Oando Plc, Nigeria’s leading integrated energy company listed on both the Nigerian Exchange (NGX) and Johannesburg Stock Exchange, recently joined industry peers to celebrate the third anniversary of the Nigerian Upstream Regulatory Commission (NUPRC). The event recognized the crucial decisions made by the regulators to enhance the energy sector in Nigeria.
The anniversary celebration was attended by notable figures, including President Bola Ahmed Tinubu, represented by Senator George Akume, the Secretary to the Government of the Federation, as well as Senator Heineken Lokpobiri, the Honourable Minister of State for Petroleum Resources (Oil), and Right Honourable Ekperikpe Ekpo, the Honourable Minister of State for Petroleum Resources (Gas). Also present were Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), among other distinguished guests.
During the event, Dr. Ainojie ‘Alex’ Irune, Managing Director of Oando Energy Resources Nigeria Limited (OERNL), commended the NUPRC and NNPC for their significant efforts to revitalize the Nigerian energy sector. He highlighted that, for the first time in Nigeria’s history, a regulatory body is actively promoting business transformation rather than merely enforcing regulations. Dr. Irune stated, “The NUPRC has established ambitious goals for the industry, and it is incumbent upon industry players to implement the necessary business and operational changes to achieve these objectives.”
The event underscored the collaborative effort needed among industry stakeholders to drive growth and innovation in Nigeria’s energy landscape, aligning with the government’s vision for a robust and sustainable energy sector.