The Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed Nigeria’s commitment to fostering innovation, sustainability, and investment in the oil and gas sector.
The CCE made this declaration at the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos.
Represented by the Executive Commissioner for Development and Production, Engr. Enorense Amadasu, the NUPRC Chief commended PETAN for organizing SAIPEC, emphasizing its crucial role in promoting regional collaboration, technological advancements, and knowledge exchange. He highlighted Nigeria’s transformative journey in oil and gas, underscoring strategic reforms, particularly the implementation of the Petroleum Industry Act (PIA) in 2021.
According to him, this landmark legislation has significantly enhanced governance, transparency, and efficiency, positioning Nigeria as a top destination for energy investments through robust field development programs, advanced oil recovery techniques, and resource optimization strategies all demonstrating commitments to innovation and global energy leadership.
On Nigeria’s dedication to sustainability, Engr. Komolafe emphasized the importance of initiatives such as the Nigeria Gas Flare Commercialization Program (NGFCP), which aims to eliminate gas flaring by 2030, and the country’s pledge to achieve net zero carbon emissions by 2060. These policies, alongside the NUPRC’s work in ensuring the seamless implementation of the PIA, create an enabling environment for investment.
He also noted that Nigeria boasts 37.5 billion barrels of oil reserves and 209.26 trillion cubic feet of natural gas, with vast renewable energy potential in solar, wind, and biomass.
While acknowledging the ongoing global energy transition, the CCE stated that although investments in renewable energy are increasing, fossil fuels will continue to play a crucial role in meeting global demand. He asserted that Africa must strategically leverage its energy resources to ensure a just and inclusive transition, balancing energy equity, economic development, and sustainability.
On challenges in the oil and gas industry, the Commission Chief Executive identified infrastructure deficits and financing constraints exacerbated by climate related policies as major obstacles in the region.
To address these issues, he stated that the NUPRC spearheaded the formation of the African Petroleum Regulatory Forum (AFRIPERF) in 2024. Since its inauguration at the NOG event in June 2024, AFRIPERF has established a structured governance framework comprising an Executive Committee, a Technical Committee, and a Secretariat housed at the NUPRC. The forum is dedicated to fostering regulatory collaboration, harmonizing standards, and advocating for Africa’s energy priorities on the global stage.
He highlighted AFRIPERF’s progress, noting that the creation of the AFRIPERF Charter in November 2024 laid a solid foundation for future initiatives.
The NUPRC Chief further called for unity and determination towards transforming Africa’s energy potential into a reality that fuels a brighter future for all, by leveraging on collective knowledge and resources to drive an energy revolution that would pave the way for prosperity.
