The Nation Newspaper

Category: Energy

  • Akwa Ibom, Rural Electrification agency sign MOU on renewable energy

    Akwa Ibom, Rural Electrification agency sign MOU on renewable energy

    Akwa Ibom Governor, Pastor Umo Eno has declared that electricity remains the single most important driver of the State’s development agenda, stressing that the era of energy insecurity in the state is over.

    Speaking at the Rural Electrification Agency (REA) and Akwa Ibom State Strategic Roundtable held in Abuja on Wednesday, September 10, 2025 before signing a Memorandum Of Understanding with the agency,

    Eno said Akwa Ibom is now pivoting from policy formulation to practical implementation and delivery of electricity solutions that will transform lives and power industries.

    “We have moved from aspiration to legal and institutional foundation. Today, we pivot to implementation and delivery,” the excited Governor said.

    He explained that the State has, within the past year, delivered the Akwa Ibom State Electricity Policy (2024), enacted the Electricity Law (2025), and established regulatory frameworks for the implementation of the new regime.

    Governor Eno stressed that electricity is central to his administration’s economic blueprint, the ARISE Agenda, which focuses on agriculture, industry, schools, hospitals, digital hubs, women-led enterprises, and job creation across the State.

    He assured investors that his administration will provide land, expedite permits, ensure regulatory clarity, and facilitate financing to guarantee project success.

    “Electricity is the key driver of our purpose to ensure that every Akwa Ibomite, in every corner of this State, can live with dignity and opportunity in the 21st century,” he said, urging RESCOs and private sector investors to move from ideas to concrete projects within 15–18 months.

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    The Governor added that Akwa Ibom will adopt measures that will leverage the rich natural gas and small hydro resources in the State while creating room for renewable energy, to achieve a sustainable energy transition.

    Deputy Governor, Dr. Akon Eyakenyi, in her welcome remarks, described the event as a “critical milestone” in the State’s journey to deliver universal electricity access, noting that off-grid deployment is vital to reaching unserved and underserved communities.

    Managing Director of the Rural Electrification Agency, REA, Aliyu Baba, commended Governor Eno’s commitment to rural development, stressing that the ARISE Agenda aligns with the national electrification initiative. He noted that REA will continue to partner with states to attract private sector investors and ensure affordable electricity for rural dwellers.

    Commissioner for Power, Rt. Hon. Iniobong Robson Etebe, in his presentation on Renewable Energy Opportunities in the Akwa Ibom State Electricity Market, highlighted investment prospects in solar, hydro, and gas-to-power solutions.

    He affirmed that the government has created a conducive environment for investors to thrive, with policies designed to make projects viable and sustainable.

    The roundtable also featured an overview of the REA Community Mapping Tool by the Technical Adviser of the Nigerian Electrification Program (NEP) and the formal signing of a Memorandum of Understanding (MoU) between the Akwa Ibom State Government and the REA to strengthen collaboration.

    Eno was accompanied to the roundtable by the Deputy Governor, Senator Akon Eyakenyi; the Secretary to the State Government, Prince Enobong Uwah; the Executive Assistant and Chief Delivery Advisor, Mr. Aniefiok Johnson; the Attorney General and Commissioner for Justice; the Commissioner for Local Government and Chieftaincy Affairs; as well as the Commissioners for Power, Finance, and Information, and the Special Adviser on Rural Development and Cooperatives.

  • FG moves to secure $400m decommissioning liabilities

    FG moves to secure $400m decommissioning liabilities

    The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has said Nigeria is applying lessons from costly global divestment cases to safeguard its oil and gas sector, securing over $400 million in decommissioning liabilities and setting stricter rules for recent asset transfers.

    The CCE disclosed this on Wednesday during his remarks at the Nigerian Extractive Industries Transparency Initiative (NEITI) Companies Forum, held in Lagos.

    Komolafe, who was represented by the Deputy Director, Human Resources, Corporate Services & Administration, Efemona Bassey, spoke on the theme, “Divestments, Liabilities, and the Impact of Ongoing Reforms on Extractive Companies in Nigeria.”

