Nigerians In Diaspora Laud Tinubu, Komolafe Over Reforms In Oil, Gas Sector

The Nigerians in Diaspora Groups has praised President Bola Tinubu and the Chief Executive Officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, for their transformative leadership and commitment to transparency in Nigeria’s oil and gas sector.

In a statement issued on Monday, David Matthew Akpambu, Global President of the Nigerians in Diaspora Groups, commended the 2024 Oil Block Licensing Round, conducted in full compliance with the Petroleum Industry Act (PIA) and NUPRC Guidelines.

This groundbreaking process, they noted, marked a major milestone in the nation’s quest to rid the sector of corruption and mismanagement.

Emphasising the significant strides made, the groups highlighted the transparent, digital nature of the bidding process.

“For the first time in Nigeria’s history, the oil and gas sector witnessed a fully digital and point-based commercial bid evaluation, ensuring a competitive and fair allocation of assets. This digital approach, underpinned by encryption and decryption technology, provided an unprecedented level of security and integrity, ensuring that data remained confidential and free from human interference,” the statement reads.

“This reform is a testament to the leadership of President Tinubu and the proactive vision of Gbenga Komolafe. The 2024 Licensing Round was transparent, competitive, and a clear departure from previous practices that have often been tainted with allegations of corruption.”

The groups also applauded the stringent prequalification process, which demanded that applicants demonstrate not only financial strength but also technical expertise.

“The rigorous criteria were designed to ensure that only qualified entities could proceed to the subsequent stages, ultimately safeguarding Nigeria’s oil and gas assets from mismanagement,” the statement added.

“The commercial bid phase, which took place in full public view, was another highlight of the process. The transparent evaluation system, which was broadcast live, involved representatives from key agencies such as the Nigerian Extractive Industry Transparency Initiative (NEITI) and the Federal Ministry of Finance, ensuring the process was open and accountable. With outcomes determined instantaneously, the digital process eliminated any possibility of human interference or manipulation.”

They also emphasized the importance of the involvement of well-established industry players, noting that this model ensured that even newly incorporated entities could compete fairly, provided they were supported by reputable stakeholders with proven operational experience.

The groups reiterated its support for the leadership of Tinubu and Komolafe, recognizing the significant steps taken towards a transparent and efficient oil and gas sector.

The diaspora groups stressed that it had been monitoring Komolafe’s activities since his appointment, and found him consistent in delivering on the promises he made to the country.

“During his Senate screening, Mr. Komolafe made a commitment to the nation: to establish a 21st-century regulator and position NUPRC as the leading upstream regulatory body on the African continent,” they declared.

“Today, that vision is not just alive—it has been achieved. Nigeria now ranks as having the best upstream regulator in Africa in terms of best practices, a feat acknowledged by stakeholders at several international energy summits.”

They called on other government agencies to adopt similar reforms in other critical sectors to further drive Nigeria’s economic growth and attract foreign investments.