Engr. Gbenga Komolafe leads the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). He states that Nigeria is actively redefining its oil and gas sector. Bold reforms are underway. These reforms aim to boost transparency and competitiveness. They also target long-term sustainability.

Komolafe spoke at the Global Sustainable Education and Leadership Conference 2025. This event was held in London. He highlighted Nigeria’s significant recent strides. The NUPRC’s role is crucial, he emphasized. “We are not only regulating production,” Komolafe declared. “We are shaping Africa’s energy future.” He added that Nigeria will remain a reliable supplier. It will also be a fair regulator and a responsible global partner.

The NUPRC boss noted a sharp increase in Nigeria’s rig count. It surged from eight in 2021 to 69 by October 2025. This marks over 760 percent growth. “This growth reflects investor confidence,” Komolafe explained. He cited trust in Nigeria’s regulatory framework. Market stability also plays a key role.

Revenue collection also surpassed expectations. Surpluses reached 18.3 percent in 2022. They stood at 14.6 percent in 2023. An exceptional 84.2 percent surplus was recorded in 2024. Komolafe stated, “Our focus is to maximize the value of Nigeria’s hydrocarbon resources.” This must align with global sustainability standards.

Komolafe stressed the importance of local participation. This factor drives growth in the sector. Indigenous operators now produce over 30 percent of national oil. Host Community Development Trusts are also in place. They ensure direct benefits for communities. This applies to all oil and gas activities.

“We are building a transparent and accountable system,” Komolafe affirmed. He added it is also investment-friendly. This system reflects Nigeria’s national values. It also aligns with global aspirations. These reforms position Nigeria as a credible global energy player. The country is now more competitive and responsible.

Komolafe received the Global Sustainable Leadership Award. This recognized his outstanding efforts. The ceremony occurred at the House of Lords in London. He dedicated the award to the Nigerian people. It celebrates “the courage and faith that drive our reforms.” These reforms are in the upstream oil and gas sector.