The Senate Committee on finance is to work with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) towards attracting more investments into the nations oil and Gas Sector.

Chairman of the Senate Committee on Finance, Senator Mohammed Sani Musa gave the indication at an interactive session with the Commission Chief Executive Engr. Gbenga Komolafe.

The Senate Committee, according to Senator Sani is looking at possible ways of generating more revenue for Nigeria that would be a major source of funding to the nations annual budget, which will in turn limit the rate of borrowing by the Federal Government.

Senator Sani and his Colleagues who were specific on how to block leakages, crude oil theft, reduction of unit cost per barrel and security, promised to do anything within their constitutional powers to support the Nigerian Upstream Petroleum Regulatory Commission toward actualizing its statutory mandate as a regulator and a revenue generating agency.

On his part, Engr. Komolafe, explained that, the Nigerian Upstream Oil and Gas Sector has the potentials of attracting more investments that will help maximize revenue for the nation if entry barriers are vacated to pave way for the ease of doing business.

According to the CCE, NUPRC as part of its obligations is pushing for a metering regulation that is targeted towards providing the actual data of daily output by international oil companies operating on the shores of Nigeria.

He further stated that, all these are achievable through, kinetic and non-kinetic approaches.