By Obas Esiedesa, Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set the first quarter of 2027 as the target for the completion of its proposed headquarters, known as The Barrel, in Abuja.

The Commission said the speedy completion of the 10-storey facility would improve its operational efficiency and enhance Nigeria’s appeal to investors in the oil and gas sector.

A statement by NUPRC Head, Media and Corporate Communications, Eniola Akinkuotu explained that The Barrel, located in Abuja’s Central Business District, was initiated in 2020 and is designed to accommodate between 900 and 1,000 people. 

“The building has a distinctive convex, curved-cylinder design that bulges outward at its centre.”

Speaking during an inspection of the building project, Chairman of the NUPRC Board, Senator Magnus Abe, said the current arrangement could undermine Nigeria’s image when dealing with major international oil and gas investors.

Abe said it was embarrassing for companies seeking to discuss multibillion-dollar investments in Nigeria to meet the industry regulator in a block of flats and then move to different parts of Abuja to engage various departments of the Commission.

“It is a thing of great embarrassment to this country when major oil and gas companies come to Nigeria to discuss investments worth billions of dollars, only to meet the regulator in a block of flats and from there proceed to other parts of the city to see different departments to conduct transactions with the NUPRC,” he said.

“This image is not just bad for the country, but bad for business.”

According to him, the completion of the headquarters would provide a central location for the Commission’s operations and engagements with industry stakeholders.

He said the edifice would also serve as a symbol of national pride and confidence in Nigeria’s oil and gas industry.

“The edifice will enable the industry to operate from one central location, bring pride to our nation and serve as a symbol of confidence,” Abe said.

The NUPRC Board chairman commended President Bola Ahmed Tinubu for his support for the Commission and for providing what he described as policy clarity and a clear vision for the oil and gas industry.

He said the impact of the administration’s policies was already being reflected in renewed investment in Nigeria’s upstream petroleum sector.

Abe added that the investments were generating employment and business opportunities, supporting development in host communities and increasing government revenue.

Also speaking, the NUPRC Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, directed the contractor to accelerate work on the project and ensure its delivery by the first quarter of 2027.

The Managing Director of Julius Berger Nigeria Plc, Engineer Peer Lubasch, assured the Commission that the contractor would make efforts to meet the new completion timeline.

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