Nigeria’s oil industry regulators must emplace visionary leadership that strengthens institutions, restores credibility, and consistently applies the law without fear, or political convenience, Iledare Wumi Iledare, Professor Emeritus of Petroleum Economics, has said
His suggestion came on the heels of the appointment of Oritsemeyiwa Eyesan and Engineer Saidu Aliyu Mohammed,who were last week confirmed by the Senate as heads of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
He advised that the regulators must reduce discretion-driven delays, eliminate regulatory frictions, and ensure predictable, time-bound approvals that lower transaction costs across the value chain.
According to him, regulation should translate into measurable outcomes—investment confidence, infrastructure development, domestic capacity growth, and energy security.
Iledare, who is also the Executive Director, Emmanuel Egbogah Foundation, emphasized the need for the regulators to maintain competitive neutrality, ensuring a level playing field across all market participants—state, private, domestic, and foreign—without regulatory capture or preferential treatment.
He added:”Above all, credibility will rest on transparency, rule-based decision-making, and strict adherence to the spirit and letter of the Petroleum Industry Act. Without ethical guardrails, efficiency and effectiveness quickly become instruments of exclusion.
“Ultimately, success will not be judged by announcements or early enthusiasm, but by whether these institutions evolve from personality-driven agencies into strong, predictable, and law-governed regulators. That is the real test before the new leadership.”
