KEY POINTS
- NUPRC targets Q1 2027 for completion of its Abuja headquarters.
- The 10-storey building will accommodate up to 1,000 staff.
- NUPRC says the facility will centralise operations and improve investor engagement
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has set the first quarter of 2027 as the new deadline for completing its proposed 10-storey headquarters, known as The Barrel, in Abuja.
The commission said the completion of the building would improve its operational efficiency, centralise its activities and strengthen Nigeria’s image when engaging international investors in the oil and gas industry.
The Barrel, located in Abuja’s Central Business District, was initiated in 2020 and is designed to accommodate between 900 and 1,000 staff.
The 10-storey building features a distinctive curved-cylinder design and is expected to bring various departments of the upstream petroleum regulator under one roof.
NUPRC said having a central headquarters would make it easier for investors and other industry stakeholders to engage with the commission without having to visit different locations across Abuja.
NUPRC Chairman Raises Concern Over Current Arrangement
Speaking during an inspection of the project, NUPRC Board Chairman, Senator Magnus Abe, described the current arrangement as embarrassing for Nigeria, particularly when dealing with major international oil and gas companies.
Abe said it was inappropriate for companies seeking to discuss multibillion-dollar investments in Nigeria to first meet the regulator in a block of flats before travelling to different parts of Abuja to meet various departments of the commission.
He said completing The Barrel would help improve the country’s image, create a more efficient regulatory environment and provide a central location for interactions with investors and industry stakeholders.
According to him, the headquarters would also serve as a symbol of national pride and demonstrate confidence in Nigeria’s oil and gas industry.
Abe commended President Bola Ahmed Tinubu for supporting the NUPRC and providing what he described as greater policy clarity for the petroleum sector.
He said recent government policies were contributing to renewed investment in Nigeria’s upstream oil and gas industry, with potential benefits including job creation, increased business opportunities, development in host communities and higher government revenue.
The NUPRC Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, directed the contractor to accelerate work and ensure the headquarters is completed by the first quarter of 2027.
The Managing Director of Julius Berger Nigeria Plc, Peer Lubasch, assured the commission that the contractor would make every effort to meet the revised deadline.
