• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

2024 Bid Round: 10 Oil Block Awardees Begin Production — NUPRC

…As NNPC says AKK pipeline project 72% completed

by Nse Anthony - Uko
5 months ago
in Business
NUPRC
Share on WhatsAppShare on FacebookShare on XTelegram

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that 10 of the oil block awardees from the 2024 bid round have commenced production activities.

Advertisement

This development marks a significant milestone in Nigeria’s efforts to boost oil production and revenue.

This is as the Nigerian National Petroleum Company Limited (NNPC) reported that the Ajaokuta-Kaduna-Kano (AKK) pipeline project is now 72 per cent completed. This critical infrastructure is crucial for Nigeria’s gas-focused economy and is expected to play a key role in enhancing energy supply once completed.

The NUPRC, chief executive officer, Gbenga Komolafe who made this known, said the Commission is driving several other initiatives but the one that is major and that is key to the Commission now is NUPRC’s Project 1 Million Barrels Incremental Initiative.

Speaking at the 2025 Oloibiri Lecture Series and Energy Forum (OLEF) organised by the Society of Petroleum Engineers (SPE) Nigeria, Komolafe expressed optimism that the initiative was realisable with the stakeholders’ cooperation.

RELATED

Flight Cancellation: NCAA Launches Complaints Automation Portal

NCAA Launches First SERVICOM Integrated Service Charter

7 hours ago
Equities Market Extends Rebound With N204bn Gain

Equities Market Extends Rebound With N204bn Gain

7 hours ago
ADVERTISEMENT

The NUPRC boss who represented by executive commissioner of development and production, Enorense Amadasu, said the Project 1 Million Barrels of Oil Initiative is an industry collaborative undertaking involving producers, service providers, financiers, and other key stakeholders for incremental 1 million barrels per day production by 2026.

On 2024 bid round and potential 2025 bid round, he said in pursuit of the goal to reach four million barrels of oil and 220 trillion cubic feet of gas, NUPRC has vigorously pursued strategies to enhance exploratory activities and accelerate development.

He added: “As part of these efforts, the Commission completed the 2024 bid licensing round with the award of 70 offshore petroleum prosperity licenses, and 70 additional onshore and offshore blocks.

ADVERTISEMENT

“We are also preparing for the 2025 bid round as we implement the drill or drop philosophy in line again with the PIA and follow FIT’s administration mechanism of the PIA.”

On Petroleum Processing License (PPL) awardee, he revealed that 10 of the awardees are now in production.

“I think about more than 10 of them are now in production. I think that’s a huge one for the country,” he said.

Also speaking, the group chief executive officer of NNPC Limited, Bashir Bayo Ojulari, disclosed that the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project has reached 72 per cent completion as of the end of the first quarter of 2025.

Ojulari emphasised that with substantial investments in energy infrastructure, NNPC is actively shaping Nigeria’s energy future.

This year’s conference has the theme “Driving Energy Sustainability Through Technology, Policy, and Supply Chain Excellence.”

Represented by the executive vice president, Upstream, Udobong Ntia, the GCEO noted that the conference theme speaks directly to the present and emerging realities of the Nigerian petroleum industry. He urged industry stakeholders to collectively rethink the current paradigms shaping the energy sector.

He observed that “in Africa, over 600 million people remain without access to electricity, a statistic that reflects both a development deficit and a glaring opportunity for energy inclusion. Here in Nigeria, oil and gas continue to represent over 85 per cent of export earnings and contribute significantly to government revenue. But beyond revenue, our hydrocarbon wealth must now become a bridge to a broader, more sustainable energy future”.

He added that “technology is no longer an enabler. It has now become a fulcrum. At NNPC Limited, we have embraced digital transformation not as a buzzword but as an operational imperative”.

He disclosed that “Nigeria’s passage of the Petroleum Industry Act, (PIA) 2021 remained a historic milestone, one that has repositioned NNPC Limited as a fully commercial entity empowered to compete and deliver value like never before. In alignment with Nigeria’s Energy Transition Plan, which seeks to achieve net-zero emissions by 2060, NMPC Limited has initiated several gas-led transition programs, including the expansion of our Autogas program, targeting over one million vehicles, through 2026. The completion of critical backbone infrastructure such as the AKK pipeline, which is over 72 per cent complete as we speak, first quarter 2025”.

