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Tag: Gbenga Komolafe

  • NUPRC pledges transparent oil licence bid round

    NUPRC pledges transparent oil licence bid round

    Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has reaffirmed the commission’s resolve to deepen transparency as it prepares to launch a new licensing round on December 1. He spoke at the close of a two-day strategic workshop organised by the Commission’s Corporate Communications and Media Unit, in Lagos.

    Represented by the Deputy Director of Human Resources, Corporate Services and Administration, Efemona Bassey, Komolafe emphasised that the engagement reflects the high value the Commission places on the media, describing journalists as indispensable watchdogs and custodians of public trust. Citing Section 22 of the 1999 Constitution (as amended), he noted that the press is constitutionally mandated to hold government accountable. He added that Section 7(m) of the Petroleum Industry Act (PIA) 2021 similarly tasks the NUPRC with publishing reports and statistics on upstream operations—an obligation rooted in transparency and vital to driving industry growth.

    He explained that the missions of both the media and the Commission converge around openness, accountability and service to Nigerians. The workshop, he said, was designed to strengthen journalists’ understanding of the Commission’s regulatory work and the evolving landscape of the upstream petroleum sector. Over the two days, subject-matter experts from exploration, development, production, acreage management, economic regulation and host community relations provided detailed insights into the sector’s operations.

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    Highlighting global trends, Komolafe noted that while investments in oil and gas are declining globally due to the accelerating energy transition, Nigeria continues to make steady strides. This progress, he said, is bolstered by the regulatory clarity provided by the PIA and enhanced by President Bola Ahmed Tinubu’s Executive Orders.

    According to him, Nigeria’s daily crude output has surpassed 1.7 million barrels per day multiple times in 2025, showing potential to exceed OPEC thresholds. The nation’s rig count has risen to nearly 70, with more than 40 rigs active, while billions of dollars in Final Investment Decisions have been secured. Within the past 10 months alone, the Commission has approved Field Development Plans valued at approximately $20 billion.

    Reaffirming the Commission’s commitment to achieving the national goal of adding one million barrels per day to production capacity, Komolafe said the forthcoming licensing round will be even more transparent and globally competitive than the 2024 exercise. The initiative, he added, is aimed at unlocking new frontiers, growing reserves and attracting fresh capital into the sector.

    Komolafe stressed that as regulatory reforms advance; the media’s role becomes even more crucial. Nigeria’s standing as Africa’s leading producer, he argued, depends not only on geology, policy and regulation but also on how the nation’s energy narrative is shaped. Because investor sentiment is strongly influenced by perception, he urged journalists to ensure their reporting remains factual, balanced and development-oriented.

    He encouraged reporters to place national interest at the heart of their work as Nigeria competes for global energy investment. Komolafe reiterated that the Commission is committed to transparency, noting that it consistently publishes data on its website, social media channels and in its quarterly magazine, The Upstream Gaze. These platforms, he said, will continue to be strengthened to provide broader access to accurate information.

    He echoed President Tinubu’s admonition to editors at the 21st Nigerian Guild of Editors Annual Conference: “Report boldly, but truthfully. Critique government policy with knowledge and fairness, your goal should not be to tear down, but to help build a better society.”

  • Komolafe dedicates doctorate award to Nigeria

    Komolafe dedicates doctorate award to Nigeria

    The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has dedicated the professional doctorate in leadership (Energy Law) from the International Business School of Scandinavia to Nigeria.

    In his acceptance speech, Komolafe dedicated the award to the Nigerian people, describing it as a reflection of their resilience and the government’s commitment to reform.

    NUPRC Head, Media and Strategic Communication, Mr. Eniola Akinkuotu made the disclosure in a press statement at the weekend.

    He quoted Komolafe as saying, “This award belongs to Nigeria. It recognises the courage and faith that drive our reforms in the upstream oil and gas sector. We are building a transparent, accountable, and investment-friendly system that reflects our national values and global aspirations.”

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    Komolafe was also  honoured with the Global Sustainable Leadership Award at the Global Sustainable Education and Leadership (G-SEL) Conference 2025, held at the House of Lords, Palace of Westminster, United Kingdom.

    The two-day event, which drew senior policymakers, business leaders, and diplomats from across the world, recognised Engineer Komolafe’s exceptional leadership in steering reforms under the Petroleum Industry Act (PIA) and positioning Nigeria as a credible, transparent, and competitive energy investment destination.

    Since assuming office, he has been instrumental in deepening Nigeria’s upstream regulatory transformation.

    Under his watch, the country’s active rig count surged from just eight in 2021 to over 40 while the total number of rigs stands at 69 as of October 2025.

