WATCH THE VIDEO HERE The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed allegations of underhand dealings and bribery in the allocation of oil blocks during the 2024 oil licensing bid round. In a statement, the commission’s chairman of the 2024 bid round committee, Bashari Indabawa, described the claims as “unfounded” and “misleading”. According to NUPRC, the bid round process was characterized by a comprehensive and rigorous framework designed to ensure transparency and stakeholder engagement. The commission said the process involved public hearings, input from regulatory agencies, and participation from industry stakeholders, including International Oil Companies, local and international firms, and civil society organizations. The NUPRC emphasized that the selection process was conducted in a manner that upheld the principles of competitiveness, openness, and transparency, as mandated by section 73 of the Petroleum Industry Act (PIA). The commission noted that the licensing round was the first in nearly 70 years of Nigeria’s upstream petroleum industry history to leverage digital technology, devoid of human interference, and was televised live with all stakeholders in attendance. The NUPRC described allegations of misconduct without substantive evidence as “distracting from the real advancements being made in the oil sector and contributing to a culture of misinformation”. The commission reaffirmed its commitment to transparency and fairness in the industry.
NUPRC denies allegations of underhand dealings in oil block allocation
