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  • Tinubu nominates Abe, Adeniji to chair NUPRC, NMDPRA boards, seeks Senate confirmation

    Tinubu nominates Abe, Adeniji to chair NUPRC, NMDPRA boards, seeks Senate confirmation

    …submits 21 nominees for oil and gas regulators

    …urges expeditious approval following CEOs’ confirmation

    President Bola Ahmed Tinubu has nominated Senator Magnus Abe and energy expert, Adegbite Ebiowei Adeniji, as board chairmen of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), respectively, and has asked the Senate to confirm their appointments.

    According to a statement issued on Monday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President, in two separate letters to the Senate, sought confirmation of 21 nominees to serve on the boards of the two key petroleum-sector regulators established under the Petroleum Industry Act (PIA).

    For the NUPRC, President Tinubu nominated Abe, who represented Rivers South-East Senatorial District for two terms, as board chairman.

    Abe is a former board member of the Nigerian National Petroleum Corporation (NNPC) and currently chairs the National Agency for the Great Green Wall.

    Other nominees for the NUPRC board as non-executive commissioners are Engineer Paul Yaro Jezhi, a former chairman of the Trade Union Congress in Kaduna State, and Mr Sunday Adebayo Babalola, a former deputy director of the defunct Department of Petroleum Resources (DPR).

    The President also nominated seven executive commissioners for the NUPRC.

    They are Muhammed Sabo Lamido (Finance); Edu Inyang (Exploration and Acreage); Justin Ezeala (Economic Regulation and Strategic Planning); Henry Darlington Oki (Development and Production); Indabawa Bashari Alka (Corporate Services and Administration); Mahmood Tijani (Health, Safety and Environment); and Ms Olayemi Adeboyejo as Secretary and Legal Adviser.

    While Lamido and Adeboyejo were first appointed in 2022 under former President Muhammadu Buhari, and Alka in 2023 by President Tinubu, Inyang, Ezeala, Tijani, Babalola, and Jezhi are new nominees.

    In the second letter, the President nominated Adeniji, a lawyer with over 30 years’ experience in energy and natural resources, as chairman of the NMDPRA board.

    Adeniji previously served as special technical adviser to the Minister of State for Petroleum on upstream and gas issues and was part of the World Bank Oil and Gas Policy team that advised Nigeria on petroleum-sector reforms.

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    He is currently the managing partner at ENR Advisory.

    Also nominated as non-executive members of the NMDPRA board are Chief Kenneth Kobani, a former Minister of State for Trade and ex–Secretary to the Rivers State Government, and Mrs Asabe Ahmed.

    Other nominees include Abiodun Adeniji (Executive Director, Finance); Francis Ogaree (Executive Director, Hydrocarbon); Oluwole Adama (Executive Director, Midstream and Downstream Gas Infrastructure); and Dr Mustapha Lamorde (Executive Director, Corporate Services and Administration).

    Additional proposed members are Yahaya Nasamu Yinusa (Executive Director, Distribution Systems); Adeyemi Murtala Aminu (Executive Director, Corporate Services); Ms Modie Ogechukwu (Executive Director, Economic Regulation and Strategic Planning); and Barrister Olawale Dawodu as Board Secretary and Legal Adviser.

    President Tinubu urged the Senate to consider and approve the nominations expeditiously, noting that the requests followed the recent confirmation of the chief executive officers of the two agencies.

    The Senate had earlier confirmed Oritsemeyiwa Eyesan as CEO of the NUPRC and Engineer Saidu Aliyu Mohammed as CEO of the NMDPRA.

    According to the statement, the President charged all appointees and nominees “to discharge their duties and responsibilities professionally as regulators of the oil and gas sectors.”

  • JUST IN: Eyesan assumes duty in NUPRC

    JUST IN: Eyesan assumes duty in NUPRC

    • …vows to reset upstream 

    The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the Commission as enshrined in the Petroleum Industry Act (PIA) 2021.

    The NUPRC boss said this during her first town hall meeting with management and staff on Tuesday 23rd December 2025.

    NUPRC’s Head, Media & Strategic Communications, Mr. Eniola Akinkuotu made this known in a press statement yesterday.