    This was contained in the press statement of the commission’ Head, Media and Strategic Communications, Eniola Akinkuotu.

    According to the statement, the NUPRC boss said the Commission had drawn lessons of divestments from lessons of the North Sea, where decommissioning is estimated at £27bn by 2032, the Gulf of Mexico costing over $9bn and in Canada’s Alberta, more than 97,000 inactive or abandoned wells now carry an estimated decommissioning and abandonment cost of between C$30 and C$70bn.

    In Australia, Northern Oil & Gas Australia in 2019 left behind liabilities of more than AU$200m.

    The CCE stated that the lessons from these experiences guided the recent divestment approvals from NAOC to Oando Energy Resources; Equinor to Chappal Energies; Mobil Producing Nigeria Unlimited to Seplat Energies; SPDC to Renaissance Africa Energy; and TotalEnergies to Telema Energies.

    The CCE said, “Without a robust and enforceable framework for abandonment and decommissioning, divestment transitions can create lasting financial and environmental burdens.

    “Nigeria is not immune to this challenge, and if we are to avert costly mistakes. It is precisely to avoid this outcome that Nigeria, through the Petroleum Industry Act and subsequent regulatory actions, has taken bold and decisive steps.”

    The NUPRC boss highlighted Nigeria’s response to the recent divestments in line with Sections 232 and 233 of the PIA, which place full responsibility for the decommissioning and abandonment of petroleum wells, installations, structures, utilities, plants, and pipelines on licensees and lessees.

    Similarly, Chapter 3 of the PIA and Section 104 of the PIA establish specific obligations for host community development and environmental remediation, respectively.

    Read Also: NUPRC seeks NNPCL, TotalEnergies’ early investments on new oil blocks

    He said each of the 2024 divestments provided a critical opportunity to put the Commission’s Divestment Framework to the test and action: rigorously assessing the technical capacity of acquiring entities, verifying their financial strength, and securing decommissioning and abandonment obligations through upfront escrow arrangements.

    Komolafe said, “The results from 2024 speak for themselves. Over US$400 million in pre-sale decommissioning and abandonment liabilities have been secured through Letters of Credit and escrow accounts.

    “Host Community Development Trust obligations are fully honoured. Environmental remediation commitments worth over US$9.2 million have been pledged while awaiting the formal gazetting of the ERF Regulations.”

    The CCE said beyond the significant progress achieved through our Divestment Framework, it is important to highlight another milestone.

    “Since April 2023, we have approved 94 decommissioning and Abandonment (D&A) plans, in strict alignment with the PIA. These approvals represent total liabilities of $4.424 billion, arising from all Field Development Plans submitted within this period, and will be remitted progressively over the production life of the respective fields into designated escrow accounts,” he added.

    He further disclosed that the Commission has addressed a long-standing concern with the IOCs regarding the domiciliation of the escrow accounts, and the regulatory framework, developed after extensive consultations with industry stakeholders, is now awaiting gazetting by the Ministry of Justice.

    He acknowledged the invaluable role of NUPRC partners, NEITI, and Oil Producers Trade Section (OPTS).

    According to him, as the moral compass of the extractive industry, NEITI has consistently ensured that NUPRC embedded transparency and disclosure in all its regulatory processes, while OPTS, the united voice of producers, has supported us in shaping regulations that balance industry realities with national priorities.

    He added, “In addition to divestments, the Commission has been working together with operators, particularly members of OPTS, on life extension projects, ranging from facility integrity audits to subsea upgrades and enhanced reservoir management measures that sustain safe production, delay decommissioning, reduce environmental risks, and secure resilience across our mature fields.”

