ICPC and NUPRC partner to boost transparency in Nigeria’s petroleum sector

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have pledged to strengthen collaboration to ensure transparency and accountability within Nigeria’s petroleum sector.

ICPC Chairman Dr. Musa Aliyu emphasized that the strategic importance of the NUPRC to the national economy necessitates close cooperation to prevent corruption and strengthen regulatory compliance. Aliyu noted that institutional weaknesses in the petroleum regulator could negatively impact the nation’s economic well-being and highlighted the need for information sharing and mutual trust to facilitate effective anti-corruption enforcement.

NUPRC Chief Executive Mrs. Oritsemeyiwa Eyesan stated that the upstream petroleum sector is a vital revenue source for Nigeria. She stressed that a stable regulatory environment and strong governance are essential to attracting the capital-intensive investment required for the industry, describing the Petroleum Industry Act (PIA) as a significant factor in restructuring the sector.