    According to the statement, she further disclosed plans to make the Commission a business enabler and reignite investments in the upstream sector.

    Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.

    The CCE said, “The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.

    “My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry.”

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    The Commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.

    The CCE said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. 

    She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.

    On leadership style, the CCE promised an open-door policy and frequent staff engagement. Mrs. Eyesan also solicited for support and cooperation as the industry embarks on the next phase of transformation.

    “If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added. 

  • Okumagba congratulates Eyesan on appointment as NUPRC CEO

    Okumagba congratulates Eyesan on appointment as NUPRC CEO

    Prominent Leader of APC in Delta State and former Commissioner for Finance, Olorogun Bernard Okumagba, has congratulated Mrs Oritsemeyiwa Eyesan on her appointment as CEO of Nigeria Upstream Petroleum Regulatory Commission (NUPRC). 

    In a statement on Monday, Olorogun Okumagba noted that Eyesan has had a distinguished career in the Oil and Gas Industry culminating in her last responsibility as Executive Vice President Upstream in the NNPC which she discharged excellently. 

    Okumagba commended President Bola Ahmed Tinubu on the appointment and praised the determination of Eyesan to bring about positive changes in the Petroleum Upstream sector. Okumagba particularly commended Eyesan’s commitment to “Digitisation and Automation” as amplified at her Senate Screening.

    He stated: “Our country needs to do more in the metering and comprehensive monitoring of oil and gas production across Nigeria’s upstream petroleum operations. We need to do more in deploying advanced technologies that enhance operational efficiency, transparency, and environmental sustainability within the oil and gas sector in alignment with international best practices. 

    Read Also: Senate okays new CEOs for NUPRC, NMDPRA

    “We need to do more in the establishment of a centralised control and data monitoring centre to provide real-time visibility of oil and gas production, flare-gas volumes, emissions data, accurate revenue capturing and operational compliance across oil and gas fields nationwide.”

    Okumagba noted: “President Tinubu has continued to stress the critical need to increase our Country’s Oil and Gas production and has put in place several reform measures which require the steadfast implementation by all stakeholders to achieve the desired targets. We must continue to do what is needed to attract investments and ensure efficiency and vibrancy in oil and gas production activities in order to shore up our Country’s revenues.”

    Okumagba called on all stakeholders to support Eyesan as she embarks on the task of improving our Country’s trajectory in the diligent regulation of the Upstream Sector of our Petroleum Industry.

  • NMDPRA, NUPRC chiefs vow digital overhaul to plug oil sector revenue leakages

    NMDPRA, NUPRC chiefs vow digital overhaul to plug oil sector revenue leakages

    Chief executives-designate of downstream and midstream petroleum sectors regulatory agencies on Wednesday pledged a sweeping digital transformation of the petroleum industry.

    They promised to deploy technology, real-time data systems and stricter regulatory discipline to block revenue leakages and restore investor confidence in the sector.

    The nominees – Mrs Oritsemeyiwa Amanorisewo Eyesan for the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Engineer Saidu Aliyu Mohammed for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) – spoke during their screening by a joint sitting of the Senate Committees on Petroleum Resources (Upstream, Downstream and Gas) at the National Assembly.

    Both nominees said Nigeria’s continued dependence on manual processes, weak data integration and poor enforcement of contracts had left the petroleum sector vulnerable to inefficiencies, revenue losses and regulatory abuse, despite the enactment of the Petroleum Industry Act (PIA).

    Eyesan warned that without full digitisation and credible data, effective regulation would remain elusive.

    She said: “We are still largely manual, while the world is moving at jet speed.

    “Without digitisation and real-time data, you cannot truly understand what you are regulating, and you will continue to lose money.”

    She said modern petroleum regulation required transparent digital platforms capable of tracking assets, production, revenues and compliance in real time.

    She added that poor data integrity had historically undermined oversight in Nigeria’s upstream operations.

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    Eyesan stressed that her leadership would prioritise integrated digital systems, asset integrity monitoring and collaborative engagement with industry stakeholders to unblock long-standing operational bottlenecks.

    “We must collaborate with operators, policymakers and other regulators, identify our pain points and address them collectively.

    “That is how you move the needle forward,” she said.

