Emmanuel Addeh in Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday unveiled its 10-year corporate and regulatory strategy implementation plan, which it said will help firm up the organisation’s supervisory role in the nation’s oil and gas industry.
Speaking at the official launch of the document in Abuja, the Chief Executive of the commission, Mr Gbenga Komolafe, pointed out that although not cast in stone, the plan will help refocus the regulator on its core responsibility to stakeholders.
He noted that the document was partly a result of a retreat held by the organisation sometime ago, stressing that having a strategic plan remains key, being part and parcel of building the commission to prevent it from running in the wrong direction.
In the last 18 months, since the NUPRC was established, the chief executive noted that the commission had worked tirelessly to put its house in great shape, describing the unveiling as a milestone.
Komolafe explained that the strategic plan which will be in place to direct the activities of the commission could match the best in the world, stressing that the document contains the steps to be taken to position the NUPRC as a leading regulatory body.
In addition, he stated that the body would continue to drive economic growth and ensure the sustainable development of the nation’s natural resources.
The strategy document, he said, encompasses key elements that will drive the NUPRC’s success, having identified core focus areas to optimise value creation, diversification of revenue sources, enhance stakeholders’ relations, attract investors and enhance transparency.
According to him the development of the document followed three phases and was guided by some key considerations including the Petroleum Industry Act (PIA), global best practices, value creation, effective operating model and people.
The chief executive of the NUPRC stated that other notable oil regulators globally were benchmarked, while top management was consulted, the outcome of which was later endorsed by the board.
“We have redesigned our organisational structure to ensure effective alignment and streamlining of operations and have deployed a new employee corporate policy to provide clear guidelines and standards for our workforce..
“Our work processes are now well documented with areas needing inter-departmental collaboration identified. Furthermore, we have undergone a comprehensive rebranding including a redesign of our brand and logo as part of our renewed vision and commitment,” he noted.
He added that innovation now remains at the core of the work of the organisation, pointing out that at the heart of the strategic plan are professionalism, responsiveness, ownership and integrity.
According to Komolafe, being entrusted with the responsibility of regulating the oil and gas sector, it has to uphold its functions with utmost professionalism, uphold highest standards and ethical standards as well as promote best practices.
He also stated that the ability to adapt and respond quickly to change remains crucial, promising to engage with all stakeholders to be able to identify and respond to change quickly.
He also urged staff to take ownership of the their work, enforce accountability which he assured will come with a good reward system so as to deliver on the organisation’s core mandate.
“As we move forward, we commit to upholding the tenets of integrity in all our dealings, conduct ourselves with fairness, impartiality and a strong sense of ethics to build trust among stakeholders,” he pointed out.
Describing it as a call to action, he said it will contribute to the realisation of the organisation’s vision and leverage its expertise to take the NUPRC to new heights.
“This is not merely a set of goals , but a testament to our collective dedication to the development of the Nigerian Upstream sector and invitation to embrace our roles as a catalyst for progress,” he explained.
He added that the document was not cast in stone, but could be tweaked if the need arises every two years after evaluation of progress and assessment of goals set by the NUPRC.
Komolafe noted that a team had been set up to track progress and deviations as nominated by each of the departments to ensure possible impact.
Also speaking, the Executive Commissioner, Economic Regulation and Strategic Planning, Dr Kelechi Ofoegbu, lauded the dedication and hard work of the organisation’s employees, saying that the new strategy involves continuous learning and aspiration to remain one of the best industry regulators globally.
