Distinguished industry leaders, Esteemed colleagues, and honored guests,
1. Today, I stand before you with a profound sense of responsibility and purpose. The oil industry in
Nigeria is not just the backbone of our economy; it is the heartbeat of our nation’s progress and
the promise of our development and future prosperity.
2. This is my first engagement with the industry since assuming the role of the CCE. This gathering is
deliberate and carefully planned. Policy is only relevant in a functional industry. Much more,
effective policy relies on a robust industry, and steering the sector towards strength, resilience,
and forward-thinking progress depends on collective participation. Accordingly, I urge all
stakeholders to collaborate with me in redefining our path—one characterized by reform,
transparency, sustainable growth, adaptability, ambition, and meaningful transformation.
3. Many of you are quite familiar with my background and professional journey. we have been
through what is called in local parlance “the trenches” together. I regard myself as part of an
extensive network built upon clear communication, constructive feedback, and prompt
corrective actions.
4. Nigeria’s upstream petroleum sector stands at a defining moment. The Petroleum Industry Act (PIA), 2021, has provided a modern legal foundation. What next is execution and
implementation — predictable regulation, faster decisions, stronger governance, and
measurable outcomes that restore confidence, unlock investment, and maximize value for
Nigerians and investors.
5. Allow me to make my commitment upfront, I will work with the industry, act as bridge between
Government objectives and value creation goal of the investing group which you represent. I
will operate and drive the commission to act solely at the intersection of the extant laws, policy
and regulation for value creation. I therefore need your cooperation and support to drive the
new initiatives and activities of the commission.
6. We must acknowledge that the world is changing rapidly, and so must we. The Nigerian oil
industry has made significant strides over the years, yet we are confronted by challenges that
threaten our ability to remain competitive, transparent, and sustainable. Reform is no longer
optional—it is essential. Under my watch, the commission will revisit outdated practices,
streamline processes and operations, and foster an environment where innovation can thrive.
Only through comprehensive reform can we unlock the true potential of our oil sector and
ensure that it serves the interests of all Nigerians.
7. One of the most critical steps in our journey is speeding up regulatory processes. The commission
will do away with excessive bureaucracy and slow and discretion laden decision-making that
have stifled growth, discouraged investment, and delayed vital projects.
8. We will embrace efficiency, clarity, and accountability. By adopting best practices, leveraging
technology, and strengthening inter-agency collaboration , we would create a regulatory environment that is both robust and responsive—
one that empowers rather than impedes. It is my resolve to act quickly and decisively, aligning
our policies with the demands of a dynamic global energy landscape.
9. This agenda rests on three mutually reinforcing pillars:
Pillar 1: Production Optimization & Revenue Expansion — Recovering shut-in volumes with
economic value, arresting decline, reducing losses, and accelerating time-to-first oil—
without increasing burdens or transaction cost.
Pillar 2: Regulatory predictability & Speed — Running regulation like a service: transparent
rules, time-bound decisions, and digital case ownership.
Pillar 3: Safe, Governed & Sustainable Operations — Strengthening governance, process
safety, host community outcomes, and encouraging decarbonization.
10. Going forward, the commission will be measured on the following key Success Metrics -Faster,
predictable regulatory approvals, Higher, more secure and sustainable production, Credible
licensing and disciplined acreage performance, World-class HSE and process safety outcomes,
Trusted measurement, transparency, governance and data integrity.
11. We will enhance regulatory efficiency and predictability by publishing Service Level
Agreements (SLAs) for all major approvals. The timeline to production will be reduced through
proactive discussions regarding all necessary approvals, implementation of stage-gate
processes, and mutual agreement on timelines with the commission. Stakeholders are
encouraged to submit their projects for consideration. For matured opportunities, please submit
your request latest end of Q1, 2026. This would provide a simplified and holistic framework that
creates obligations for both operators and the Commission.
12. The commission will launch a digital workflow for permitting, reporting and data submissions.
Also, work with the industry to Identify capacity gaps and develop tiered intervention in the most
critical areas with immediate impact on regulatory efficiency while we harmonize our own
internal processes to eliminate conflicting regulatory actions and reduce friction. The NUPRC
internal transformation program through a project Management office is in flight and I will
provide more details on this in the coming days.
13. Starting immediately, I am convening a CCE–Operators Leadership Forum for monthly
engagement. The Participants to include all Operators (including NNPC), OPTS, IPPG, and
emerging players. The meeting will be focused on approval timelines, production restoration,
infrastructure integrity, and gas monetization and development. This will give us room for early
identification of systemic bottlenecks and provide greater predictability. I believe the synthesis
of the key issues will be through your respective focus groups. I encourage every operator to
attend the inaugural meeting with one actionable proposal or idea for reform.
So, I eagerly look forward to the engagement.
14. We need to improve hydrocarbon accounting and measurement by tracking every barrel
produced and promptly addressing discrepancies or losses. Transparency starts with thorough
metering audits for all assets. Support the commission and prioritise installing or upgrading real-
time production monitoring systems in our fields.
15. We must protect our social license to operate. Hence, I would encourage all operators to liaise
with the commission as we plan first Engagement with Host Community Leaders to reaffirm
commitment to HCDT implementation.
16. Compliance with the PIA statutes is mandatory. Both my office and the industry will be
monitored to ensure timely adherence, with a dedicated team (situated in my office) assigned
to coordinate with all stakeholders. Within the next 12 months, my goal is to bring PIA
compliance to 100%.
17. I would not fail to remind this August group of Mr. President’s mandate to increase production
to 2 million barrels by 2027 and 3 million by 2030. Our industry must work together to achieve
these targets through tangible production gains, revived wells, optimized assets, effective
utilization, and accelerated deepwater development. The ongoing Bonga North project will
serve as a test case for our efforts. The commission will publish a Production Performance
Dashboard to track progress and identify challenges, and we will enforce compliance with work
programs while recognizing top performers. the commission going forward will issue quarterly
progress reports. Let therefore bring all high impact shut in fields for approval. On the
commission’s part a 90-day program to fast track approvals for near-ready FDPs, well
interventions, rig mobilization and other quick-win opportunities have commenced.
18. I am very aware our success will be judged not by policy volume, but by outcomes Nigerians
can feel and measure by higher production, safer operations, reduced losses, credible data,
faster approvals, and stronger investor confidence.
19. Together, we stand at the threshold of a new era for Nigeria’s upstream petroleum sector. The
choices we make today will shape our nation’s prosperity, our industry’s reputation, and the
legacy we leave for future generations. I call on every stakeholder—leaders, operators,
investors, and communities—to join me in driving meaningful reform, embracing innovation, and
upholding the highest standards of transparency and accountability.
20. What we have outlined is a bold transformation agenda. One of our guiding principles is
excellence, not perfection. Excellence accepts that mistakes may occur, but it demands
something more important: a listening, collaborative, and relentlessly learning organization
committed to shared growth. We will hold ourselves accountable to measurable progress, faster
approvals, safer operations, credible data, and stronger investor confidence. Along the way,
we will celebrate our successes and learn from our challenges, confident that our collective
effort will build an industry that truly works for all Nigerians.
21. I am confident that, with your partnership and dedication, we will chart a bold new course—
one defined by growth, resilience, and shared value. Thank you for your commitment, your
engagement, and your belief in a brighter future for Nigeria’s oil and gas sector.
Let us move forward—together.
Thank you for coming and ready for meaningful engagement.
Oritsemeyiwa Eyesan (Mrs.)
CCE, NUPRC