NUPRC hails PIA in transforming Nigerian upstream

The Nigerian Upstream Petroleum Regulatory Commission was present at the 24th Nigerian Oil & Gas Energy Week in Abuja, highlighting the significance of the Petroleum Industry Act (PIA) in achieving investor transparency in the country's upstream sector

While delivering a presentation at NOG 2025, the Commission's chief executive, Gbenga Komolafe, explained how the PIA helped introduce strategic reforms, bring regulatory clarity and make investment inflows effective in the Nigerian industry.

The PIA, now implemented alongside President Bola Tinubu’s 2024 Executive Orders, ensures fiscal incentives, local content enhancement, and cost efficiency, so that investors can expect maximum transparency.

While the PIA establishes the legislative and regulatory foundation, the Executive Orders make sure the availability of competitive incentives, strengthening domestic participation, and improving operational timelines. These reforms, according to Komolafe, points towards Nigeria’s enthusiasm in welcoming innovation and investment in the upstream sector.

New investments amounting to US$16bn and initiatives such as the Project One Million Barrels to boost daily production to 2.5 mn barrels by 2026 will ensure energy security, resilience and environmental sustainability.

To achieve this the Commission has incorporated in the PIA framework key regulatory initiatives such as upstream digitisation, infrastructure expansion, and the implementation of transparent licensing systems aimed at enhancing efficiency, reducing costs, and restoring investor confidence.

Nigeria is aiming a gas-driven energy transition. The country has pledged to end routine gas flaring by 2030 and reduce methane emissions by 60% by 2031. He also announced the designation of 18 March as Nigeria’s official Upstream Decarbonisation Day, underscoring NUPRC’s commitment to climate aligned development, carbon markets, and emissions tracking.

Komolafe further warned that the Commission will continue strict enforcement of the Nigerian Gas Flare Commercialisation Programme (NGFCP), noting that regulatory action has already been taken against defaulting producers.