The Energy Governance Alliance (EGA) has applauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its decision to open the 2025 oil licensing round on December 1.
The group described the move as a “bold statement of confidence” in the country’s upstream sector and a clear signal that Nigeria is serious about restoring its competitiveness in the global oil market.
In a statement issued on Wednesday by its Executive Director, Dr. Kelvin Sotonye William, the alliance said the move represents one of the most significant policy milestones since the enactment of the Petroleum Industry Act (PIA), noting that it demonstrates President Bola Tinubu’s commitment to attracting investment and repositioning the oil and gas sector for long-term growth.
“The NUPRC has taken a decisive step that goes beyond opening new oil blocks; it is opening a new chapter of credibility and investor confidence in Nigeria’s petroleum industry. By anchoring this licensing round on transparency, data integrity, and predictable regulation, the Commission is sending a message to the world that Nigeria’s upstream business is once again open for fair, accountable, and profitable investment,” Dr William said.
The group praised Engr. Gbenga Komolafe, Chief Executive of the NUPRC, for his reform-driven leadership, which he said has “restored discipline and clarity” to an industry long plagued by institutional overlap and operational inefficiency.
“Under Engr. Komolafe’s leadership, the NUPRC has become the symbol of what the PIA envisioned — a modern, independent regulator that acts as a business enabler rather than a bureaucratic bottleneck. This licensing round reflects that vision in action. It is data-driven, investor-oriented, and fully aligned with the national ambition of expanding production by one million barrels per day,” the statement reads.
According to the EGA, the decision to unveil the licensing round in London before a global audience of oil executives, financiers, and investors was both “strategic and symbolic,” positioning Nigeria as a credible investment hub in an era of energy transition.
“The choice of London reflect Nigeria’s readiness to compete globally for investment capital. By meeting investors where they are and presenting a transparent investment case backed by reform, the NUPRC is rebuilding the trust that was lost over decades of opacity and policy inconsistency,” the statement added.
Dr. William also highlighted the Commission’s record of measurable progress, citing the approval of 46 field development plans in 2025, an active rig count exceeding 60, and crude oil production rising to 1.83 million barrels per day.
“These are not abstract figures — they are proof that Nigeria’s upstream recovery is real and that the reforms are working. When regulatory clarity meets investor confidence, capital follows. That is exactly what is happening under the NUPRC’s stewardship,” EGA said.
He urged the federal government to continue supporting the Commission’s reform agenda through consistent policy implementation, capacity building, and sustained stakeholder engagement.
“With this licensing round, Nigeria has a chance to demonstrate that transparency and profitability are not mutually exclusive. If the current momentum is maintained, the country cannot only regain production above two million barrels per day but also achieve the broader economic vision of a $1 trillion GDP,” Dr Williams added.