    She described the Petroleum Industry Act as “a valuable document” that could reposition Nigeria as a competitive investment destination if implemented with discipline, transparency and technological support.

    She told senators that her experience as an operator gave her a practical understanding of both resource development and regulatory expectations.

    She recalled playing key roles in resolving disputes with international oil companies, stabilising investor confidence during divestment pressures and facilitating multi-billion-dollar deep offshore investments.

    She also cited her involvement in Nigeria’s first non-associated gas development contract and efforts that helped raise crude oil production from about 1.3 million barrels per day to nearly 1.8 million barrels per day.

    “Having worked directly in resource development, I understand the challenges operators face, and I believe I have the competence to regulate effectively while maximising national value,” she said.

    Mohammed said digital reforms would be complemented by strict enforcement of contracts and quality standards across the midstream and downstream segments.

    He said: “Gas is not a favour; it is a commodity. It must be sold on the basis of enforceable contracts from the producer to the transporter and the end-user.”

    He blamed persistent gas supply disruptions, especially in the power sector, on weak contractual frameworks and regulatory laxity. He argued that discipline and certainty were critical to attracting long-term investments.

    Mohammed said his administration would prioritise the enforcement of the Gas Network Code, revive pipeline transportation of petroleum products and deploy technology-driven monitoring systems to improve efficiency and transparency.

    He also pledged to strengthen quality assurance by developing in-house laboratory capacity at the NMDPRA, arguing that regulators could not enforce standards without the ability to independently test and certify products.

    “You cannot enforce quality if you do not have the capacity to test and certify products yourself,” he said.

    The nominee warned that neglecting domestic refining and processing capacity in favour of export-led strategies could damage the sector, drawing parallels with Nigeria’s defunct textile industry.

    The screening followed the resignation of the pioneer chief executives of the two agencies – Gbenga Komolafe of the NUPRC and Farouk Ahmed of the NMDPRA – appointed in 2021 after the PIA came into effect.

    Chairman of the Senate Committee on Petroleum Resources (Downstream), Senator Sumaila Kawu, said the digital reform pledges were coming at a critical time for Nigeria’s economy.

    He noted that improved energy governance was central to revenue growth and economic recovery.

    He said further engagements with the nominees would continue in January to deepen legislative-regulatory collaboration.

    The Senate is expected to consider the committee’s report after the screening, paving the way for confirmation of the nominees.

    IPMAN flags N190b bridging claims

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) urged the incoming NMDPRA leadership to urgently address outstanding bridging claims owed to its members, estimated at over N190 billion.

    IPMAN National President, Alhaji Abubakar Maigandi, said the debt had lingered for years and posed a major strain on independent marketers.

    “While congratulating the new heads of the oil and gas regulatory bodies, we wish to remind them of the long outstanding bridging claims owed to our members, totalling over N190 billion,” he said.

    Maigandi also welcomed IPMAN’s recent agreement with the Dangote Petroleum Refinery to supply Premium Motor Spirit (PMS) directly to its members.

    He expressed optimism that the arrangement would stabilise supply and reduce pump prices when full implementation begins in 2026.

  • Senate screens Tinubu’s mominees for NUPRC, NMDPRA

    Senate screens Tinubu’s mominees for NUPRC, NMDPRA

    President Bola Ahmed Tinubu’s push to reform Nigeria’s oil and gas governance gathered momentum on Thursday as the Senate began the screening of nominees for the leadership of the country’s key petroleum regulatory agencies.

    The nominees, Oritsemeyiwa Amanorisewo Eyesan for the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Saidu Mohammed for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), appeared before the joint Senate Committee on Petroleum Resources (Upstream, Downstream and Gas) at the National Assembly.

    During the screening, the nominees pledged to implement far-reaching reforms aimed at blocking revenue leakages, restoring regulatory discipline and attracting new investments into the sector.

    They outlined reform agendas focused on digitisation, strict enforcement of contracts, credible data management, improved investor confidence and accelerated gas development, in line with the provisions of the Petroleum Industry Act (PIA).

    Their nominations followed the resignation of the pioneer chief executives of the two agencies, Gbenga Komolafe of the NUPRC and Farouk Ahmed of the NMDPRA, who were appointed in 2021 after the PIA came into force.