  • Komolafe’s rise to AFRIPERF chair, a vote of confidence in Nigeria’s oil reforms — PAREF

    Komolafe’s rise to AFRIPERF chair, a vote of confidence in Nigeria’s oil reforms — PAREF

    The Pan-African Regulatory Excellence Forum (PAREF) has commended the appointment of Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as the interim chairman of the newly launched African Petroleum Regulators Forum (AFRIPERF), describing it as a “fitting recognition of Nigeria’s reform leadership in the oil and gas sector”.

    In a statement signed on Monday by its executive director, Dr Aisha Njoroge, PAREF said Komolafe’s emergence reflects Africa’s growing confidence in Nigeria’s regulatory reforms and its capacity to drive a new era of collaboration across the continent’s petroleum industry.

    AFRIPERF, inaugurated during the Africa Oil Week in Accra, Ghana, on September 18, 2025, brings together petroleum regulators from 16 African countries, eight of which — including Nigeria, Ghana, Gambia, Madagascar, Sudan, Guinea, Togo, and Somalia — have already signed the forum’s charter.

    The body aims to harmonize oil and gas laws, standards, and compliance systems across Africa, addressing decades of policy fragmentation that have discouraged cross-border investment and weakened collective bargaining power in global markets.

    PAREF described Komolafe’s appointment as “a vote of confidence in reform-driven leadership and Nigeria’s commitment to transparency and innovation”.

    “The emergence of Gbenga Komolafe as interim chairman of AFRIPERF is a significant step for Africa’s energy governance. It validates Nigeria’s post-PIA reforms and offers a rare opportunity to convert the rhetoric of regional cooperation into measurable outcomes,” the statement read.

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    Dr Njoroge said the forum must demonstrate early credibility by focusing on harmonization of gas measurement standards, emissions regulations, digital compliance systems, and transparent reporting templates for oil and gas production.

    “The success of AFRIPERF will not depend on how many countries join, but on the quality of what it delivers. The continent cannot afford another bureaucratic platform. AFRIPERF must be a practical institution that strengthens efficiency, transparency, and environmental responsibility,” she said.

    According to PAREF, Africa’s oil-producing nations currently operate under widely differing fiscal regimes, licensing procedures, and environmental standards; challenges that have limited intra-African trade and created inefficiencies in investment management.

    The think tank said the establishment of AFRIPERF under Komolafe’s leadership presents an opportunity to address these gaps and position Africa as a more coordinated bloc in global energy diplomacy.

    However, PAREF warned that the success of the initiative will depend on inclusivity and independence from political interference.

    “Regulatory convergence should not become regulatory domination. Smaller or less-resourced countries must not be sidelined. Every member must have an equal voice in the decision-making process if the forum is to maintain legitimacy,” Njoroge cautioned.

    She also raised concerns about capacity disparity among African regulators, noting that while some countries have digitized regulatory systems and robust data monitoring frameworks, others still rely on manual audits and outdated infrastructure.

    “AFRIPERF must create mechanisms for shared learning and resource pooling. Without a plan for cross-border training and knowledge exchange, the forum may inadvertently deepen existing inequalities,” she added.

    On financing, PAREF advised that the forum should adopt a transparent and sustainable funding model, avoiding overdependence on donor agencies.

    “AFRIPERF’s independence is crucial. While partnerships with development institutions may help, Africa’s regulatory destiny must be defined by African priorities, not external agendas. Member states should fund the forum equitably and transparently,” the statement said.

    Dr Njoroge said Komolafe’s track record at NUPRC — particularly his focus on data transparency, digital licensing, host community development, and anti-theft monitoring systems — makes him “uniquely qualified” to lead the continent’s regulatory convergence effort.

    She added that Nigeria’s Petroleum Industry Act (PIA) reforms of 2021 had already positioned the NUPRC as one of Africa’s most advanced energy regulators, providing a model that AFRIPERF could replicate.

    “With Mr. Komolafe’s experience, Africa now has a chance to build a truly harmonized petroleum regulatory framework that supports energy transition, economic diversification, and shared prosperity,” she said.

    The forum urged African governments to support AFRIPERF’s agenda and to “seize this moment to build a united front in global energy governance”.

    “Africa must speak with one voice. Komolafe’s leadership offers the credibility, but the continent must now provide the political will,” Njoroge advised.

