Senate confirms Magnus Abe as NUPRC board chairman

The Senate on Monday confirmed former Rivers South-East senator, Magnus Abe, as Chairman of the Board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

 

Abe was screened by the Senate Committee on Petroleum Resources (Upstream) before receiving approval from lawmakers.

 

The committee, chaired by Senator Eteng Jonah Williams (Cross River Central), also screened other nominees forwarded by President Bola Tinubu for appointment as chairman and non-executive commissioners of the commission.

 

In line with Senate tradition for former lawmakers appearing for confirmation, Abe was asked to “take a bow and go,” having previously served two terms in the National Assembly.

 

Speaking with journalists after the screening, Abe said the recent surge in global oil prices, triggered by tensions involving Iran and the United States, presents 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.

 

According to him, while the crisis could drive up fuel prices and create hardship for Nigerians, it could also lead to higher revenues from crude oil exports.

 

“You must look at the balancing act. Prices will definitely be affected, but revenues from our oil sales will also be positively affected,” Abe added.

 

The former lawmaker urged Nigeria to take advantage of the situation by strengthening its energy sector, particularly through gas development and investments in marginal oil fields.

 

“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.

 

Abe also expressed appreciation to President Tinubu for the nomination, describing it as an opportunity to contribute to the government’s Renewed Hope Agenda.

 

He added that the incoming board would work with stakeholders to strengthen regulation in the petroleum industry.

 

According to him, the Petroleum Industry Act (PIA) provides mechanisms to address long-standing challenges in the sector, including oil theft and host community disputes.

 

“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.

 

During the screening, Paul Jezhi, a nominee for non-executive commissioner, told lawmakers that discrepancies in crude oil measurement at custody transfer points have been a long-standing issue in the industry.

 

He recommended the deployment of modern metering systems, as well as drones and satellite surveillance, to help curb oil theft and pipeline vandalism, particularly in the Niger Delta.

 

President Tinubu had earlier written to the Senate in January 2026, seeking confirmation of 21 nominees for the boards of the NUPRC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).