Jubilation as Nigeria attracts global investors in popular European country

• The Federal Republic of Nigeria is gaining renewed planetary attraction arsenic a hotspot for lipid and state concern successful the world
• Nigerian Upstream Petroleum Regulatory Commission (NUPRC) attracted planetary investors successful the coil and assemblage to the country
• The NUPRC Commission Chief Executive (CCE) showcased the strategical reforms successful its upstream sector

Legit.ng writer Adekunle Dada has implicit 8 years of acquisition covering metro, authorities policy, and planetary issues

London, United Kingdom - The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has attracted planetary investors to the state during the 2025 Africa Energies Summit successful London, United Kingdom.

The NUPRC boss, Engr. Gbenga Komolafe, said strategical reforms successful its upstream assemblage are restoring capitalist assurance and driving accumulation maturation successful Africa’s largest energy market.

NUPRC brag Gbenga Komolafe showcases Nigeria's upstream reforms successful London. Photo credit: @NUPRCofficial
Source: Twitter

Komolafe said the reforms — rooted successful transparency, information access, and regulatory overhaul.

The NUPRC brag attributed the caller advancement to the argumentation situation created nether President Bola Ahmed Tinubu’s administration.

This was contained successful a connection issued and made disposable to legit.ng connected Friday, May 16, 2025.

According to Komolafe, Nigeria’s upstream assemblage translation is anchored connected 3 halfway pillars: transparent licensing rounds, prime subsurface data, and bold regulatory changes enabled by the Petroleum Industry Act (PIA).

“Each of these awards and rounds was conducted with unprecedented transparency, unmatched competitiveness, and singular capitalist engagement.“Collectively, they person repositioned Nigeria arsenic a premier destination for lipid and state investment, portion reaffirming our committedness to planetary standards of excellence, innovation, and partnership.”

Speaking further, helium told vigor leaders and investors that NUPRC’s propulsion to reconstruct Nigeria’s competitiveness is driven by entree to reliable geological information — an indispensable constituent for informed exploration and improvement decisions.

Komolafe disclosed that NUPRC has collaborated with planetary partners, with TGS-PetroData and different multi-client work providers,

He added that the committee has besides embarked connected 1 of the astir ambitious information acquisition projects connected the continent.

He said the National Data Repository (NDR), a cornerstone of Nigeria’s information strategy, has been pivotal successful improving capitalist owed diligence.

Komolafe said National Data Repository (NDR) is the bosom of the gyration and it houses 1 of the astir extended seismic databases connected the African content.

The NDR besides records from implicit 10,000 wells, enabling some carnal and distant entree for thorough method owed diligence,”

“This wealthiness of accessible, high-quality information has not lone empowered capitalist assurance during caller bid rounds but has firmly repositioned Nigeria arsenic 1 of the astir data-rich and investment-ready destinations successful the planetary vigor landscape.”

NUPRC's task is 1 cardinal barrels per time

Recall that the Extractive Industry Transparency Forum (EITF) showered praises connected the NUPRC.

The salient civilian nine watchdog successful Nigeria’s lipid and state operations said NUPRC's Project One Million Barrels Per Day is simply a imaginable lifeline for Nigeria’s crude accumulation and economical stability.

The President of EITF, Dr. Sani Yusuf Kura, said the task is simply a motion that the NUPRC nether the enactment of Gbenga Komolafe understands the urgency of the moment.

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Source: Legit.ng