The speaker house of representative participated in a retreat at the National Assembly, Abuja, on legislative measures to support the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The event aimed to educate lawmakers on the petroleum sector and provide them with tools to support NUPRC’s mandate, ultimately enhancing Nigeria’s economy.
The Petroleum Industry Act (PIA) 2021 is a historic legislation that has reformed the oil and gas industry’s governance, operations, and transparency.
The National Assembly played a crucial role in driving these reforms, ensuring the sector’s sustainability and effectiveness.
Legislative oversight is essential in ensuring accountability within the sector.
Effective oversight of the extractive industry is challenging due to technical complexity, information asymmetry, and the sector’s evolving nature.
To overcome these challenges, parliamentarians must develop technical expertise and engage in continuous learning.
To ensure effective oversight, I recommend that the committees adopt a strategic approach that prioritizes dialogue, aligns legislative priorities with the NUPRC’s operational realities, and fosters a collaborative relationship between the commission and the House committees.