Akume charges NUPRC, NALDA on transparency, fiscal stability

The Federal Government has moved to strengthen oversight in Nigeria’s critical oil and agricultural sectors, with a stern charge to the newly inaugurated Boards of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the National Agricultural Land Development Authority (NALDA) to prioritise corporate governance and fiscal accountability.

George Akume, Secretary to the Government of the Federation (SGF), who performed the separate inaugurations on Tuesday in Abuja, described the move as a significant milestone in President Bola Tinubu’s ‘Renewed Hope Agenda,’ aimed at deepening sectoral reforms and accelerating inclusive growth.

At the NUPRC inauguration, Akume emphasised that the Board’s emergence is a critical step in the full implementation of the Petroleum Industry Act (PIA). He tasked the members with providing the strategic oversight necessary to optimize revenue generation and enhance investor confidence in Nigeria’s upstream sector.

“Members of the Board, your charge is clear. You are to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence,” the SGF said.

He noted that the effective regulation of the upstream sector remains central to Nigeria’s long-term fiscal sustainability and energy security.

In his response, Magnus Abe, Chairman of the NUPRC Board, pledged the Board’s commitment to delivering on the objectives of the PIA. “We are very grateful to the President and we want to assure him that we will not disappoint him,” Abe stated, adding that the board would work closely with management to meet government expectations.

Turning to the agricultural sector, the SGF reaffirmed the government’s commitment to land development as a primary vehicle for food security and job creation.

He highlighted NALDA’s role in driving flagship initiatives such as the Renewed Hope Mega Farm Estates and the Green Hope Project, which focuses on climate-smart greenhouse farming.

Akume tasked the NALDA Board to scale up these programs across more states, leverage technology, and expand opportunities specifically for youth and women in the agricultural value chain.

Kabir Abdullahi Barkiya, Chairman of the NALDA Board, noted that the appointment is a call to service to strengthen agriculture as a cornerstone of national development.

“As a Governing Board, our mandate is clear: to provide strategic direction, ensure sound governance, and uphold transparency and accountability,” Barkiya said.

The inauguration of both Boards is expected to provide institutional stability and policy direction for two sectors that are pivotal to Nigeria’s economic diversification and revenue optimization strategies.