NUPRC readies new licensing round

Nigeria’s upstream petroleum regulator has pledged expanded transparency measures ahead of an acreage licensing round scheduled to begin next month, with officials describing media engagement as essential to attracting international investment. Commission Chief Executive Gbenga Komolafe told journalists at a Lagos workshop that regulatory clarity under the Petroleum Industry Act and presidential executive orders have helped push national crude production beyond 1.7 million barrels daily during 2025 while securing field development approvals worth approximately $20 billion within ten months.

The regulator emphasized that perception management matters for capital allocation decisions in a sector facing declining global investment due to energy transition pressures. Komolafe urged reporters to prioritize factual coverage supporting development objectives as Africa’s largest producer competes for financing. The commission publishes operational data through its website, social platforms and quarterly magazine to support accurate industry reporting.

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