The Senate has cleared former lawmaker representing Rivers South-East Senatorial District, Magnus Abe, for appointment as Chairman of the Board of the Nigerian Upstream Petroleum Regulatory Commission.
Abe, a political ally of the Minister of the Federal Capital Territory, Nyesom Wike, was screened by the Senate Committee on Petroleum Resources (Upstream) before receiving approval by lawmakers.
The committee, chaired by Senator Eteng Jonah Williams, who represents Cross River Central Senatorial District, screened nominees forwarded by President Bola Tinubu for appointment as chairman and non-executive commissioners of the commission.
In line with the Senate’s tradition for former lawmakers appearing for confirmation, Abe was asked to take a bow and go, having served two terms in the National Assembly.
Speaking with journalists shortly after, Abe said the surge in global oil prices triggered by tensions involving Iran and the United States presents both challenges and opportunities for Nigeria.
Responding to questions on the impact of the escalating global crisis on Nigeria’s fuel prices, he described the situation as a worldwide challenge rather than a purely Nigerian problem.
READ ALSO: National Honours For Ogoni Four Defining Moment In Struggle For Ogoniland — Magnus Abe
According to him, while the conflict has pushed up the cost of fuel and created hardship for Nigerians, the increase in oil prices could also translate into higher national revenues.
“This is a very difficult time for the entire planet. It’s not just a Nigerian challenge; it is a global challenge,” he said.
“You must look at the balancing act. Prices will definitely be affected, but revenues from our oil sales will also be positively affected. There will be some measure of balance in what will happen.”
Abe called for global prayers for an end to the conflict, noting that beyond the economic implications, the crisis was claiming human lives.
Leave a Reply