Komolafe Commended Over NUPRC’s $10bn Licensing Round Portal

A UK-based energy watchdog, the Global Energy Transparency Initiative (GETI), has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its Chief Executive, Engr. Gbenga Komolafe, for introducing world-class transparency, investor-friendly practices, and international standards in the launch of the 2025 Licensing Round Portal.

In a statement on Tuesday signed by its Executive Director, Dr. Jonathan Whitfield, GETI described the unveiling of the licensing round, which features 50 oil and gas blocks across onshore, swamp/shallow water, frontier basins, and deepwater terrain, as a “landmark step towards aligning Nigeria’s upstream governance with global best practices”.

The statement follows Monday’s announcement that the NUPRC portal, br2025.nuprc.gov.ng, is now live, with the Commission projecting $10 billion in fresh investments and the addition of two billion barrels to Nigeria’s reserves over the next decade.

GETI praised the full digitisation of the licensing process, noting that public disclosure of bidding procedures and the granular breakdown of available blocks — 15 onshore, 19 shallow water, 15 frontier, and one deepwater — represents “the most ambitious transparency measures by any African upstream regulator in recent memory”.

“Under Engr. Komolafe’s leadership, Nigeria has demonstrated that regulatory openness, clarity, and accountability are not optional but essential to attracting credible investors,” Dr. Whitfield said.

“From prequalification and bid submission to evaluation and award, every stage is now transparent, reducing discretion and the opacity that has historically undermined confidence in the sector.”

GETI also highlighted the licensing round’s projected production potential of 400,000 barrels per day and the emphasis on gas utilisation and job creation, describing it as a “holistic approach to energy governance that balances revenue, competitiveness, and social impact”.

“The 2025 Licensing Round is a template for Africa. It demonstrates that transparency and fairness in upstream licensing are key drivers of investment, trust, and long-term sectoral stability,” he added.

The UK-based think tank urged NUPRC to maintain consistent implementation of the licensing process, including publication of contracts, fiscal terms, and beneficial ownership information, to ensure that transparency extends beyond the bidding stage.

“The message is clear: strong governance is a competitive advantage. Nigeria is showing that with the right leadership, regulatory credibility can coexist with rapid investment growth,” the statement added.

GETI’s endorsement positions NUPRC’s 2025 Licensing Round as a benchmark for the African upstream sector, underscoring the importance of investor confidence, digitalisation, and international alignment in modern oil and gas regulation.