NNPC Ltd’s Executive VP, Udobong Ntia, Urges Transparency, Governance in Nigeria’s Upstream Sector

Nigerian National Petroleum Company Limited’s (NNPC Ltd) newly appointed Executive Vice President, Upstream, Mr. Udobong Ntia, has called on stakeholders in Nigeria’s oil and gas industry to prioritize corporate governance, transparency, and operational efficiency.

He made the call during the “Upstream Governance, Risk and Compliance Workshop” held in Lagos on Tuesday.

The workshop, with the theme, “Enhancing Governance, Risk, and Compliance in Nigeria’s Upstream Sector,” brought together key players in the industry to discuss strategies for improving the sector’s performance.

In his opening remarks, Mr. Ntia emphasized the critical importance of governance, risk management, and compliance in driving the NNPC Ltd’s core values of integrity, excellence, and sustainability.

In a statement on Thursday by the Chief Corporate Communications Officer of NNPC Ltd., Mr. Olufemi Soneye, Ntia highlighted the need for concerted efforts by industry players to collectively address issues that hinder Nigeria’s goal of sustainably increasing crude oil production.

Ntia also reiterated his commitment to supporting initiatives aimed at achieving these objectives.

“I commend the leadership of the upstream sector and regulators for their support of this workshop, which is a vital step towards improving governance and operational standards.

“Together, we can ensure that our industry remains resilient and contributes significantly to Nigeria’s economic development,” Ntia said.

He promised to provide support and resources to accelerate the implementation of measures aimed at improving the upstream sector, further aligning it with global best practices.

The workshop featured prominent stakeholders, including NNPC Ltd.’s Chief Compliance Officer, Mr. Nasir Usman, and Chief Upstream Investment Officer, Mr. Bala Wunti.

Representatives from regulatory bodies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) were also in attendance, alongside over 20 upstream operators from international oil companies in Nigeria.

The event served as a platform for fostering collaboration among key players, with a focus on addressing governance challenges, mitigating risks, and ensuring compliance with regulatory standards.