  • PEWAI hails Dangote Refinery for upholding workers’ rights, safeguarding economic stability

    PEWAI hails Dangote Refinery for upholding workers’ rights, safeguarding economic stability

    The Petroleum Workers Advancement Initiative (PEWAI), a coalition championing the welfare of oil and gas workers and Nigeria’s economic stability, has lauded Alhaji Aliko Dangote and the management of Dangote Refinery for respecting workers’ rights and averting a nationwide disruption following the suspension of a planned strike by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

    In a statement on Wednesday, PEWAI President, Comrade Ebikeme Okorotie, praised the memorandum of understanding (MoU) signed on September 8 between Dangote Refinery, NUPENG, and other stakeholders as a decisive step toward strengthening industrial harmony and advancing national development.

    The MoU, endorsed by Sayyu Dantata, Managing Director of Dangote Group; Ogbugo Ukoha, Executive Director of Distribution Systems, Storage, and Retailing Infrastructure at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA); Benson Upah, Acting General Secretary of the Nigeria Labour Congress (NLC); and Nuhu Toro, General Secretary of the Trade Union Congress (TUC), effectively shelved the strike scheduled to begin September 8, 2025.

    Under the agreement, workers at Dangote Refinery and its petrochemical units are granted the freedom to unionise without fear of victimisation. The unionisation process is set to commence immediately and conclude between September 9 and 22, 2025.

    PEWAI described the resolution as a commendable show of responsible leadership by Dangote, adding that his commitment to upholding workers’ constitutional rights demonstrates a balance between employee welfare and Nigeria’s broader economic stability.

    “Dangote’s management has shown that it is possible to respect workers’ rights while simultaneously promoting economic growth,” Comrade Okorotie said. 

    “By engaging in dialogue, negotiating in good faith, and ensuring that no worker will be victimised, the Dangote Group has set a benchmark for industrial relations in Nigeria’s oil and gas sector.”

    The group also emphasised the national importance of the refinery, noting that any disruption in its operations could have significant repercussions on fuel supply, job security, and economic progress. 

    PEWAI warned NUPENG and other unions to exercise prudence in pursuing industrial action, stressing that Nigerians will be watching closely and will not allow any union to derail the ongoing progress in the economy being driven by Dangote’s refinery operations.

    “While we acknowledge the right of workers to unionise, this must be balanced with the wider responsibility to the nation,” Okorotie added. 

    “The refinery represents billions of naira in investment, thousands of jobs, and critical infrastructure. Any action that threatens its operations is an action that threatens all Nigerians.”

    PEWAI also urged other corporate players in the petroleum sector to emulate Dangote’s approach by combining respect for workers’ rights with responsible economic stewardship. 

    Read Also: Dangote Refinery slashes PMS price by N30

    According to the group, fostering industrial harmony is not only a legal and ethical obligation but also a catalyst for sustained growth and development.

    The coalition commended the roles of the NLC, TUC, and other stakeholders in facilitating the MoU, describing their involvement as critical to averting potential disruption and maintaining confidence in the petroleum sector.

    “Industrial disputes are inevitable in any dynamic economy, but the way they are resolved defines the health of the nation’s labour relations and economic trajectory. Dangote’s leadership, combined with the willingness of the union to engage in dialogue, has prevented a crisis and ensured that progress continues,” PEWAI said.

    The group further reiterated its call for all unions in the oil and gas sector to act responsibly, warning that while worker rights must be respected, they should not be pursued at the expense of citizens’ economic welfare or national development.

    “Dangote has shown that business leadership and national interest can coexist. We expect all stakeholders to maintain this path and for unions to exercise their rights with wisdom and patriotism,” Okorotie said.

  • NUPENG calls off strike after DSS- brokered truce with govt, unions

    NUPENG calls off strike after DSS- brokered truce with govt, unions

    The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called off its industrial action after the Department of State Services (DSS) brokered a truce between the Federal Government, oil industry stakeholders, and organised labour.

    It was gathered  that the resolution followed a high-level meeting convened in Abuja with key government officials, representatives of Dangote Refinery, and leaders of major trade unions.

    Those in attendance were Minister of Finance, Mr Wale Edun; Minister of Labour and Employment, Mr Mohammed Maigari Dingyadi; Minister of State for Labour and Employment, Mrs Nkeiruka Onyejeocha; and the Dangote Refinery delegation led by Alhaji Sayyu Dantata.

