Nigeria Attracts Global Investors as NUPRC Boss Showcases Upstream Reforms in London
- The Federal Republic of Nigeria is gaining renewed global attention as a hotspot for oil and gas investment in the world
- Nigerian Upstream Petroleum Regulatory Commission (NUPRC) attracted global investors in the coil and sector to the country
- The NUPRC Commission Chief Executive (CCE) showcased the strategic reforms in its upstream sector
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
London, United Kingdom - The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has attracted global investors to the country during the 2025 Africa Energies Summit in London, United Kingdom.
The NUPRC boss, Engr. Gbenga Komolafe, said strategic reforms in its upstream sector are restoring investor confidence and driving production growth in Africa’s largest energy market.
Source: Twitter
Komolafe said the reforms — rooted in transparency, data access, and regulatory overhaul.
The NUPRC boss attributed the recent progress to the policy environment created under President Bola Ahmed Tinubu’s administration.
This was contained in a statement issued and made available to legit.ng on Friday, May 16, 2025.
According to Komolafe, Nigeria’s upstream sector transformation is anchored on three core pillars: transparent licensing rounds, quality subsurface data, and bold regulatory changes enabled by the Petroleum Industry Act (PIA).
“Each of these awards and rounds was conducted with unprecedented transparency, unmatched competitiveness, and remarkable investor engagement.
“Collectively, they have repositioned Nigeria as a prime destination for oil and gas investment, while reaffirming our commitment to global standards of excellence, innovation, and partnership.”
Speaking further, he told energy leaders and investors that NUPRC’s push to restore Nigeria’s competitiveness is driven by access to reliable geological data — an essential element for informed exploration and development decisions.
Komolafe disclosed that NUPRC has collaborated with global partners, with TGS-PetroData and other multi-client service providers,
He added that the commission has also embarked on one of the most ambitious data acquisition projects on the continent.
He said the National Data Repository (NDR), a cornerstone of Nigeria’s data strategy, has been pivotal in improving investor due diligence.
Komolafe said National Data Repository (NDR) is the heart of the revolution and it houses one of the most extensive seismic databases on the African content.
The NDR also records from over 10,000 wells, enabling both physical and remote access for thorough technical due diligence,”
“This wealth of accessible, high-quality data has not only empowered investor confidence during recent bid rounds but has firmly repositioned Nigeria as one of the most data-rich and investment-ready destinations in the global energy landscape.”
NUPRC's project is one million barrels per day
Recall that the Extractive Industry Transparency Forum (EITF) showered praises on the NUPRC.
The prominent civil society watchdog in Nigeria’s oil and gas operations said NUPRC's Project One Million Barrels Per Day is a potential lifeline for Nigeria’s crude production and economic stability.
The President of EITF, Dr. Sani Yusuf Kura, said the project is a sign that the NUPRC under the leadership of Gbenga Komolafe understands the urgency of the moment.
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Source: Legit.ng
