The senate committee on petroleum resources (upstream) on Monday cleared Magnus Abe, former senator representing Rivers south-east, for appointment as chairman of the board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The committee screened Abe and other nominees forwarded by
President Bola Tinubu.
Eteng Williams, senator representing Cross River central,
chaired the committee.
The lawmakers considered nominees for appointment as
chairman and non-executive commissioners of the commission.
In line with senate tradition, Abe was asked to “take a bow
and go,” a privilege usually extended to former lawmakers appearing before the
senate for confirmation.
Other nominees screened by the senate committee include Paul
Jezhi, former chairman of the Trade Union Congress (TUC) in Kaduna, and Sunday
Babalola, former deputy director at the defunct Department of Petroleum
Resources (DPR).
Speaking with journalists after the screening, Abe said
rising global oil prices triggered by tensions involving Iran and the United
States present both challenges and opportunities for Nigeria.
“This is a very difficult time for the entire planet. It’s
not just a Nigerian challenge; it is a global challenge,” he said.
Abe said the global crisis could increase fuel prices but
also boost Nigeria’s oil revenue.
“You must look at the balancing act. Prices will definitely
be affected, but revenues from our oil sales will also be positively affected,”
he said.
“There will be some measure of balance in what will happen.”
ABE CALLS FOR END TO US-IRAN WAR
Abe, who is also a former member of the Rivers state house
of assmebly, called for an end to the conflict.
“Human beings are actually dying,” he said.
“Our prayers should be that this conflict, which in my
opinion is unnecessary and harmful to the entire world, should quickly come to
an end so that we can begin to recover.”
Abe urged Nigeria to take advantage of the situation to
strengthen its energy sector.
“If the price of oil is going up, it allows us to invest in
marginal fields that otherwise would not have been profitable,” he said.
“If gas supplies are being disrupted globally, this is an
opportunity for Nigeria to optimise its own gas production, which will create
jobs and new opportunities.”
Abe also expressed appreciation to Tinubu for nominating him
to serve on the commission’s board.
“I am sincerely grateful to Mr President, the
Commander-in-Chief of the Armed Forces, Bola Tinubu, for considering me and
other members of the board worthy of service to this country,” he said.
“I see it as a great privilege and an opportunity to
contribute to the Renewed Hope Agenda.”
Abe said the incoming board would work with stakeholders to
strengthen regulation in the petroleum sector.
He said the Petroleum Industry Act provides solutions to
challenges such as oil theft and community agitation.
“With the Host Communities Fund, the host communities
themselves are now stakeholders. They benefit from production, and nobody
destroys what he is eating,” he said.
Abe was accompanied to the screening by Philip Aduda, former
senator representing the federal capital territory (FCT), Olaka Nwogu, former
senator representing Rivers south-east, and Ayo Akinyelure, former senator
representing Ondo central, among others.
Tinubu had earlier written to the senate on January 5
seeking confirmation of 21 nominees for the boards of the NUPRC and the
Nigerian Midstream and Downstream Petroleum Regulatory Authority.
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