    Also present were labour leaders.includinh Mr Akpouha Williams of NUPENG, Mr Benson Upah of the Nigeria Labour Congress (NLC), and Dr NA Toto, mni+, of the Trade Union Congress (TUC).

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    After hours of deliberation, both parties resolved to uphold existing labour laws, with emphasis that employees must not be compelled to join any union, and should retain the freedom to either affiliate with or decline membership of any labour body.

    Other outstanding issues of contention were also resolved, culminating in the signing of a memorandum of understanding (MoU) by all stakeholders.

    The agreement led to the immediate suspension of NUPENG’s strike action, which had threatened to disrupt petroleum supply and distribution across the country.

    Government officials hailed the outcome as a significant step towards industrial peace, while labour leaders reaffirmed their commitment to protecting workers’ rights within the boundaries of the law.

  • NLNG MD Mshebila, Sen Jimoh Ibrahim attend World Gas Summit in Milan

    NLNG MD Mshebila, Sen Jimoh Ibrahim attend World Gas Summit in Milan

    Dr. Philip Mshebila, Managing Director of the Nigeria Liquefied Natural Gas (NLNG), and Senator Jimoh Ibrahim, representing Ondo South Senatorial District, were among the notable participants at the World Gas Summit held in Milan, Italy, on Tuesday, September 9.

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    The high-profile event brought together global energy leaders, policymakers, and industry stakeholders to discuss innovations, investment opportunities, and the future of natural gas in driving sustainable energy solutions.

    Their presence underscores Nigeria’s strategic role in the global energy transition and its commitment to fostering international partnerships in the gas sector.

  • Thunder storm shatters transmission line

    Thunder storm shatters transmission line

    The Transmission Company of Nigeria (TCN) has said  a thunderstorm that occurred late in the evening of September 3, 2025, caused the snapping of the 132kV Otukpo–Nsukka–New Haven line.

    According to a press statement its Public Affairs, General Manager issued yesterday, the cut conductor fell to the ground near Tower 97 along the route.

    The statement said, “The Transmission Company of Nigeria (TCN) wishes to inform the public that a thunderstorm that occurred late in the evening of September 3, 2025, caused the snapping of the 132kV Otukpo–Nsukka–New Haven transmission line.

    “The cut conductor fell to the ground near Tower 97 along the route.”

    She further noted that although there was no loss of human life, the high-voltage discharge from the fallen conductor unfortunately torched a house built under the transmission line, close to the tower, burnt a car parked under the transmission line right-of-way and killed two cows along the route.

    According to her, immediately following the incident, the Regional Manager of TCN, Enugu Region, Engr. Tom Inugonum and his team visited the site of the incident for an on the ground assessment  of the incident.

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    The statement reads in part: “TCN’s Quick Response Line Maintenance Team has also been deployed to the site and has since commenced dismantling the damaged section of the line in preparation for restringing a new conductor.

    “Despite the disruption, there has been no load loss to the Nsukka area, which is normally supplied through the affected transmission line. TCN has implemented a temporary alternative power supply arrangement by diverting bulk electricity through the Otukpo 132kV Transmission Substation to Enugu Electricity Distribution Company (EEDC) for onward distribution to the Nsukka axis.

    “TCN appreciates that no human casualties occurred as a result of the incident. However, this serves as a stark reminder of the critical need to avoid building, parking, or engaging in any activities within the transmission lines’ Right of Way (RoW). The company emphasizes that such encroachments are extremely dangerous and pose serious risks to lives and property.

    “We urge the public to always respect the integrity of power infrastructure and comply with safety guidelines around transmission facilities. TCN remains committed to maintaining a stable and secure national grid while ensuring public safety.”

  • Dangote refineries: Economic rights activists condemn NUPENG, NLC over threats of nationwide strike

    Dangote refineries: Economic rights activists condemn NUPENG, NLC over threats of nationwide strike

    The Economic Rights Activists (ERA) has condemned the Nigeria Labour Congress (NLC), the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and other affiliated unions for their planned nationwide strike, which threatened to disrupt fuel distribution and cripple Nigeria’s economic life. 

