The Nigerian Senate has confirmed the appointment of four nominees as members of the Nigerian Upstream Regulatory Commission.
The confirmation followed the consideration of a report by the Senate Committee on Petroleum Upstream.
Those confirmed during Wednesday’s plenary include Isa Ibrahim Modibbo as Chairman; Engr. Gbenga Komolafe, Chief Executive; Hassan Gambo, Executive Commissioner, Finance and Accounts; and Ms Rose C. Ndong, Executive Commissioner, Exploration and Acreage Management.
The chairman of the Petroleum Upstream committee, Senator Akpan Bassey in his presentation, said that the nominees demonstrated sufficient knowledge of the workings of the petroleum industry, especially the upstream petroleum sector, as well as the economics of petroleum exploration and production.
He added that the appointments of the nominees satisfy the requirements of Sections 11 and 18 (1-5) of the Petroleum Industry Act, 2021.
According to the lawmaker, there are no adverse reports against the nominees as record checks and other forms of investigations by security agencies did not reveal any negative trace against them.
President of the Senate, Ahmad Lawan after the nominees were confirmed, said the establishment of the Nigerian Upstream Regulatory Commission would provide a foundation for the stabilization of the petroleum industry in Nigeria.
Meanwhile, the Senate has also passed the revised 2022-2024 Medium Term Fiscal Framework ahead of the 2022 budget presentation before a joint session of the National Assembly by President Muhammadu Buhari on Thursday.
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President Buhari had in his letter to the upper chamber on Wednesday, explained that the revision was necessitated by the need to reflect the new fiscal terms in the Petroleum Industry Act, 2021, as well as other critical expenditures in the 2022 budget.
The MTEF/FSP is the fiscal document upon which the 2022 Appropriation Bill would be predicated upon.
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