    Eyesan, nominated to lead the upstream regulator, told senators that Nigeria was losing significant value due to manual regulatory processes and weak system integration in an industry that is increasingly driven by technology. 

    She stressed the need for modern, digital systems to enhance transparency, efficiency and accountability across the upstream sector.

    “We are still largely manual, while the world is moving at jet speed. Without digitisation and real-time data, you cannot truly understand what you are regulating, and you will continue to lose money,” she said.

    She stressed that effective regulation depends on accurate data, asset integrity monitoring and transparent systems, adding that collaboration among regulators, operators and policymakers was key to resolving bottlenecks in the sector.

    “We must collaborate with stakeholders, identify our pain points and address them collectively. That is how we move the needle forward,” Eyesan said.

    She assured lawmakers that she would fully deploy the PIA as a regulatory tool to reposition the upstream sector, attract investments and ensure Nigeria remains competitive amid the global energy transition, describing the law as “a valuable document” if properly implemented.

    Eyesan, an Economics graduate of the University of Benin, spent nearly 33 years at the Nigerian National Petroleum Company Limited (NNPCL) and its subsidiaries, retiring as Executive Vice President, Upstream. She cited her role in resolving long-standing disputes with international partners, restoring investor confidence during divestment threats and facilitating multi-billion-dollar deep offshore investments.

    She also recalled signing Nigeria’s first non-associated gas development contract and contributing to the increase in crude oil production from about 1.3 million barrels per day to 1.8 million barrels per day during her tenure.

    “Having worked as an operator and participated in resource development, I believe I have the competence to regulate the industry and ensure we maximise the enormous opportunities before us,” she told the committee.

    On his part, Mohammed, the NMDPRA nominee, emphasised the need to restore discipline across the gas and petroleum supply chain through strict enforcement of contracts and quality standards.

    “Gas is not a favour; it is a commodity. It must be sold on the basis of enforceable contracts from the producer to the transporter and the end-user,” he said, blaming weak contractual frameworks for persistent gas shortages, particularly in the power sector.

    He noted that steady gas supply to some power plants was only possible where contracts were clear and obligations enforced, adding that strengthening regulatory oversight and enforcing the Gas Network Code would help stabilise the system and restore investor confidence.

    Mohammed also warned against neglecting domestic refining and processing capacity, cautioning that the sector could suffer the fate of Nigeria’s collapsed textile industry if local needs were ignored in favour of exports.

    The nominee pledged to revive pipeline transportation of petroleum products, attract billions of dollars in investments into gas processing infrastructure and strengthen quality assurance through in-house laboratory facilities.

    “You cannot enforce quality if you do not have the capacity to test and certify products yourself,” he said.

    Born in Gombe in 1957, Mohammed is a chemical engineering graduate of Ahmadu Bello University, Zaria, with decades of experience across the oil and gas value chain. He has served as Managing Director of the Nigerian Gas Company and Kaduna Refining and Petrochemical Company, as well as Group Executive Director and Chief Operating Officer, Gas and Power, at NNPC.

    He also played key roles in major projects including the Escravos–Lagos Pipeline Expansion and the Ajaokuta–Kaduna–Kano Gas Pipeline.

    Chairman of the Senate Committee on Petroleum Resources (Downstream), Senator Sumaila Kawu, said the screening was taking place at a critical time for the country, noting that boosting energy production and efficiency was central to economic recovery.

    He added that further engagements with the nominees would continue into January to strengthen legislative–regulatory collaboration.

    The Senate is expected to consider the committee’s report after the screening, paving the way for the confirmation of the nominees and signalling a new phase in the regulation of Nigeria’s oil and gas industry under the Tinubu administration.

  • Permit to access flare gas to attract $2b investment

    Permit to access flare gas to attract $2b investment

    •NUPRC issues permits to 28 firms

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday, said the country is eyeing $2 billion investment from the permit to access gas; it has therefore issued permits to 28 companies.

    The Chief Executive Officer, Engr. Gbenga Komolafe made this known in his address at the ‘Permit to Access Gas Flare Issuance Ceremony’ in  Abuja.