    During a briefing in Abuja, ERA’s Executive Director, Dr. Josiah Inuwa, described the proposed industrial action as a “reckless and unpatriotic” assault on the Nigerian people, warning that it would inflict severe hardship on millions while potentially serving the interests of economic saboteurs. 

    The unions’ grievances stem from alleged anti-union practices at the Dangote Refinery and accusations of monopolistic control in the downstream petroleum sector. 

    Inuwa argued that the strike would primarily harm ordinary citizens—small business owners, transport operators, and families—rather than corporate giants. 

    READ ALSO: How Nigeria can achieve ICT’s 21% GDP target – MTN boss

    “The okada rider in Enugu, the pepper seller in Osun, the teacher in Kaduna, and the mechanic in Port Harcourt will bear the brunt,” he stated. “Transport fares will skyrocket, food prices will soar, hospitals will lose power, and small businesses will collapse. This is not a fight for justice—it is a direct attack on the Nigerian people.” 

    The ERA highlighted the devastating impact of past oil sector strikes, such as the 2012 fuel subsidy protests and the 2020 industrial actions, which cost the economy billions of naira daily and deepened recessionary pressures. 

    The group warned that the proposed strike could trigger similar losses, threatening Nigeria’s fragile economic recovery under President Bola Ahmed Tinubu’s reforms. 

    Inuwa raised concerns about the timing of the strike, noting its alignment with efforts by vested interests to undermine Nigeria’s push for energy self-sufficiency through the Dangote Refinery, a critical step toward ending decades of reliance on imported fuel. 

    “Whether knowingly or not, NLC, NUPENG, and PETROAN risk becoming pawns of cartels that profit from the status quo,” he said, accusing these groups of orchestrating sabotage to derail the refinery’s success. 

    The ERA also accused union leaders of hypocrisy, pointing to the disconnect between their public rhetoric and private privileges. 

    “Many of these leaders drive in convoys while the masses trek,” Dr. Inuwa remarked. “They negotiate secret deals behind closed doors while claiming to fight for justice in public squares.” 

    He criticised the unions for bypassing civilized dispute resolution mechanisms like arbitration and dialogue, instead resorting to “blackmail” that holds the nation’s fuel supply hostage. “Why choose to strangle a fragile economy at its jugular?” he questioned. “This approach is reckless and unacceptable.” 

    In response, the ERA demanded that NLC, NUPENG, PETROAN, and other unions immediately suspend the strike and return to the negotiation table to resolve grievances through dialogue. 

    They urged President Tinubu, the Ministry of Labour, and relevant agencies to stand firm against union pressure while facilitating constructive engagement. 

    The group also called on Dangote Refinery to transparently address worker concerns regarding unionization and labor conditions, balancing its role as a strategic national asset with fair labor practices. 

    Additionally, the ERA urged the National Industrial Court and the Department of State Services (DSS) to establish mechanisms to deter irresponsible strike threats that weaponize critical sectors like oil and gas. 

    They appealed to the National Assembly to summon all parties involved to ensure transparency and investigate potential sabotage by cartels profiting from Nigeria’s fuel import dependency. 

    Addressing Nigerians directly, Dr. Inuwa called for vigilance against manipulation by “empty rhetoric,” emphasizing that the strike threat is not a noble struggle but a calculated move for control and monopoly. 

    “This is not about workers’ rights—it is about sabotage,” he warned. Praising President Tinubu’s economic reforms as deliberate steps toward recovery, he cautioned that such progress is too fragile to withstand another disruption.

  • Ex-PPPRA ES loses wife

    Ex-PPPRA ES loses wife

    Former Executive Secretary of Petroleum Products Pricing Regulatory Agency (PPPRA), Mr Abiodun Ibikunle, has lost his wife, Alhaja, Princess Adijat Oyeronke Ibikunle (nee Oyeleke).