  • Oil and Gas Integrity Forum hails NUPRC, Komolafe for driving PIA success

    Oil and Gas Integrity Forum hails NUPRC, Komolafe for driving PIA success

    The Nigeria Oil and Gas Integrity Forum has applauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its “critical and patriotic role” in ensuring the successful implementation of the Petroleum Industry Act (PIA), a law widely regarded as a turning point for Nigeria’s oil and gas sector.

    In a statement issued on Saturday, the forum’s President, Vivian Okorafor, emphasised that the PIA’s passage would have had little impact without the “visionary, competent, and firm regulatory leadership” shown by the NUPRC under the guidance of Engr. Gbenga Komolafe.

    “The PIA was a monumental achievement, but the real success story is what followed. Without the solid and transparent enforcement of the law by NUPRC, we would still be grappling with regulatory uncertainties, capital flight, and investor distrust. Today, because of strong leadership at the NUPRC, Nigeria’s upstream sector has regained the confidence of both local and international investors,” the statement read.

    The forum also praised Komolafe for creating a regulatory environment that promotes growth instead of serving as a bureaucratic bottleneck. It noted that under the NUPRC’s leadership, key investment indicators in the sector have shown steady and positive progress.

    “In the past, regulatory opacity drained our oil industry of investments. But the NUPRC under Engr. Komolafe has reversed that trend. Transparent bid rounds, clear licensing processes, streamlined procedures — these have restored faith in Nigeria’s petroleum sector and placed us on a competitive global footing once again,” Okorafor said.

    She also highlighted the Commission’s focus on promoting Nigerian content and encouraging indigenous companies, saying these steps were crucial for broad-based economic development.

    “One of the quiet revolutions happening under the NUPRC is the deliberate empowerment of indigenous operators. For the first time in decades, we are seeing more Nigerian companies participating actively in the upstream space, thanks to policies that favour transparency, merit, and homegrown expertise,” she said.

    The forum further applauded NUPRC’s introduction of digital platforms that have simplified regulatory compliance, boosted efficiency, and reduced corruption in the oil and gas sector.

    “Technology is now being deployed smartly to plug leakages. Licensing, reporting, and monitoring are now largely digital, making it difficult for underhanded dealings to thrive. This is part of the transformational thinking that the NUPRC leadership has brought into the regulatory ecosystem,” she added.

    Okorafor noted that one of the most critical impacts of the PIA implementation has been the new fiscal regime that now makes Nigeria a more attractive destination for upstream investments compared to the pre-PIA era.

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    “Before the PIA and the new fiscal frameworks enforced by NUPRC, Nigeria was losing out to other African nations like Angola and Ghana,” she explained.

    “Today, our fiscal terms are competitive again, our procedures are predictable, and the regulatory environment is much more investment-friendly.”

    Calling on President Bola Tinubu to continue to support independent regulatory institutions like the NUPRC, the forum urged stakeholders across the sector to work hand-in-hand with the Commission to consolidate the gains achieved so far.

    “We urge Mr. President to shield institutions like the NUPRC from political interference. Nigeria must build strong institutions, not strong individuals. Komolafe and his team have shown what can happen when professionalism is allowed to lead. We must nurture and protect that.”

    She concluded by noting that while challenges remain in the oil and gas industry, Nigeria is “finally on the right path”, thanks to the PIA and the leadership shown by NUPRC.

    “No law is perfect. No reform is ever completely painless. But with the NUPRC’s firm handling of the PIA, Nigeria has a chance to write a new chapter in its oil and gas history — one marked by transparency, growth, and shared prosperity.”

    The Nigeria Oil and Gas Integrity Forum pledged to continue monitoring developments in the sector and supporting initiatives that deepen transparency, expand opportunities, and ensure Nigeria’s energy wealth benefits all citizens.

  • Nigeria’s oil fields, regulatory framework, is investors’ delight, says Komolafe

    Nigeria’s oil fields, regulatory framework, is investors’ delight, says Komolafe

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Commission Chief Executive (CCE), Gbenga Komolafe, an engineer, has reiterated the vast opportunities inherent in the 2024 oil licensing round, saying it offers investors a significant opportunity to contribute to and benefit from Nigeria’s long-term energy growth.

    These opportunities, he noted, are hinged on a combination of robust natural resources, competitive regulatory framework and strategic incentives already put in place by the government, which is said has created a favourable environment for investors. Besides, he added that the country’s commitment to ensuring transparency, social inclusion, and sustainable development further signals a new era of certainty in the nation’s oil and gas industry.

    Komolafe, while addressing participants at the just concluded Africa Oil Week (AOW) Conference which ended in Cape Town, South Africa, at the weekend, informed that the licensing round features more than 31 oil blocks and is supported by a strong regulatory framework under the Petroleum Industry Act (PIA).

