The oil and gas sector has contributed less than 10 percent to Nigeria’s Gross Domestic Product (GDP), according to Ofoegbu Kelechi, Executive Commissioner of Corporate Service Administration at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). He made this statement during a panel session at the ongoing Nigeria Oil and Gas Week in Abuja, themed “Showcasing Opportunities, Driving Investment, Meeting Energy Demand” with the sub-theme “Nigerian Content as an Enabler.”
Kelechi emphasized that Nigerian content should be viewed as a journey rather than a destination, with its full impact being realized when it positively affects the lives and economy of Nigeria.
“As an organization and a regulatory body, we understand that Nigerian content is about value creation and retention,” Kelechi said. “As regulators, we award licenses, leases, and permits to participants in the upstream sector. This includes acreage management and the Nigerian gas commercialization program, where we have recently awarded flare sites.”
Kelechi highlighted that the NUPRC’s role extends beyond merely awarding licenses. The commission provides support to awardees by facilitating access to funding, technology, and strengthening governance to ensure successful development within the sector.
Unlike the former Department of Petroleum Resources (DPR), which primarily focused on license awarding, the NUPRC sees itself as a business enabler, mandated by Section 6 of Section H of the Petroleum Industry Act (PIA) to promote an enabling environment for investment in upstream petroleum operations. Nigerian content is a crucial element of this enablement process.
“We build capacity, adopt technology, and focus on the end game,” Kelechi added. “We aim to see significant increases in sector performance. Celebrating achievements is important, but our ultimate goal is to see tangible impacts on the lives of the Nigerian people.”
Kelechi’s remarks underscore the NUPRC’s commitment to transforming the oil and gas sector and ensuring that its benefits are widely felt across the country.
