In a serious milestone for Nigeria’s oil and gasoline sector, PE Vitality Restricted has formally submitted the nation’s first complete Engineering Audit Report on Upstream Measurement Tools and Amenities to the Nigerian Upstream Petroleum Regulatory Fee (NUPRC).
The landmark report was formally handed over by Dr. Daere Akobo, Chairman of PANA Holdings and Group CEO of PE Vitality, to Engr. Gbenga Komolafe, FNSE, the Chief Govt of NUPRC, throughout a high-level ceremony.
The audit, commissioned by the Federal Govt Council below the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR, is a vital transfer aimed toward strengthening governance, boosting income assurance, and deepening transparency inside Nigeria’s upstream petroleum trade.
In keeping with Dr. Akobo, the audit displays the federal government’s dedication to systemic reform within the oil and gasoline sector. “This initiative obtained devoted oversight from the Honourable Ministers of State for Petroleum Sources – Sen. Heineken Lokpobiri for Oil, and Rt. (Obongemem) Ekperikpe Ekpo for Fuel – whose help was instrumental to its success,” he mentioned.
He additionally applauded the management of Engr. Komolafe, describing him as a “visionary reformer” whose drive has helped reshape Nigeria’s regulatory surroundings consistent with the Petroleum Business Act (PIA) 2021 and the Nigerian Upstream Petroleum Measurement Laws 2023.
READ ALSO: Nigeria’s Oil Can Final 64 Years, Fuel for 93 Years — NUPRC
“The unwavering dedication of the NUPRC technical staff and directorates all through the audit course of can’t be overstated. Their professionalism was key in making certain a radical and credible evaluation,” Akobo added.
The submission of this engineering audit represents a vital step towards enhancing hydrocarbon measurement accuracy, enhancing income monitoring, and reinforcing operational integrity in Nigeria’s oil and gasoline upstream sector.
Business analysts say the report might function a cornerstone for regulatory reforms and financial accountability within the sector, marking a pivotal shift in Nigeria’s pursuit of vitality sector transparency and effectivity.
