The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that the country’s active oil rigs have increased to 46, the highest in years. This was revealed by the NUPRC Chief Executive, Engr. Gbenga Komolafe, during a strategic workshop for media practitioners held in Abuja on Wednesday.
The increase from 44 oil rigs last week, and a significant jump from just eight rigs recorded prior to 2024, represents a marked improvement in Nigeria’s upstream petroleum performance. It also reflects growing investor confidence and the impact of recent reforms under President Bola Tinubu’s administration.
“I proudly confirm that as of today, based on my daily dashboard checks, Nigeria has 46 active rigs in operation,” said Komolafe. He attributed the development to the resilience and dedication of the NUPRC team in optimizing Nigeria’s hydrocarbon resources.
Komolafe recalled that when NUPRC began operations, Nigeria’s crude oil output had slumped to just over one million barrels per day due to theft, underinvestment, and regulatory challenges. In a bid to reverse this decline, the commission launched the “One Million Barrels Per Day” Production Recovery Initiative in August 2024.
The initiative has since contributed to a 300,000 barrels per day increase, raising Nigeria’s current daily production to around 1.7 million barrels. This gain represents a critical milestone in Nigeria’s effort to reclaim its leadership position among Africa’s top oil producers.
“We are seeing positive data across the board. Operators are sending in encouraging production reports. This is not just a technical achievement but a policy success as well,” Komolafe stated.
Industry stakeholders have attributed the turnaround to a blend of executive reforms, particularly Executive Orders 40, 41, and 42, which introduced key tax incentives, local content mandates, and streamlined contracting processes.
“These policy measures have directly contributed to recent Final Investment Decisions (FIDs) by major players, bringing in significant capital for exploration and development,” Komolafe noted. He praised President Tinubu for his consistent support and for providing a reform-minded environment for the sector to thrive.
The rig count surge is viewed as a vital sign of exploration and production (E&P) activity in the oil industry. An increase in active rigs generally translates to higher production potential, new discoveries, and ultimately, improved revenue for the government.
Industry watchers have also noted that Nigeria’s recent rig activity is a positive signal to international oil companies (IOCs) and local firms who had previously scaled back investment due to security risks and regulatory uncertainty.
As Nigeria’s upstream sector gains new momentum, the NUPRC plans to consolidate these gains with continuous monitoring, improved fiscal terms, and enhanced security in oil-producing regions.
The Commission is also collaborating with other government agencies and stakeholders to improve transparency, eliminate bottlenecks, and ensure that Nigeria remains competitive in the global oil and gas landscape.
Komolafe concluded by affirming that the NUPRC will remain steadfast in its commitment to not only sustaining the 46-rig count but pushing for even greater capacity as more projects come onstream.