The Nigerian Senate has approved Magnus Abe, former Senator representing Rivers South-East, as Chairman of the Board of the Nigerian Upstream Petroleum Regulatory Commission.
Abe, a political ally of FCT Minister Nyesom Wike, was screened by the Senate Committee on Petroleum Resources (Upstream) and received unanimous approval.
Following his appearance, Abe noted that global oil price tensions, sparked by Iran-US tensions, present both challenges and opportunities for Nigeria.
He described the situation as a worldwide challenge, rather than a purely Nigerian problem, when asked about the impact on fuel prices.
Abe, a two-term lawmaker, was allowed to waive his oral presentation, in line with Senate tradition for former lawmakers.
