- NUPRC’s energy reforms have unlocked over $18 billion in new investment commitments.
- Rig activity has risen from 8 in 2021 to 70 in 2025, showing a strong sector recovery.
The Forum of Retired Oil Workers has praised the NUPRC’s energy reforms, calling them a turning point for Nigeria’s oil and gas industry. The group said the commission’s leadership has restored investor confidence and triggered new waves of energy investments.
In a statement signed by its president, Richard Jackson, the forum commended Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission. They described his leadership as visionary and focused on performance. The retirees also noted that his policies align with President Bola Tinubu’s agenda to reposition the energy sector for sustainable growth and competitiveness.
Since the Petroleum Industry Act (PIA) came into effect, NUPRC has promoted transparency and accountability. As a result, Nigeria is regaining its image as a key destination for oil and gas investment. The approval of 28 field development plans (FDPs) in 2025 alone shows strong regulatory progress. These projects are expected to yield 600,000 barrels of oil and 2 billion standard cubic feet of gas daily.
The forum said these results are more than figures; they represent renewed life in a once-troubled industry. Over $18 billion in fresh investments have already been committed this year. Transparent licensing rounds and stable fiscal policies have also built investor trust.
Rig activity has grown sharply from eight in 2021 to seventy in 2025. Oil production has reached 1.8 million barrels daily. These results confirm that the NUPRC’s energy reforms are producing measurable growth.
The retirees further applauded the commission’s work on decarbonisation and energy transition. They said NUPRC’s balanced policies support both environmental responsibility and economic stability. The group urged the commission to maintain its momentum, engage stakeholders, and uphold global standards.