NUPRC seeks completion of headquarters to boost Nigeria’s investment appeal

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged for the swift completion of its proposed headquarters, dubbed The Barrel, to improve its operational efficiency and boost Nigeria's attractiveness to investors. According to a statement by Eniola Akinkuotu, Head of Media and Corporate Communications, the proposed 10-storey building, resembling a convex, curved cylinder with a bulging center, is currently under construction in the heart of Abuja's Central Business District.

Initiated in 2020, the project remains incomplete, forcing the NUPRC to function from multiple smaller offices across the Federal Capital Territory.

During an inspection of the proposed facility, the Chairman of the NUPRC Board, Senator Magnus Abe, expressed concern over the negative image created by the current setup, particularly when major oil and gas companies visit Nigeria for investment talks. Abe stated that such visits often involve the regulator moving between various locations and facilities, creating an unimpressive and disruptive image for both the country and potential investments.

He emphasized that the new headquarters would not only provide a central location for the commission's operations but also serve as a symbol of national pride and confidence in Nigeria's oil and gas sector.

The proposed headquarters would enable the industry to operate from a single location, boost national pride, and serve as a testament to confidence in the oil and gas industry. Abe praised President Bola Tinubu for giving board members the opportunity to serve the nation and for providing strong support, clear policies, and a clear vision for the sector.

He also highlighted that the administration's policies have already led to a resurgence of investment in Nigeria's upstream petroleum sector, creating employment, business opportunities, driving development in host communities, and increasing government revenues.

Eyesan, the NUPRC Chief Executive, urged the contractor to expedite construction and ensure the project is completed by the first quarter of 2027. Julius Berger Nigeria Plc, with over 12 years of media experience, reported on the matter.