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Tag: NUPRC

featured Oil and Gas

Nigeria earned ₦55.5tn from crude oil sales in 2025 — NUPRC

Nigeria earned an average of N55.5tn from crude oil sales in 2025, according to an analysis of official production figures from the Nigerian Upstream Petroleum Regulatory Commission and crude price data from the Central Bank of Nigeria. This 2025 figure represents an increase compared to the N50.88tn earned in 2024. NUPRC data show that Nigeria […]

Business

Only qualified bidders will advance in 2025 licensing round – NUPRC

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, has said that only bidders with strong technical and financial capacity, proven professionalism, and credible development plans will qualify in the 2025 petroleum licensing round. Eyesan made this disclosure on Wednesday at the 2025 licensing round pre-bid webinar. “So as we move […]

Oil and Gas

NUPRC, NMDPRA strengthen regulatory collaboration to boost investments

The Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have taken significant steps towards strengthening regulatory efficiency and attracting fresh investments into Nigeria’s oil and gas industry. The development followed a high-level meeting held at the corporate headquarters of the NUPRC in Abuja, which was attended by the Commission […]

Business

NUPRC, NMDPRA partner to attract investment, streamline regulations

The Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have stepped up efforts to improve regulatory efficiency and attract investment into Nigeria’s oil and gas industry, marking a renewed phase of collaboration between the two bodies. In a statement signed by the Head of Media and Strategic Communication at […]

Cut corporate tax to 7.5%, NACCIMA urges Tinubu
featured Oil and Gas

Tinubu nominates Magnus Abe as NUPRC board chairman

President Bola Tinubu has nominated former Rivers South-East Senator Magnus Abe as chairman of the Nigerian Upstream Petroleum Regulatory Commission and forwarded his name alongside 20 other nominees to the Senate for confirmation to serve on the boards of the country’s two major petroleum regulatory agencies. In separate letters transmitted to the Senate on Monday, […]

Business

Eyesan assumes office as NUPRC Chief, vows upstream sector growth 

The newly appointed Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Mrs Oritsemeyiwa Eyesan, has assumed office, pledging to advance the growth of Nigeria’s upstream oil and gas sector in line with the Petroleum Industry Act 2021. In a statement by the Head of Media and Strategic Communications, Eniola Akinkuotu, Eyesan outlined her […]

featured

NMDPRA, NUPRC chiefs step down

The chief executives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Petroleum Regulatory Commission, Engineers Farouk Ahmed and Gbenga Komolafe, have stepped down from their positions. The development was confirmed in a statement issued on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy. Following the […]

featured

$185m, N14.9bn frontier exploration fund released to NNPCL – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has revealed that more than $185 million (approximately N268.4 billion) and N14.9 billion have already been released to the Nigerian National Petroleum Company Limited from the Frontier Exploration Fund. The Commission’s Head of Media and Strategic Communication, Eniola Akinkuotu, made this disclosure in a statement on Monday, responding to recent reports […]

Business

NUPRC sets December 1 for 2025 oil licensing round

The Nigerian Upstream Petroleum Regulatory Commission has confirmed that the 2025 Oil Licensing Round is set to begin on December 1, 2025. This was disclosed by the Commission’s Chief Executive, Engr. Gbenga Komolafe, during the Project 1MMBOPD Additional Production Investment Forum in London on Tuesday. In a post on X (formerly Twitter), the NUPRC quoted […]

Oil and Gas

NUPRC urges Bank of America to fund Nigeria’s upstream oil sector

The Nigerian Upstream Petroleum Regulatory Commission has urged the Bank of America to prioritize Nigeria’s upstream oil and gas sector in its investment portfolio to attract funding and boost oil production. NUPRC’s chief executive, Gbenga Komolafe, made the call during a meeting with Chuba Ezenwa, managing director and head of investment banking, Sub-Saharan Africa, Bank […]

Business

Host community trust fund rises to ₦373b, says NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has announced that the Host Community Development Trust Fund has grown to ₦373 billion as of October 13, 2025, with 536 development projects currently underway across oil-producing regions. In a statement on Monday, the Commission’s Head of Media and Strategic Communications, Eniola Akinkuotu, said the fund includes ₦125 billion […]

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