    She died on Sunday August 31, 2025 after a brief illness at 68.

    According to a by funeral announcement,

    her son Ademola Ibikunle, an eight-day Fidau Prayer holds on Sunday September 7, 2005 for the repose of her soul at 10:30 am at The Podium, 124 T.F. Kuboye Road, Lekki Phase 1, in Lagos.

    Ibikunle’s remains had been laid to rest according to Islamic rites in Offa, Kwara State.

    A mother of three, Mrs Ibikunle was a businesswoman who engaged in wholesale of essential products from Flour Mills, Dangote and Chikki Foods Industry.

    She was a princess of the Obatiwajoye Compound of Anilelerin ruling house of Offa.

    She would be remembered for her devotion, loyalty and commitment to her family (nuclear and extended). 

  • Olagbegi: NNPCL’s Odeh, Adewunmi will be instrumental to increased investment

    Olagbegi: NNPCL’s Odeh, Adewunmi will be instrumental to increased investment

    Daris Tele Limited, Chief Executive Officer, Tokunbo Olateru-Olagbegi, described the Nigerian National Petroleum Company Limited (NNPCL) appointments of Chief Corporate Communications Officer, Mr. Andy Odeh and Chief Relations Officer, Mrs. Morenike Adewunmi as strategic, noting they would be instrumental in attracting investors into Nigeria’s gas sector and deep offshore exploration opportunities.

    In a congratulatory message to the duo, he said the appointments came at a pivotal time to drive the country’s energy transformation agenda.

    The statement, which was issued to The Nation in Abuja on Wednesday, said, “Daris Tele Limited extends heartfelt congratulations to NNPC Limited on the strategic appointments of Mr. Andy Odeh as Chief Corporate Communications Officer and Mrs. Morenike Adewunmi as Chief Relations Officer under the leadership of Engr. Bayo Ojulari.

    “These appointments come at a pivotal moment as NNPCL spearheads Nigeria’s energy transformation agenda, focusing on energy security, eliminating energy poverty, and increasing crude oil production to meet national and global demands.

    Read Also: NNPCL appoints Odeh, Adewunmi as key officers

    “Odeh brings over three decades of communications expertise across oil and gas, advertising, and broadcasting sectors, positioning him to drive NNPCL’s communications strategy during this critical transformation period.

    “Mrs. Adewunmi’s 25+ years of experience spanning legal, oil and gas, and government relations will be instrumental in attracting investors into Nigeria’s gas sector and deep offshore exploration opportunities.

    “As NNPCL prepares for its anticipated public listing on global stock exchanges, these appointments align with the company’s ambitious goal to increase energy sector investment by more than 40% by 2030.

    “This strategic expansion will enhance Nigeria’s position as a leading energy producer while addressing domestic energy needs and positioning the country as a preferred destination for international energy investments.

    “These distinguished professionals will play crucial roles in communicating NNPCL’s vision for energy security and sustainable development,” said Tokunbo Olateru-Olagbegi, CEO of

    Daris Tele Limited. “Their expertise will be vital in galvanising stakeholders and attracting the substantial investments needed to achieve our 2030 energy sector targets.”

    “Daris Tele Limited, an African-focused government relations firm specialising in energy sector strategic communication, investment marketing, and regulatory compliance advisory, pledges full support to the new leadership team.”

  • Stakeholders commend NUPRC over Deepwater PSCs, hail Komolafe’s reformist leadership

    Stakeholders commend NUPRC over Deepwater PSCs, hail Komolafe’s reformist leadership

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has received commendation for its role in supervising the execution of a Production Sharing Contract (PSC) for two offshore oil blocks awarded to the TotalEnergies–Sapetro Consortium, with stakeholders describing the move as another milestone in Nigeria’s oil sector reform journey.

    The PSC’s closing ceremony for the assets, Petroleum Prospecting Licences (PPLs) 2000 and 2001, held in Abuja on Tuesday, marked the conclusion of a process that began in December 2024 with a transparent and competitive bid round supervised by the NUPRC. 

