NUPRC Praised for Transparent Use of Frontier Exploration Fund, Groups Set Record Straight
The Oil and Gas Watchdogs Network has thrown its weight behind the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), applauding what it calls the transparent and responsible deployment of the Frontier Exploration Fund.
The group said the Commission, led by Chief Executive Gbenga Komolafe, has shown discipline and clarity in using the Fund strictly for the purposes defined in the Petroleum Industry Act.
Source: Facebook
Addressing public concerns
In a statement released in Port Harcourt, the coalition said recent public discussions around the Fund created a need to clarify how it is being managed.
According to the group, the NUPRC’s actions reflect a strong commitment to accountability, and its leadership has ensured that spending remains aligned with statutory goals.
Strategic use of frontier fund
The Network highlighted ongoing exploration work across various frontier basins as evidence of proper deployment.
These activities include seismic data gathering, exploratory drilling, and geological studies designed to expand Nigeria’s reserves and support long-term energy security.
According to the statement signed by Comrade Boma Kenule, every allocation from the Fund has been channelled toward derisking new terrains and supporting early-stage exploration.
The group said this is the kind of regulatory discipline the sector needs, especially at a time when global investment in fossil fuel exploration is shrinking.
Industry validation and renewed credibility
The coalition said its assessment is based on reports from field operators and consultations with technical experts who have pointed to the NUPRC’s methodical approach.
It added that Komolafe’s leadership has restored credibility to the frontier exploration framework by enforcing performance benchmarks and maintaining steady engagement with host communities and state governments involved in exploration projects.
This approach, according to the group, has helped rebuild investor confidence in exploration activities at a time when expanding reserves is vital for sustaining Nigeria’s production capacity over the next decade.
A Timely boost for investor confidence
The Network stressed that frontier basin work requires huge capital commitments and technical precision. It said the Commission’s careful handling of the Fund has ensured that investors’ money is directed to priority projects.
This, it noted, is why many stakeholders continue to trust the NUPRC to deliver on its regulatory mandate.
Call for continued support and accurate reporting
The coalition urged the Federal Government to strengthen the Commission’s capacity and independence, noting that effective regulation is key to avoiding mismanagement and maintaining transparency across the industry.
It also appealed to the media and political commentators to avoid mischaracterising official statements, warning that misleading narratives could undermine the progress made so far.
Commitment to accountability
The Oil and Gas Watchdogs Network reaffirmed its commitment to monitoring regulatory compliance across the oil and gas sector.
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It said it will continue spotlighting institutions that uphold transparency, protect public resources, and contribute to Nigeria’s long-term energy security.
NUPRC’s 2025 oil licensing round ignites global investor confidence
Legit.ng earlier reported that 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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Source: Legit.ng
