Minister Lauds Upstream Regulator’s Progress In 4 Years

The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has spotlighted significant advancements by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as the Commission marks four years of operations.

Senator Heineken said this when the commission’s chief executive, Engr. Gbenga Komolafe led a top management delegation to the minister’s office on the sidelines of the NUPRC’s anniversary on October 21, 2025.

Lokpobiri emphasised the agency’s vital role in driving growth and stability in Nigeria’s upstream oil and gas sector and called for sustained focus and collaboration to build on the progress.

Lokpobiri stated, “The NUPRC is just four years old, yet it has exhibited the qualities of an institution with decades of experience. The progress made is remarkable and shows the dedication of Engr. Komolafe and his team.”

He added, “Our rig count has soared from 8 in 2021 to 69 today. This clearly indicates that investor confidence is returning, and the upstream sector is waking up.” The minister credited the Petroleum Industry Act (PIA), 2021, for providing the regulatory framework that has enabled this turnaround. “The PIA has brought stability to the oil sector; it has created a predictable environment for investors, and the NUPRC has consistently been at the forefront of enforcing these regulations.”

Highlighting NUPRC’s transparency initiatives, Lokpobiri praised the digitisation of licensing and open bidding processes. “We have eliminated many of the shadows that used to cloud the licensing rounds,” the minister said.

“With NEITI’s endorsement and African countries looking up to the NUPRC as a model, Nigeria is setting standards in upstream regulation.” He also noted, “The creation of the African Petroleum Regulatory Forum under NUPRC’s coordination is a proud milestone, aiming to unify Africa’s voice on energy and promote fair investment across the continent.”

The minister drew attention to Nigeria’s increasing production capacity, affirming, “When I took office, our production hovered around one million barrels per day. Today, we produce between 1.7 and 1.8 million barrels. This is progress, but we must not become complacent.”

He underscored the importance of reducing production costs, stating, “President Bola Tinubu’s executive orders have helped bring down costs, making Nigeria more competitive globally.”

He remarked on the role of local operators, “Our indigenous producers are proving that they can deliver. Renaissance has added over 60,000 barrels per day since acquiring Shell’s assets, and Seplat has increased production by 40,000 barrels after acquiring ExxonMobil’s portfolio. This shows the strength and capacity of our local companies.”

On community relations, Minister Lokpobiri added, “The management of the Host Community Trust Fund by NUPRC has helped restore peace in the Niger Delta, which is essential for uninterrupted production and regional development.”

Lokpobiri called on the commission to maintain momentum: “We have made significant strides, but this is a journey. It requires continued focus, collaboration, and a commitment to transparency and growth. Together, we will continue to unlock Nigeria’s vast upstream potential for the benefit of our economy and people.

Commission boss, Engr. Komolafe, in his submission, described the anniversary as a special moment in the history of the Commission and added that the achievements recorded are a product of the support of President Bola Tinubu, as well as support from the Minister of State for Oil.The NUPRC boss thanked the minister for his leadership and support in the regulatory activities of the Commission.

He reiterated that as part of its mandate, the Commission has functioned as a business enabler and opportunity marketer in the upstream sector.”Honourable Minister, we have done this diligently in collaboration with my team. We have been able to record a number of high-impact achievements; restore investors’ confidence and stabilise the industry regulatory-wise.

“We have been able to reintroduce ‘certainty and predictability’ into regulatory activities in the industry. We have been able to develop and gazette 24 forward-looking regulations which are the tools by which we regulate the industry in a very predictable direction that for now has earned us investors’ confidence, unlike where we took up from,” said Engr. Komolafe.

The CCE shared other scorecards of the NUPRC following the passage of the PIA, 2021.He noted that the Commission had delivered 19 world-class regulations that had given life to the PIA.