    The award of the blocks, which span about 2,000 square kilometres in the prolific Niger Delta Basin, was made by the Nigerian National Petroleum Company Limited (NNPC) to the consortium of TotalEnergies and Sapetro.

    Applauding the development, the Centre for Energy, Policy and Investment (CEPAI), through its Executive Director, Dr Chika Patrick, said the commission under the leadership of Gbenga Komolafe had brought renewed vigour and credibility to Nigeria’s upstream oil and gas sector, particularly by strengthening transparency, competitiveness, and fiscal discipline.

    “The successful conclusion of the Production Sharing Contracts for PPLs 2000 and 2001 underscores the profound changes that have taken root in Nigeria’s oil industry under the NUPRC. What we are witnessing is the fruit of deliberate reforms that prioritise transparency, investor confidence, and national interest,” Dr Patrick said.

    According to him, the decision of international oil companies with long-standing operations in Nigeria such as TotalEnergies and Sapetro to commit fresh capital to deepwater exploration affirms the credibility of the new PSC framework and the broader policy direction set by the Petroleum Industry Act (PIA).

    “Investors are not swayed by slogans; they respond to clarity, predictability, and fairness. The presence of companies with decades of operations in Nigeria stepping forward to take on new frontier assets reflects the trust they now place in the regulatory and governance environment crafted by NUPRC under Komolafe’s stewardship,” Dr Patrick explained.

    He further noted that the commission’s role goes beyond supervising transactions, stressing that its oversight of licensing terms, cost recovery structures, host community obligations, and environmental safeguards positions Nigeria as a competitive and responsible player in the global energy landscape.

    “What this means for Nigeria is more than just oil. It translates to improved reserves, stronger energy security, new jobs, and deeper local content. The framework ensures value to the federation through signature bonuses, royalties, production milestones, and profit oil sharing, while also placing firm obligations on investors to develop host communities, comply with environmental remediation standards, and plan responsibly for decommissioning. These are the hallmarks of a regulator that is not only forward-looking but also uncompromising in protecting national interest,” he said.

    Dr Patrick also recalled the growing recognition Komolafe has attracted internationally and within Nigeria for his reformist leadership, citing the Servicom Distinguished Trailblazer Award, the Nigerian Association of Petroleum Explorationists (NAPE) Award for Driving Energy Policy Reforms, and the prestigious recognition bestowed at the 2025 Africa Energies Summit in London.

    “These awards are not ceremonial; they are testimonies of impact. They validate the transformational journey Nigeria’s upstream sector has embarked upon. Under Komolafe, NUPRC has become not just an industry regulator, but a symbol of how bold reforms and strong institutions can rewrite the story of an entire sector,” Dr Patrick noted.

    He added that the benefits of the new PSCs extend beyond the oil companies, as the contracts would create space for the growth of indigenous service firms, encourage technology transfer, and accelerate the country’s decarbonisation commitments.

    Read Also: NUPRC seeks NNPCL, TotalEnergies’ early investments on new oil blocks

    “The fact that the framework enshrines obligations on gas utilisation, cost efficiency, and environmental responsibility shows a keen alignment with global energy transition realities. It is a clear signal that Nigeria is not turning its back on sustainability even as it unlocks new hydrocarbon potential,” Dr Patrick said.

    According to CEPAI, the PSC closeout should serve as an invitation to other potential investors to seize the opportunities provided by Nigeria’s revamped regulatory, fiscal, and governance regime.

    “What has happened with PPLs 2000 and 2001 is proof that Nigeria is open for business in a way that respects both investors and citizens. It is a call to other international players and local investors alike to recognise that the framework is ready, the opportunities are vast, and the regulator is competent and fair,” Dr Patrick announced.

    The group expressed confidence that the work to be undertaken under the new contracts would help unlock fresh geological potential in Nigeria’s deepwater, expand production capacity, and boost the nation’s revenues — reinforcing the country’s aspiration to remain Africa’s premier destination for upstream investment.