    “Nigeria boasts vast untapped potential, including 209.26 trillion cubic feet (TCF) of natural gas reserves, 37.5 billion barrels of crude oil reserves and an oil production capacity of 2.4 million barrels per day (bopd),’ he said.

    According to the CCE, in keeping with the provisions of the PIA, the Commission introduced comprehensive reforms and developed a regulatory framework aimed at modernising the licensing processes, enhancing stakeholder engagement and ensuring environmental sustainability.

    The aim, he added, is to attract both local and international investments that will drive growth and innovation.

    “We have issued a licensing round guideline and published a licensing round plan for the blocks on offer. The licensing round features several blocks selected across varied geological terrains- from the promising onshore basins to the lucrative continental shelves and the unexploited depths of our deep offshore basins”, he revealed.

    He said that to facilitate a smooth licensing process, the NUPRC has outlined a clear roadmap for interested investors which includes prequalification process where companies had to demonstrate technical and financial capabilities, technical and commercial bid submission, evaluation of bids and bid conference, award of licenses or leases and periodic assessments of awardees, or post-award. Besides, he explained that it was pertinent to note that registration and submission of pre-qualification documents have been concluded, a pre-bid conference has been held, and evaluation of submissions and notification of the pre-qualified have also been carried out. All these, he noted, were done in accordance with the stipulated schedule.

    Nigeria, Komolafe revealed, currently has only active rigs, a figure the Commission aims to increase as it offers access to new blocks and modernises the regulatory framework.  He like key advantages that facilitate oil and gas production and export in the country includes her population of approximately 207 million, with 853 km of coastline; 49 producing companies, 251 fields in production, 2,717 Oil-producing strings and 125 gas wells already operational, the sector is primed for expansion.

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    He told the audience that Nigeria’s upstream petroleum sector remains active and full of opportunities, as six additional refineries with a combined capacity of more than 650,000 barrels per day are expected to support increased domestic refining activities, reducing reliance on imported petroleum products.

    On Presidential Executive Orders and industry reforms, Komolafe noted that significant reforms have been introduced to enhance Nigeria’s competitiveness in the global oil and gas industry.

    These include Executive Order No. 40, which provides a range of tax incentives, exemptions and remissions to encourage investments, particularly in deep-water oil and gas projects; Executive Order No. 41, which focuses on strengthening local content compliance while ensuring that the Nigerian Oil and Gas Industry Content Development Act of 2010 is balanced to attract foreign direct investment without hindering development; and Executive Order No. 42, which aims to reduce contracting costs and streamline timelines, making it easier for investors to enter and operate in the Nigerian market.

    Specifically, the NUPRC boss described the PIA 2021 as the cornerstone of the 2024 Licensing Round as it introduces a host of attractive fiscal regimes designed to spur investment. These include tax credits for Greenfield natural gas (NAG) developments, capital allowances for midstream and gas utilisation projects and incentives for deep-water oil and gas projects to unlock vast potential in Nigeria’s offshore fields. The PIA also emphasises harmonious relations between oil companies and host communities, ensuring sustainable prosperity through Host Community Development Trusts.

    On the 2024 Licensing Round, Komolafe revealed that 31 blocks will be available, including seven deep offshore assets from the ongoing mini-bid round and 24 acreages for bidding this year. These blocks are spread across key terrains such as the continental shelf and the Niger Delta, with notable offerings such as PPL 300-CS and PPL 301-CS in the Benin Basin, as well as various Niger Delta deep-water assets like PPL 3017, which already have existing discoveries.

    He stated further that the Nigerian Licensing Round comes with entry fees and bonuses that are competitive on the global stage. For example, signature bonuses for blocks in the Middle East and North Africa can reach US$10 million, while Southeast Asia’s signature bonuses typically range from US$1 to US$3 million. Nigeria’s incentives and reduced front-loaded fees are expected to attract a broad range of investors.

    Nigeria’s oil and gas future is also tied to the development of key matured fields, which offer substantial opportunities for growth. These include OML 145 – Nsiko Field, OML 118 – Bonga Southwest / Aparo Field, and OML 130 – Egina South Field. These fields, alongside others in development, form a critical part of Nigeria’s long-term strategy to increase production capacity and maximise its reserves.

    Komolafe urged on investors to take advantage of the 2024 Licensing Round and invest in a nation with a population of over 217 million people and proven reserves, maintaining that Nigeria is home to some of the world’s largest oil and gas reserves, offering benefits such as regulatory certainty, attractive fiscal regimes, ease of doing business and reduced entry barriers.