Abuja:The Nigeria Upstream Regulatory Commission (NUPRC) marked its fifth anniversary, highlighting its achievements and future goals under the Petroleum Industry Act (PIA) of 2021. The commission emphasized its role in laying a strong institutional foundation to boost investment, production, and the national economy.
According to News Agency of Nigeria, the Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, stated that the PIA ended long-standing regulatory ambiguities and redefined the country’s upstream petroleum sector. She noted that NUPRC has established itself as an independent technical and commercial regulator with clarified institutional responsibilities.
In her address, Eyesan mentioned that the commission has gazetted 19 foundational regulations, enhancing certainty and stability for upstream operations. She credited President Bola Tinubu’s decisive policy architecture for the current resurgence in Nigeria’s oil and gas sector, which includes compressing contracting cycles and resolving long-standing issues such as the OPL 245.
Eyesan highlighted the commission’s progress in reducing approval times for reactivating shut-in wells and increasing investor confidence. She pointed out that Nigeria’s share of upstream capital sanctions in Africa rose from four percent in 2021 to 38 percent in 2025.
Since 2024, the NUPRC has approved 120 Field Development Plans (FDPs), amounting to over $47 billion in capital commitments. These approvals translate to potential royalties, jobs, local content development, energy security, and foreign exchange earnings for the country.
Eyesan outlined Nigeria’s goal to produce three million barrels of oil and 12 billion cubic feet of gas daily by 2030, emphasizing the need for collective commitment and innovation. She also stressed the importance of active monitoring and compliance performance of licensees under the ‘drill-or-drop’ framework.
The Nigerian Gas Flare Commercialisation Programme aims to turn flare molecules into productive economic value, supporting initiatives like electricity generation and industrial feedstock. Additionally, 173 Host Community Development Trusts have been incorporated, supporting over 1,168 community-led projects with significant financial commitments.
Eyesan concluded by stating that the commission aims to become smarter, digital, data-driven, and intelligence-led. The event also featured awards and recognition for regulatory leadership from 1979 to 2025.