Mohammed Shosanya
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that the commission has come up with a policy framework that will enhance proper monitoring, transparency and ensure accountability of crude oil taken from the country.
It also said that the new regulatory framework known as the Nigerian Upstream Petroleum Measurement Regulations, 2023 in line with the PIA, is a new initiative that will create a paradigm shift in oil-related revenue generation in the country.
Chief Commission Officer, NUPRC, Engr. Gbenga Komolafe disclosed this at a two-day National Anti-Corruption Conference organized by HEDA Resource Centre and Centre for Fiscal Transparency and Integrity Watch (CFTI) in Abuja.
According to him, the policy will also address the issue of overloading and dispensing oil from the source, which invariably gives rise to making money from the illicit process.
He added: ‘‘While it’s critical to follow and recover illicit financial flows, it’s perhaps more critical to prevent illicit financial flows . One is reactive while the later is proactive.
“The commission is focused on proactive corruption prevention and elevation of transparency in hydrocarbon accounting in the Nigerian oil and gas industry. stressing that wrong hydrocarbon accounting practice has pervaded since 1956 oil discovery in Nigeria. So, NUPRC is poised in a revolutionary move to stop the corrupt practice .
‘’The idea is to stop the illicit financial flows from the source. When that happens it will make the work of the EFCC, and ICPC very easy”
The regulation will ensure a licensee or lessee has a metering plan approved by the commission for the measurement of petroleum production from its producing license or lease area.
According to the policy document,the Measurement equipment and metering systems deployed by a licensee or lessee under a metering plan shall conform with the standards and prescribed in a regulation, guidelines, or directives issued by the commission.
Besides, the policy document stated that a lessee shall carry out the installation of metering equipment and metering services under a metering plan through a licensed metering services provider in accordance with the provisions of these Regulations. Thus, a licenced metering services provider shall be an original equipment provider (OEM) or its agent, approved by the Commission.
It also reads:” A measurement equipment and metering systems deployed by a licensee or lessee under a metering plan shall conform with the standards and specifications prescribed in a regulation, guidelines or directives issued by the Commission.
”The standards and specification referred to in subregulation of this regulation shall relate to the design, fabrication, manufacture, installation, calibration, operation, maintenance, upgrade and inspection or any other requirement as may be determined by the commission”
