- NUPRC Refutes Allegations: Claims of rigging in the 2024 oil block bid round are being called baseless.
- Transparent Process: NUPRC insists on a comprehensive and transparent digital process.
- Stakeholder Engagement: International Oil Companies (IOCs), local and international firms, NEITI, government agencies, civil society organizations, and media were all involved.
- Digital Technology: The licensing round leveraged digital technology, minimizing human interference.
- Blackmail Mission?: NUPRC accuses the accusers of a deliberate attempt to mislead and defame the commission’s leadership.
NUPRC Responds to Rigging Claims
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has vehemently denied allegations of rigging the allocation of oil blocks during the 2024 oil licensing bid round. According to a statement by Mr. Bashari Indabawa, Chairman of the 2024 Bid Round Committee, the process was designed to ensure transparency and engage all stakeholders.
What Made the Process ‘Transparent’?
NUPRC emphasized that the selection process involved a wide range of stakeholders, including International Oil Companies (IOCs), local and international firms, the Nigeria Extractive Industries Transparency Initiative (NEITI), government agencies, civil society organizations, and national and international media representatives. The commission stated that these stakeholders were encouraged to participate and voice their perspectives at various stages, fostering a collaborative atmosphere.
Digital Tech to the Rescue!
According to NUPRC, the licensing round was the first in nearly 70 years to use digital technology. This move, they claim, minimized human interference and aligned with global best practices. The results were televised live, and all stakeholders were present, supposedly eliminating any room for manipulation.
Accusations of a ‘Blackmail Mission’
NUPRC didn’t hold back, accusing the anonymous “reporter” behind the allegations of being on a blackmail mission. They criticized the reporter for obscuring the identity of their sources and failing to provide concrete evidence. The commission also pointed out the omission of outcomes from investigations by the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Offences Commission (ICPC).
Why Transparency Matters in the Oil Sector
Transparency in Nigeria’s oil sector is not just a buzzword; it’s crucial for accountability and economic stability. Nigeria, being one of Africa’s largest oil producers, relies heavily on its oil revenues. Ensuring that licensing rounds are fair and transparent can attract more foreign investment and reduce corruption. According to the Nigeria Extractive Industries Transparency Initiative (NEITI), promoting transparency can significantly improve governance and revenue management in the sector.
The Bigger Picture: PIA and National Interest
NUPRC maintains that these allegations distract from the advancements being made under the Petroleum Industry Act (PIA) 2021. They reaffirmed their commitment to President Bola Ahmed Tinubu’s reforms aimed at optimizing federation revenue in the national interest.
Ultimately, NUPRC is standing firm, saying they won’t be swayed by what they see as smear campaigns. They’re focused on implementing President Tinubu’s reforms and keeping the oil and gas sector on track.
About The Author
