Shettima Highlights Oil Block Transparency at NUPRC Event

At the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, Vice President Kashim Shettima, representing President Bola Tinubu, remarked that a friend of his won an oil block through a fair and competitive process, without any political connections. Shettima asserted that the federal government is dedicated to transforming Nigeria into a leading destination for long-term hydrocarbon investment, citing the Petroleum Industry Act (PIA) of 2021 as a pivotal factor in providing clear rules for investors.

He acknowledged former Senate President Ahmad Lawan for his role in advancing the PIA through the National Assembly. The Vice President noted that Nigeria has been recognized as Africa's top investment destination in the oil sector for two consecutive years.

He also mentioned improvements in production stability due to collaborative efforts with security agencies and host communities, and outlined government initiatives to reduce costs and streamline contracting processes for investors.