The Energy Governance Alliance (EGA) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for launching the 2025 oil licensing round on December 1. This strategic move signals renewed commitment to revitalizing Nigeria’s petroleum sector.
EGA Executive Director Dr. Kelvin Sotonye William hailed the decision as transformative. He noted it restores investor confidence through transparent processes and predictable regulations.
“This licensing round opens a new chapter of credibility,” stated Dr. William. “By prioritizing data integrity and accountability, Nigeria’s upstream sector becomes attractive for profitable investments.”
Reform-Driven Leadership
Dr. William praised NUPRC Chief Executive Engr. Gbenga Komolafe’s reform-focused approach. The leadership has transformed NUPRC into an efficient business enabler under the Petroleum Industry Act (PIA).
The licensing round aligns with national goals. It aims to boost production by one million barrels daily through data-driven policies.
Strategic Global Positioning
Hosting the launch in London showcases Nigeria’s readiness for global investment. EGA called this move both strategic and symbolic amid intense energy funding competition.
“Meeting investors directly demonstrates Nigeria’s reformed approach,” the statement noted. This rebuilds trust after past policy inconsistencies.
Tangible Sector Progress
Under NUPRC supervision, Nigeria achieved significant milestones:
- Approval of 46 field development plans
- Over 60 active drilling rigs
- Crude production rising to 1.83 million barrels daily
Dr. William emphasized these results prove reforms work. Regulatory clarity attracts capital effectively.
He urged continued government support for NUPRC’s initiatives. Sustained momentum could push production beyond two million barrels daily.
“Transparency and profitability can coexist,” William concluded. This progress advances Nigeria’s $1 trillion GDP vision.
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