The newly inaugurated board of the Nigerian Upstream Petroleum Regulatory Commission assumed duty in Abuja, with Chairman Senator Magnus Abe committing to provide stronger strategic leadership and institutional oversight as Nigeria’s petroleum sector navigates historic market volatility driven by the ongoing Middle East conflict.
Speaking at the commission’s headquarters immediately after inauguration, Abe described the board’s central purpose as working constructively with management to strengthen the commission and serve the national energy interest at one of the most consequential moments in global oil and gas markets.
He also committed to securing more suitable office accommodation for the commission, describing the matter as an operational priority with direct implications for staff productivity and institutional effectiveness.
Commission Chief Executive Oritsemeyiwa Eyesan congratulated the new board and noted that the commission depended on its strategic direction in line with the Petroleum Industry Act. She described the timing of the inauguration as significant given the unprecedented price volatility caused by the Iran war and the accelerating global energy transition, expressing confidence that the commission was positioned to respond appropriately to both challenges.
Secretary to the Government of the Federation, Senator George Akume, who presided over the inauguration, said the reconstitution of the board demonstrated the federal government’s commitment to strengthening governance in the petroleum sector. He charged board members to uphold the highest standards of corporate governance, maintain regulatory independence, and work constructively with management and industry stakeholders to attract investment and drive sustainable development in the upstream sector.
The inaugurated board comprises Senator Magnus Abe as Chairman, Oritsemeyiwa Eyesan as Commission Chief Executive, non-executive commissioners Sunday Babalola and Paul Jezhi, executive commissioners Bashari Indabawa and Muhammed Sabo Lamido, alongside Mrs. Patience Oyekunle representing the Ministry of Petroleum Resources, Mustapha Lamorde from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and Dalhat Muhammad Kamal from the Ministry of Finance, with Olayemi Adeboyejo serving as Commission Secretary and Legal Adviser.
