By Peter Omopo
The Senate on Monday confirmed former lawmaker representing Rivers South-East Senatorial District, Magnus Abe, as Chairman of the Board of the Nigerian Upstream Petroleum Regulatory Commission.
Abe was screened by the Senate Committee on Petroleum Resources (Upstream) before lawmakers approved his appointment. The committee, chaired by Senator Eteng Jonah Williams, reviewed nominees forwarded by President Bola Tinubu for appointment as chairman and non-executive commissioners of the commission.
In line with the Senate’s practice for former lawmakers appearing for confirmation, Abe was asked to take a bow and leave after introducing himself, having previously served two terms in the National Assembly.
Speaking with journalists after the screening, Abe said the surge in global oil prices caused by rising tensions involving Iran and the United States presents both challenges and opportunities for Nigeria. He noted that while the conflict could increase fuel prices and create hardship for citizens, it may also boost Nigeria’s oil revenue.
According to him, the situation is not limited to Nigeria but represents a global challenge affecting many countries. He added that higher oil prices could enable Nigeria to invest in marginal oil fields that might otherwise be unprofitable, while disruptions in global gas supply could create opportunities for the country to expand its gas production and generate employment.
Abe also called for prayers for an end to the ongoing conflict, stressing that beyond economic concerns, the crisis is costing human lives.
The former Social Democratic Party governorship candidate in Rivers State expressed appreciation to President Tinubu for the nomination, describing it as a privilege and an opportunity to contribute to the administration’s Renewed Hope Agenda. He assured Nigerians that the new board would work closely with stakeholders to strengthen the regulatory framework in the petroleum sector.
Abe added that the Petroleum Industry Act has provided solutions to several longstanding issues in the industry, including oil theft and disputes with host communities, noting that the Host Communities Fund now makes local communities direct stakeholders in oil production.
During the screening session, one of the nominees for non-executive commissioner on the NUPRC board, Paul Jezhi, told lawmakers that discrepancies in crude oil measurement at custody transfer points remain a major challenge in the sector. He said modern metering technology could significantly reduce such discrepancies.
Jezhi also recommended the use of drones and satellite surveillance to tackle oil theft and pipeline vandalism, particularly in the Niger Delta region.
President Tinubu had earlier written to the Senate on January 5, 2026, requesting confirmation of 21 nominees for the boards of the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, including Abe as chairman of the NUPRC board.
Other nominees include Paul Jezhi, a former chairman of the Trade Union Congress in Kaduna, and Sunday Babalola, a former deputy director at the defunct Department of Petroleum Resources.
