Gbenga Komolafe
NUPRC Targets 40% Share of Africa’s Oil, Gas Investments
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled an ambitious strategy to reclaim Nigeria’s dominance in Africa’s oil and gas investment landscape, setting its sights on securing 40% of the continent’s upstream investments over the next few years. This comes after Nigeria’s share of sub-Saharan Africa’s upstream inflows declined sharply from 44% in 2014 […]
Nigeria Must Maximise Oil Reserves for Economic Growth – CEGA
The Centre for Energy Governance and Accountability (CEGA) has called on the Federal Government to prioritize the strategic management of Nigeria’s vast oil reserves, warning that underutilization could spell long-term economic and security challenges for the nation. This call comes in the wake of the Federal Government’s recent approval of 37 new crude oil evacuation […]
FG Set to Revoke Dormant Oil Licences Under New Policy Framework
The Federal Government has unveiled a strict enforcement of its long-standing ‘drill or drop’ policy, which mandates oil producers to either commence production within a defined period or forfeit their operational licences. This strategic policy shift was confirmed by the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, during a […]
Hire Only Registered Engineers or Risk Sanctions – FG to Oil, Gas Companies
NCDMB Warns Oil Firms Against Hiring Unregistered Engineers, NUPRC Unveils Plan to Boost Local Capacity The Nigerian Content Development and Monitoring Board (NCDMB) has issued a strong warning to oil and gas companies against employing engineers who are not duly registered with the Council for the Regulation of Engineering in Nigeria (COREN). Speaking at the […]
Crude Oil Reserves Rise to 37.28 Billion Barrels – NUPRC
In a significant boost to Nigeria’s energy sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the nation’s crude oil and condensate reserves at a total of 37.28 billion barrels as of January 1, 2025. The announcement also revealed that Nigeria’s natural gas reserves have soared to a staggering 210.54 trillion cubic feet […]