Nigeria’s Big Comeback: NUPRC’s 2025 Oil Licensing Round Ignites Global Investor Confidence
The Energy Governance Alliance (EGA) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for announcing the opening of the 2025 oil licensing round, describing it as a turning point in the nation’s energy sector.
The exercise, which begins on December 1, has been hailed as a bold declaration that Nigeria is ready to reclaim its place in the global oil market.
In a statement signed by its Executive Director, Dr. Kelvin Sotonye William, the EGA said the move underscores President Bola Tinubu’s commitment to reforming the oil industry, deepening transparency, and attracting sustainable investment to the upstream sector.
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“A New chapter of credibility”
Dr. William noted that the decision to open the new licensing round marks one of the most significant policy milestones since the Petroleum Industry Act (PIA) was enacted. He described the NUPRC’s action as a “new chapter of credibility and investor confidence” in Nigeria’s petroleum sector.
“The NUPRC has taken a decisive step that goes beyond opening new oil blocks; it is rebuilding confidence in a sector once clouded by uncertainty. By anchoring this process on transparency, data integrity, and predictable regulation, Nigeria is signaling to the world that it means business,” he said.
Komolafe’s leadership praised for restoring discipline
The alliance praised the NUPRC Chief Executive, Engr. Gbenga Komolafe, for his results-driven leadership and commitment to reform. According to the EGA, his tenure has restored order and professionalism to an industry long criticized for inefficiency and overlapping regulatory functions.
“Under Engr. Komolafe’s leadership, the NUPRC has evolved into the modern, independent regulator the PIA envisioned—one that enables business rather than obstructs it.
This licensing round is a direct reflection of that transformation. It is data-driven, investor-oriented, and in line with Nigeria’s goal of boosting production by one million barrels per day,” the group stated.
Strategic global launch in London
EGA described the decision to unveil the licensing round in London before an international audience as both “strategic and symbolic.” The move, it said, positions Nigeria as a credible and competitive player in a fast-changing energy landscape.
“The choice of London reflects a smart understanding of investor psychology. By meeting investors where they are and offering a transparent, reform-backed opportunity, the NUPRC is rebuilding global trust in Nigeria’s energy market,” Dr. William explained.
Measurable progress and a vision for growth
The alliance also highlighted the Commission’s tangible achievements—approval of 46 field development plans, a rig count surpassing 60, and daily oil production now at 1.83 million barrels. These, it said, are “clear proof that the reforms are working.”
“When regulatory clarity meets investor confidence, capital follows,” Dr. William said. “Nigeria’s upstream recovery is real, and the numbers show it.”
Towards a trillion-dollar economy
EGA urged the federal government to continue backing NUPRC’s reform agenda through consistent policies, capacity building, and active stakeholder engagement.
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“With this licensing round, Nigeria has a unique chance to prove that transparency and profitability can coexist. If the current momentum continues, the country could not only surpass two million barrels per day in production but also move closer to the vision of a $1 trillion economy,” Dr. William added.
Diaspora Hails NUPRC Boss Gbenga Komolafe
Legit.ng earlier reported that the Nigerians in Diaspora Assembly (NiDA) in London has lauded the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engineer Gbenga Komolafe, following his recent double honours.
He was awarded a professional doctorate in Leadership (Energy Law) from the International Business School of Scandinavia, and the Global Sustainable Leadership Award at the 2025 Global Sustainable Education and Leadership (G-SEL) Conference held at the House of Lords, UK Parliament.
In a congratulatory statement issued on Saturday, NiDA London President, Dr. Sani Abubakar, and Secretary, Chioma Okorafor, described Komolafe’s recognition as a proud moment for Nigeria and an example of leadership excellence that inspires confidence in the nation’s global image.
Source: Legit.ng
