The commission Chief Executive, NUPRC, Mr Gbenga Komolafe made this statement during a visit to the exhibition booth of Green Energy International at the Offshore Technology Conference in Houston, Texas, United States of America (USA).
He said that the oil and gas industry regulator would continue to provide timely licensing and other regulatory approvals needed by companies like Green Energy International, whose business models rely on fast-paced growth.
He said that, in spite of policies around energy transition and a deliberate shift to renewable energy projects, Green Energy International had been able to secure funding for its projects.
He said that because the company was able to secure funding for its various projects, it was clear that he needed all the right support in order to continue growing.
‘‘If you look at what the company has done. You will discover that they have tried to leverage on in-country capability and that is in alignment with what NUPRC is doing. We have come here as a commission to give them encouragement and to assure the company that the NUPRC will give them all the backing as a business enabler.”
Komolafe said that NUPRC would make sure its policies and regulations were designed to encourage businesses to grow.
Citing a number of businesses that were struggling to stay afloat, he said companies would be requiring different types of permits and licenses for operational efficiency in order to reduce unit cost and thus become more competitive.
Additionally, the co-founder and chairman of Green Energy International, Professor Anthony Adegbulugbe said that his company has been operating in OML 11 since 2006.
He explained that the company was set up to explore all aspects of the oil and gas value chain for the benefit of its stakeholders and Nigerian economy.
He further stated that the goal of his company is to create localized markets based on small-scale opportunities in its home communities, Nigeria and Africa as a whole.
