The Nigerian Upstream Petroleum Regulatory Commission, (NUPRC) Chief Executive Officer, Gbenga Komolafe, has said that the country is attracting renewed global attention as a hotspot for oil and gas investment amid strategic reforms.
Komolafe stated this while speaking at the 2025 Africa Energies Summit in London, where he said the reforms were rooted in transparency, data access, and regulatory overhaul.
NUPRC boss told energy leaders and investors at the summit that Nigeria’s upstream sector transformation is anchored on three core pillars: transparent licencing rounds, quality subsurface data, and bold regulatory changes enabled by the Petroleum Industry Act (PIA).
“Each of these awards and rounds was conducted with unprecedented transparency, unmatched competitiveness, and remarkable investor engagement,” he said.
“Collectively, they have repositioned Nigeria as a prime destination for oil and gas investment while reaffirming our commitment to global standards of excellence, innovation, and partnership,” Komolafe added.
According to him, the NUPRC’s push to restore Nigeria’s competitiveness has been driven by access to reliable geological data — an essential element for informed exploration and development decisions.
He added that the commission, in collaboration with global partners, has embarked on one of the most ambitious data acquisition projects on the continent.
“Through a landmark partnership with TGS-PetroData and other multiclient service providers, the NUPRC embarked on one of Africa’s most ambitious data acquisition and reprocessing campaigns, acquiring over 11,000 square kilometres of 3D seismic data as part of the broader 56,000 sq km Awalé Project,” Komolafe said.
Komolafe added that the National Data Repository (NDR), a cornerstone of Nigeria’s data strategy, has been pivotal in improving investor due diligence.
“At the heart of this revolution also is our National Data Repository, NDR, which houses one of the most extensive seismic databases on the continent and records from over 10,000 wells, enabling both physical and remote access for thorough technical due diligence,” he said.
“This wealth of accessible, high-quality data has not only empowered investor confidence during recent bid rounds but has firmly repositioned Nigeria as one of the most data-rich and investment-ready destinations in the global energy landscape.”
Komolafe credited recent progress to the policy environment created under President Bola Tinubu’s administration. Measures such as the reduction of entry barriers and the adjustment of fiscal frameworks have made it easier for investors to commit to Nigeria.
“Today, entry fees are pragmatic, calibrated to global realities, and tailored to support commercial viability on a case-by-case basis,” he said.
“Through the Presidential Executive Orders and the proactive stance of the NUPRC, Nigeria has redefined itself not only as a land of vast hydrocarbon potential but as a destination where opportunity meets ease of doing business, certainty, and investor value.”
