Renewed Hope Ambassadors Laud Tinubu over Bold Reforms in Oil and Gas Sector

• President Bola Tinubu has been applauded by the Renewed Hope Ambassadors for taking a significant step in reforming the oil and gas sectors
• The Renewed Hope Ambassadors highlighted significant progress in boosting investor confidence, streamlining processes, and enhancing Nigeria’s telecommunications sector
• The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Communications Commission (NCC) were lauded for their commitment to regulatory efficiency and economic development

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.

The Renewed Hope Ambassadors, a group of Nigerian professionals and stakeholders, has commended President Bola Ahmed Tinubu’s administration for its bold reforms in the oil and gas sector.

In a statement by Dr. Opialu F. Opialu, its secretary-general, the group praised the president’s efforts to improve the investment climate and position Nigeria as the preferred investment destination in Africa.

According to Opialu, the reforms are designed to address the challenges facing the oil and gas sector, including declining investment, low production levels, and inadequate infrastructure.

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As reported by ThisDay, he noted that the impact of these reforms is already being felt, with increased investor interest and activity in the sector.

The group also commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Communications Commission (NCC) for their regulatory efficiency and promoting transparency and accountability.

Opialu said the NUPRC has implemented key reforms aimed at boosting investment and strengthening regulatory oversight. It added that the NCC, on the other hand, has made significant progress in enhancing the nation’s telecommunications landscape.

The statement added:

“The NUPRC has been working tirelessly to build a resilient, competitive, and investment-driven upstream sector. Under the leadership of Engr Gbenga Komolafe, the Commission has implemented key reforms aimed at enhancing efficiency, boosting investment, and strengthening regulatory oversight.

“The NUPRC has driven several initiatives to enhance regulatory effectiveness and attract investments. These include the development of a 10-year Regulatory and Corporate Strategic Plan and a Regulatory Action Plan. The Commission’s efforts have restored investor confidence and positioned Nigeria’s petroleum industry for sustained growth.

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“Meanwhile, the NCC has made significant progress in enhancing the nation’s telecommunications landscape. Under the leadership of Dr. Animu Maida, the Commission has pushed for the signing of a Presidential Order designating telecommunications infrastructure as critical national assets.

“The NCC has also ensured the proper linkage of SIM Cards to National Identification Numbers (NIN) to check the increasing incidences of banditry and terrorism in the country. Additionally, the Commission has facilitated the waiver of Right of Way (RoW) charges in several states, making it easier for telecom operators to deploy infrastructure and improve connectivity across the country.

“The NCC’s commitment to promoting innovation and capacity building in the telecommunications sector is evident in its partnership with Nokia to initiate training programs for young engineers in 4G/5G technologies.The NCC’s efforts to promote competition and ensure fair play in the telecommunications sector have been recognized internationally. Dr. Maida’s appointment to the Board of Directors of the International Institute of Communications (IIC) is a testament to Nigeria’s growing influence in global telecommunications and digital innovation.”

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As reported by Vanguard, the Renewed Hope Ambassadors also passed a vote of confidence in the leadership of NUPRC and NCC, recognising their outstanding performance and commitment to driving growth and development in their respective sectors.

The group urged other agencies to emulate the example set by NUPRC and NCC and work towards achieving the nation’s development goals.

Meanwhile Renewed Hope Ambassadors spoke after President Bola Tinubu had sacked Mele Kyari as Nigerian National Petroleum Company (NNPC) boss and appointed Bashir Bayo Ojulari as the new GCEO and Ahmadu Musa Kida as the non-executive chairman.

The president also sacked all board members who were appointed alongside Kyari in November 2023.

This latest development happened amid the ongoing saga between the NNPC Limited and Dangote Refinery, a major private-owned refinery in Nigeria.

Read more about NNPC, Tinubu here:

• Tinubu lauded for sacking Mele Kyari, urged to investigate alleged refinery fraud
• Newly appointed NNPC CEO mentions two things many people don’t know about him

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NNPC head shares how contracted staff drowned

Legit.ng earlier reported that Bayo Ojulari, the newly appointed head of the NNPC, whose leadership marks a pivotal shift in the organisation’s direction, once faced profound challenges in his early career.

In a 2017 interview with PUNCH, he recounted the harrowing experience of losing a contracted staff member who drowned during demobilisation after an eight-week survey in Rivers state.

The tragic incident deeply affected him, highlighting the importance of prioritising safety in oil exploration and production.

Source: Legit.ng