The Center for Stability and Reforms of the energy market (CEMSR) urged federal and state institutions, sector operators and partners to support ongoing reforms within the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The Center for Stability and Reforms of the energy market (CEMSR) notes that the changes have restored confidence, improved governance and strengthened investment prospects in the oil and gas sector in the country. The CEMSR pointed out that the NUPRC has recorded some of the most significant advances observed in the sector upstream in recent years. She insisted that the agency should be supported to ensure the sustainability of these results.

Dr. Musa Garuba, Executive Director of CEMSR has emphasized in a statement released on Wednesday that improving clarity regulatory, the strengthening of transparency and the strengthening of monitoring on the ground, saying that these reforms have repositioned the Nigeria as a more attractive destination for exploration and Upstream oil and gas production.

For Garuba, “the management of NUPRC has brought stability to a sector formerly characterized by unpredictability. Investors are reacting positively because they see a a regulatory body that is firm, competent and committed to long-term growth of the sector.”