    He also revealed that the programme is expected to generate over 100,000 direct and indirect jobs.

    His words: “The programme is expected to attract up to $2 billion in investment. More than 100,000 direct and indirect jobs are projected to be created.

    According to him, about 170,000 metric tons of LPG are estimated to be produced annually, enabling clean energy access for approximately 1.4 million households.”

    Komolafe said the programme would unlock gas sufficient to produce about 3,000 MW of electricity.

    He further disclosed that an NGFCP forum and College of awardees has been established to support project implementation and knowledge and change.

    He stressed that NUPRC has also deepened engagement with international financiers and technology partners, including the technology providers and financiers supporting the programme.

    NUPRC, he said, has completed extensive due diligence on the raw permit recipients.

    He said the Commission has validated both technical feasibility and financial capability, ensuring the commercial and operational soundness of all approved projects.

    He recalled that a total of 49 flare sites were auctioned, out of which 42 million have been awarded; the size between 250 and 300 million scuf of currently flare gas will be captured and commercialised, eliminating approximately 6 million tons of CO2 emissions annually.

    He recalled the NGFCP was relaunched in September 2022, with the objective to transform flare gas from a long-standing environmental liability into an economic asset capable of driving industrial growth, improving sectors’ environmental credentials.

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    According to him, the target was to end a decade-long challenge and replace it with a wealth-generating, climate-positive opportunity.

    He said by allocating flare size to competent third-party developers, NUPRC activated the commercially viable model, one of its kind globally, in which waste flare gas becomes value and environmental challenges give way to investment opportunities.

    Komolafe described it as the new Nigeria Energy Story, which is being written collaboratively with all stakeholders.

    He revealed that the programme is fully aligned with Nigeria’s Energy Transition Plan, which outlines national pathways towards a cleaner, more resilient energy system.

    Continuing, he said, the ” NGFCP is therefore not merely a policy initiative. It is a pillar in our quest to eliminate routine flaring, reduce emissions, and enhance Nigeria’s global credibility in energy transition commitments.”

  • NUPRC targets $2bn investment through flare gas access programme

    NUPRC targets $2bn investment through flare gas access programme

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the country is targeting $2 billion in investment through permits issued to 28 companies for access to flare gas.

    NUPRC Chief Executive Officer, Gbenga Komolafe, made the disclosure on Friday at the “Permit to Access Gas Flare Issuance Ceremony” in Abuja, noting that the program is expected to generate more than 100,000 direct and indirect jobs.

    “The program is expected to attract up to $2 billion in investment. More than 100,000 direct and indirect jobs are projected to be created,” Komolafe said.

    He added that the initiative could produce about 170,000 metric tons of LPG annually, providing clean energy to roughly 1.4 million households, and unlock enough gas to generate around 3,000 MW of electricity.

    Read Also: AEPA lauds NUPRC for transparent release of frontier exploration fund to NNPCL

    Komolafe explained that structures such as the NGFCP forum and the College of Awardees have been established to support project implementation, knowledge sharing, and change management. The Commission has also engaged international financiers and technology partners to back the program.

    He stated that NUPRC conducted extensive due diligence on all permit recipients, validating both technical feasibility and financial capability to ensure the commercial and operational soundness of approved projects.

    The CEO recalled that 49 flare sites were auctioned, with 42 million cubic feet awarded. The captured flare gas, estimated at 250–300 million standard cubic feet, will help eliminate approximately 6 million tons of CO2 emissions annually.

    Komolafe highlighted that the Nigerian Gas Flare Commercialization Programme (NGFCP), relaunched in September 2022, aims to transform flare gas from an environmental liability into an economic asset, driving industrial growth and enhancing environmental credentials.

    “By allocating flare gas to competent third-party developers, NUPRC activated a globally unique model where waste flare gas becomes valuable, turning environmental challenges into investment opportunities,” he said, describing it as part of the “new Nigeria Energy Story” written collaboratively with stakeholders.

    He further noted that the program aligns with Nigeria’s Energy Transition Plan, supporting the country’s move toward a cleaner, more resilient energy system.

    “NGFCP is therefore not merely a policy initiative. It is a pillar in our quest to eliminate routine flaring, reduce emissions, and enhance Nigeria’s global credibility in energy transition commitments,” Komolafe concluded.

