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The Upstream Petroleum Regulatory Commission will oversee contracts to boost oil production above 2 million barrels per day and attract investment, supporting Nigeria's $1-trillion economic goal.
- NUPRC chief Gbenga Komolafe announced in London that the Upstream Petroleum Regulatory Commission will open the 2025 licensing round on December 1 under the Petroleum Industry Act.
- Following months of structural reform, the regulator assumed contract oversight from the Nigerian National Petroleum Company , acting as a `business enabler` linking investors, lenders and operators to help lift output by one million barrels per day, the commission says.
- Komolafe highlighted early recovery signs including an active rig count of more than 60 and crude output climbing to 1.71 million, peaking at 1.83 million barrels per day.
- President Bola Tinubu framed the licensing round as central to boosting output and courting investors, with Parliament leaders reassuring them the Petroleum Industry Act is here to stay.
- If successful, the licensing round could help restore production above 2 million barrels per day, but uncertainty remains over whether investor confidence will return after years of moving goalposts.
12 Articles
12 Articles
Nigeria: To Attract Fresh Investment in Oil Sector, Nuprc Announces 2025 Licensing Round
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday moved to attract additional investment in the oil and gas sector, with the announcement of the commencement of the 2025 licensing round from December 1, 2025.
NUPRC announces 2025 licensing round
“We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, to commence the 2025 licensing round beginning from 1 December 2025,” Mr Komolafe said. The post NUPRC announces 2025 licensing round appeared first on Premium Times Nigeria.
Nigeria Launches 2025 Oil Licensing Round as Regulator Takes the Reins
Nigeria will open its 2025 oil licensing round on December 1, as the Upstream Petroleum Regulatory Commission (NUPRC) steps deeper into the role once dominated by the state oil company. The move signals President Bola Tinubu’s intent to boost output, court investors, and drive the economy toward his $1-trillion target. Announcing the round in London, NUPRC chief Gbenga Komolafe said it marks a fresh phase under the Petroleum Industry Act (PIA). …
Nigeria launches 2025 Oil licensing round, seeks investment to boost production
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened its 2025 oil licensing round, set to begin on December 1, 2025. The announcement was made by NUPRC Chief Executive, Mr. Gbenga Komolafe, during the Project One Million Barrels Per Day (1MMBOPD) Additional Production Investment Forum held in London on Tuesday. The post Nigeria launches 2025 Oil licensing round, seeks investment to boost production appeared first on Na…
Lagos would’ve been world’s financial hub if Nigeria kept oil proceeds since 1960 - Akon
Akon, the Senegalese-American superstar, has envisioned a parallel reality where Nigeria, by retaining full control of its vast oil wealth, would have reshaped the global economic order and catapulted Lagos to unprecedented heights.Sharing an AI-curated video on Instagram, Akon posed a compelling “what if” scenario.The Grammy-nominated singer argued that if Nigeria had maintained 100% of its oil revenues since gaining independence in 1960 — inst…
Nigeria: NUPRC announces kick off of 2025 oil licensing round in December
WorldStage– The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, effective Dec. 1, 2025. The NUPRC Chief Executive (CCE), Mr Gbenga Komolafe, made the announcement at the NUPRC’s Project One Million Barrels Per Day (1MMBOPD) Additional Production Investment Forum in London on Tuesday. Komolafe, in a statement by its Head of Media and Strategic Communication, Eniola Akinkuotu s…
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