The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has restated the Commission’s commitment to fostering an enabling business environment, advancing regulatory reforms, and strengthening investor confidence in Nigeria’s oil and gas sector.
This was disclosed in a statement signed by the Commission’s spokesperson on Friday.
According to the statement, Komolafe made the remarks while receiving a delegation from the Independent Petroleum Producers Group (IPPG) at the Commission’s headquarters in Abuja. The delegation was led by IPPG Chairman, Mr Abdulrazaq Isa, who also chairs Waltersmith Group, an indigenous oil and gas firm.
The visit was described as a strategic engagement aimed at deepening collaboration between the Commission and indigenous producers. It also offered the IPPG an opportunity to express its appreciation to the NUPRC for its pivotal role in facilitating recent asset divestments by international oil companies.
The statement read in part: “During the meeting, the IPPG reaffirmed its commitment to supporting the Commission’s ‘Project One Million Barrels Incremental’ initiative an ambitious programme aimed at increasing Nigeria’s daily crude oil output. The group emphasised its alignment with this national objective and underscored its dual focus on both oil and gas development.”
In his address, Komolafe welcomed the IPPG delegation and reiterated the Commission’s drive to create a more business-friendly regulatory landscape. He highlighted key policy initiatives introduced since the enactment of the Petroleum Industry Act (PIA), including the automation of regulatory procedures such as licensing and permitting. These, he noted, have significantly reduced bureaucratic bottlenecks and improved operational efficiency across the sector.
He also referenced the implementation of the “drill or drop” policy, which obliges operators to commence production within a specified period or risk losing their licences. The policy is aimed at reinvigorating the sector, maximising the use of oil assets, and boosting government revenue.
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According to Komolafe, the Commission’s reform agenda is already yielding tangible outcomes. He cited a notable increase in rig activity rising from 11 rigs before the PIA to 42 rigs currently in operation as evidence of growing investor confidence and a rejuvenated upstream sector.
He further emphasised the Commission’s ongoing commitment to promoting transparency, accountability, and anti-corruption measures within the industry. Komolafe encouraged continued dialogue and constructive feedback from stakeholders, stressing that such engagement is essential for refining regulatory frameworks and ensuring they remain responsive to industry developments.
In its response, the IPPG commended the Commission’s reforms, acknowledging their positive impact and the renewed investor confidence they have inspired in both local and international markets.