On her part, the chairman, SPE Nigeria, Amina Danmadami, who spoke earlier, noted that while the global conversation may lean heavily toward renewables, we know that oil and gas will remain central to Nigeria’s economic stability, energy security, and industrial growth for decades to come.

She stated that “since 1991, OLEF has stood as a symbol of dialogue, innovation, and policy engagement in Nigeria’s oil and gas landscape. It commemorates the first commercial discovery of oil in Nigeria in Oloibiri, Bayelsa State—an event that forever changed the trajectory of our nation’s economic history. OLEF continues to serve as a convergence point for stakeholders across government, industry, and academia to reflect, project, and act”.

Speaking virtually, Danmadami recalled that since 1991, OLEF has stood as a symbol of dialogue, innovation, and policy engagement in Nigeria’s oil and gas landscape.

She said it commemorates the first commercial discovery of oil in Nigeria in Oloibiri, Bayelsa State—an event that forever changed the trajectory of the nation’s economic history.

OLEF, she said, continues to serve as a convergence point for stakeholders across government, industry, and academia to reflect, project, and act.

The chairman said while this year’s global conversation may lean heavily toward renewables, “we know that oil and gas will remain central to Nigeria’s economic stability, energy security, and industrial growth for decades to come.

“The path to sustainability in our context is not one of displacement, but one of optimisation—leveraging technology to drive efficiency, tightening our supply chains, and creating enabling policies to enhance sector resilience.”

Also speaking at the event, the executive secretary, Petroleum Technology Development Fund, PTDF, Ahmed Aminu commended SPE Nigeria for sustaining the OLEF.

Represented by Ifeoma Nwokike, general manager, Projects Department, Aminu said: “Since 2015, PTDF has remained a consistent supporter of the OLEF, recognising its strategic value as a platform for policy dialogue, stakeholder engagement, and forward-thinking discourse on energy development in Nigeria and Sub-Saharan Africa.

“The annual lecture series, commemorating the historic 1956 oil discovery at Oloibiri, represents more than a celebration of our petroleum legacy—it reflects our collective aspirations for sustainable energy growth through innovation, strategic partnerships, and capacity building.”

Speaking, the former Minister of Petroleum, Don Etiebet warned against issuing licenses for petroleum production to people or companies without capacity to drill the rigs.

He advised that succession into the indigenous firms’ leadership should not be a family affair.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
SendShare10181Tweet6363Share
ADVERTISEMENT
Previous Post

NACAUS To Take Off With 4 Campuses

Next Post

Rivers Emergency Rule: Group Seeks Expedite Action On PDP Govs’ Petition

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

Flight Cancellation: NCAA Launches Complaints Automation Portal
Business

NCAA Launches First SERVICOM Integrated Service Charter

2025/08/27
Equities Market Extends Rebound With N204bn Gain
Business

Equities Market Extends Rebound With N204bn Gain

2025/08/27
State Of Emergency In Rivers: Way Forward
Business

Tinubu Bans Raw Shea Export For Six Months, Eyes $300m Revenue Boost

2025/08/27
Nigeria’s Poor Electricity, Weak Infrastructure Hinder Growth But Present Investment Opportunities – Awele Elumelu
Business

Nigeria’s Poor Electricity, Weak Infrastructure Hinder Growth But Present Investment Opportunities – Awele Elumelu

2025/08/27
Renaissance Energy Africa Reaffirms Commitment To Safety Operations
Business

Renaissance Energy Africa Reaffirms Commitment To Safety Operations

2025/08/27
Dangote Cement Records Impressive Topline Growth, Sustains Profitability
Business

Dangote Cement Urges Multi-sector Collaboration To Combat Youth Unemployment

2025/08/27
Leadership Conference advertisement

LATEST

Okigwe Killings Represent Governance Failure – Ihedioha

Nigeria’ll Rise On Tech, Food Security — Tinubu

Oyo APC Tasks INEC On Hitch-free Voter Registration Exercise

Security Agents Arrest 2 Suspected Vandals In Akwa Ibom

NECO Denounces Fake Recruitment Notice

Crystal Palace Approach Man City For Akanji

Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others

Crystal Palace Agree £26m Deal For Villarreal Winger Pino

Bauchi Records 70% 2025 Budget Performance

Edo At 34: Okpebholo Celebrates Founding Fathers, Sue For Unity

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.