The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said a new licensing round will open on December 1, promising that the process will be “more transparent and globally competitive” than the 2024 exercise.
The Commission described the round as a major step toward unlocking new exploration frontiers, boosting reserves and advancing Nigeria’s ambition to ramp up daily crude production by an additional one million barrels per day (mbpd).
Speaking at the closing session of a two-day strategic media workshop for energy correspondents in Lagos, the Commission Chief Executive, Gbenga Komolafe, said transparency remained central to the NUPRC’s mandate and operations.
Komolafe, represented by the Deputy Director of Human Resources, Corporate Services and Administration, Efemona Bassey, said the licensing round was designed to strengthen investor confidence and deepen the competitiveness of Nigeria’s upstream sector.
He told journalists that the progress recorded this year, including repeatedly exceeding 1.7 mbpd, demonstrates Nigeria’s capacity to outperform OPEC expectations, even at a time when global oil and gas investments are declining amid the shift to cleaner energy sources.
Komolafe said the steady climb in production, stronger rig count now nearing 70 with more than 40 active rigs and billions of dollars in the final investment decisions (FIDs) all reflect the impact of regulatory instruments introduced under the Petroleum Industry Act (PIA) 2021 and reinforced by President Bola Ahmed Tinubu’s executive orders.
He disclosed that in the last 10 months alone, the Commission approved field development plans valued at about $20 billion.
Reaffirming the Commission’s commitment to openness, he pointed to the convergence of responsibilities between the media and the regulator, noting that both are guided by mandates rooted in transparency and accountability.
He cited Section 22 of the 1999 Constitution, which empowers the media to hold the government to account and Section 7(m) of the PIA, which directs the NUPRC to publish reports and statistics on upstream operations.
He explained that the workshop was organised to give reporters deeper insight into the Commission’s operations and the realities of the upstream industry, with experts from exploration, development, production, acreage management, economic regulation and host community relations engaging participants in the two-day session.
While acknowledging the media’s influence in shaping investor sentiment, Komolafe urged journalists to maintain reportage that is factual, contextual and development-oriented.
He noted that Nigeria’s position as Africa’s leading crude producer depends not only on sound regulatory frameworks but also on the accuracy and depth of the narrative presented to the global investment community.