  • AEPA lauds NUPRC for transparent release of frontier exploration fund to NNPCL

    AEPA lauds NUPRC for transparent release of frontier exploration fund to NNPCL

    • …hails Komolafe’s leadership in strengthening regulatory credibility

    The African Energy Policy Alliance (AEPA) has lauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its transparent handling and timely release of the Frontier Exploration Fund (FEF) to the Nigerian National Petroleum Company Limited (NNPCL), describing the action as “a model of regulatory–industry synergy for the rest of the continent.”

    In a statement issued on Thursday, Dr. Randy Amuche, Executive Director of AEPA, said the Commission’s confirmation of the approval and release of over $185 million and N14.9 billion to NNPCL reinforces NUPRC’s reputation under Gbenga Komolafe’s leadership as a regulator committed to accountability, professionalism, and transparent resource governance.

    AEPA further noted that the Commission’s prompt dismissal of claims that it withheld the fund reflects a maturing regulatory culture guided by evidence-based processes.

    “The NUPRC, led by Engr. Gbenga Komolafe has once again demonstrated exceptional regulatory discipline. By explaining that the Frontier Exploration Fund is domiciled with the Central Bank of Nigeria (CBN) and not with the Commission, and that disbursement follows rigorous evaluation of NNPCL’s work programmes, the NUPRC has set a continental benchmark for transparency,” the statement reads.

    Dr Amuche praised the Commission’s decision to contract PwC to independently evaluate NNPC’s claims before approving payments, saying it reflects a commitment to financial integrity and best-practice oversight.

    “From the initial release of N14.9 billion and $45 million, to the final tranche of $140 million approved on November 27, the NUPRC demonstrated procedural discipline that boosts investor confidence. Such diligence is precisely what Africa needs as countries seek to unlock frontier basins from Uganda to Namibia,” he said.

    AEPA also applauded the seamless coordination between the NUPRC and the NNPC, describing the relationship as a model of how regulators and national oil companies should collaborate to drive national and continental energy security.

    “What we are witnessing between the NUPRC and NNPC is a productive, functional relationship rooted in mutual respect for institutional mandates. The regulator demands evidence; the national oil company meets the requirements; and both work together toward expanding exploration in frontier basins,” Dr Amuche observed.

    He urged other African nations reforming their petroleum governance structures to study Nigeria’s approach, noting that credible, transparent regulatory practices remain central to improving global investor perception of Africa’s energy markets.

    “For Africa to compete and grow, we need institutions that are predictable, professional, and transparent. The NUPRC’s handling of the Frontier Exploration Fund is a strong demonstration of how regulatory integrity strengthens the entire energy ecosystem,” he said.

    AEPA also encouraged stakeholders to rely on verified information and avoid “unsubstantiated claims” that undermine trust in public institutions.

    The continental organisation reaffirmed its support for Nigeria’s ongoing efforts to strengthen exploration funding, deepen frontier basin development, and expand domestic reserves in line with global energy transition realities.

    “Nigeria is setting the pace. Properly supervised frontier exploration, as currently driven by the NUPRC under Engr. Gbenga Komolafe is essential not just for national growth but for Africa’s collective energy future,” he added.

  • BusinessMetrics rates NUPRC high on PIA implementation, transparency, investor confidence

    BusinessMetrics rates NUPRC high on PIA implementation, transparency, investor confidence

    Independent industry performance evaluator, BusinessMetrics, has said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is making sustained progress in implementing the Petroleum Industry Act (PIA), with reforms that are boosting investor confidence, enhancing transparency, and repositioning the upstream oil and gas sector for long-term growth.

    In a statement issued on Monday, BusinessMetrics noted that its latest sector review shows that regulatory actions taken by NUPRC in the past year “reflect a deliberate shift toward predictable, technology-driven and investment-friendly governance,” adding that the improvements are already strengthening Nigeria’s position in the global energy market.

    The group identified the Commission’s rapid digitisation of key oversight systems—covering production monitoring, metering accuracy, fiscal obligations, and environmental compliance—as one of its most notable achievements.

    According to the statement, the deployment of these digital tools has “reduced reporting delays, improved data integrity, and enhanced the global credibility of Nigeria’s upstream statistics.”

    “The availability of reliable, real-time data is one of the strongest indicators of a trustworthy investment climate,” the organisation said.

    “NUPRC’s digital reforms are raising confidence among operators and international financiers who rely on transparent information before committing capital to new field developments.”

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    The evaluator also noted improvements in licensing and regulatory approval processes, describing the Commission’s approach as more structured, rules-based, and commercially coherent compared to previous years.

    “Clearer timelines for approvals, structured consultations with operators, and the alignment of regulatory decisions with PIA provisions have created a more efficient operating environment,” the firm said.

     “This is enabling quicker movement on projects, reducing administrative bottlenecks and giving investors greater clarity on regulatory expectations.”

    The organisation said fiscal clarity under the PIA, implemented through NUPRC, has equally enhanced the attractiveness of Nigeria’s upstream assets, leading to renewed activity around marginal fields, reactivation of dormant licences, and fresh commitments from both indigenous and international operators.

    “The fiscal certainty introduced by the PIA continues to incentivise capital deployment. We are seeing a gradual resurgence in upstream investment appetite, driven by the clarity and predictability that investors have long demanded,” the statement added.

    On gas development and decarbonisation, BusinessMetrics commended NUPRC’s enforcement of domestic gas delivery obligations and its frameworks for flare-gas commercialisation, saying these efforts are opening new growth corridors for Nigeria’s energy transition.

    “The Commission’s work in gas monetisation is particularly impactful. It supports industrial expansion, contributes to power stability, and positions gas as a central pillar of Nigeria’s economic transformation,” the statement added.

    The evaluator further highlighted progress in customer-facing reforms, including the strengthening of the One-Stop Regulatory Centre, which it described as a crucial tool for reducing red tape and improving the ease of doing business in the upstream sector.

    “This approach aligns with global best practices and signals institutional willingness to reduce friction for investors,” BusinessMetrics noted.

    While acknowledging the complexity of Nigeria’s upstream environment, the organisation said the Commission’s consistent delivery on its mandate is helping restore confidence in the sector.

    “With sustained implementation of the PIA, Nigeria is better positioned to compete for global capital, increase production capacity and advance long-term energy security,” the organisation said.

    It concluded that NUPRC’s progress “sets a solid foundation for deeper reforms” and urged continued institutional discipline, innovation, and investor-focused regulation to fully unlock Nigeria’s upstream potential.

  • NUPRC: We have released $185m, N14.9b to NNPC

    NUPRC: We have released $185m, N14.9b to NNPC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed reports that it is withholding the Frontier Exploration Fund (FEF) from the Nigerian National Petroleum Company (NNPCL).

    The Head of Media and Strategic Communication, Eniola Akinkuotu, said $185,123,333 had been approved along with N14.9 billion.

    The NUPRC explained that the Frontier Exploration Fund was not domiciled in the Commission but in an account controlled by the Central Bank of Nigeria.

    The Commission added that its role was simply to evaluate the Work Programme submitted by NNPCL, after which approval would be given for the release of the fund.

    “We approve funds based on certified activities and contracts awarded. So, if a contract has not been awarded, we cannot approve payments,” the statement read.

    According to the statement, the NUPRC, in a bid to promote transparency, had contracted PwC to evaluate NNPCL’s claims before the final approval of the fund.

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    “So far, there is no outstanding sum. The NUPRC approved the final release on November 27, 2025, to the tune of $140,000,000. We have documents to back this up. Earlier, N14.9 billion and $45 million were released.

    “Anyone interested can also reach out to the NNPCL rather than rely on faceless individuals seeking to tarnish the image of the Commission,” the statement read.

    The Commission noted that the Frontier Fund was solely for the use of the NNPC, and it would be absurd for any operator to make spurious claims.

    The upstream regulator added that the Minister of State for Petroleum, Senator Heineken Lokpobiri, had earlier issued a statement denying investigating the NUPRC over the handling of the fund.

    “The honourable minister had issued a rebuttal on the so-called investigation on November 17, 2025. It amounts to mischief for anyone to reference a statement which has been denied by the purported author,” the Commission said.