)
)
Some stakeholders have lauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its Chief Executive Officer, Gbenga Komolafe, for the critical and patriotic role they played in steering the successful implementation of the Petroleum Industry Act (PIA).
The stakeholders, under the aegis of the Nigeria Oil and Gas Integrity Forum (NOAIF), gave the commendation in a statement by its president, Vivian Okorafor, on Saturday, April 26, 2025.
Describing the PIA as what many now consider the nation’s saving grace in the oil and gas sector, Okorafor said the passage of the law would have meant little without the “visionary, competent and firm regulatory leadership” demonstrated by the NUPRC and Komolafe.
“The PIA was a monumental achievement, but the real success story is what followed. Without the solid and transparent enforcement of the law by NUPRC, we would still be grappling with regulatory uncertainties, capital flight, and investor distrust. Today, because of strong leadership at the NUPRC, Nigeria’s upstream sector has regained the confidence of both local and international investors,” the statement reads.
)
)
)
ALSO READ: Tinubu, NUPRC under pressure as demand for more local refineries increase
The forum credited Komolafe for fostering an environment where regulation has become a catalyst for growth rather than a bureaucratic stumbling block, noting that since NUPRC took charge of the PIA implementation, key investment indicators in the sector have moved in a positive direction.
“In the past, regulatory opacity drained our oil industry of investments. But the NUPRC under Engr. Komolafe has reversed that trend. Transparent bid rounds, clear licensing processes, streamlined procedures — these have restored faith in Nigeria’s petroleum sector and placed us on a competitive global footing once again,” Okorafor stated.
Highlighting the Commission’s focus on promoting Nigerian content and encouraging indigenous companies, the forum said these steps were crucial for broad-based economic development.
“One of the quiet revolutions happening under the NUPRC is the deliberate empowerment of indigenous operators. For the first time in decades, we are seeing more Nigerian companies participating actively in the upstream space, thanks to policies that favour transparency, merit, and homegrown expertise,” she said.
It also applauded NUPRC’s introduction of digital platforms, which have simplified regulatory compliance, boosted efficiency, and reduced corruption in the oil and gas sector.
“Technology is now being deployed smartly to plug leakages. Licensing, reporting, and monitoring are now largely digital, making it difficult for underhand dealings to thrive. This is part of the transformational thinking that the NUPRC leadership has brought into the regulatory ecosystem,” she added.
)
PIA ushers in new fiscal regime
Okorafor noted that one of the most critical impacts of PIA implementation has been the new fiscal regime, which now makes Nigeria a more attractive destination for upstream investments compared to the pre-PIA era.
ALSO READ: Report urges NUPRC to enhance security, transparency in oil sector
“Before the PIA and the new fiscal frameworks enforced by NUPRC, Nigeria was losing out to other African nations like Angola and Ghana,” she explained.
“Today, our fiscal terms are competitive again, our procedures are predictable, and the regulatory environment is much more investment-friendly.”
The forum, while calling on President Bola Tinubu to continue supporting independent regulatory institutions like the NUPRC, urged stakeholders across the sector to work together with the Commission to consolidate the gains made so far.
“We urge Mr. President to shield institutions like the NUPRC from political interference. Nigeria must build strong institutions, not strong individuals. Komolafe and his team have shown what can happen when professionalism is allowed to lead. We must nurture and protect that.”
She concluded by noting that while challenges remain in the oil and gas industry, Nigeria is “finally on the right path,” thanks to the PIA and the leadership shown by NUPRC.
“No law is perfect. No reform is ever completely painless. But with the NUPRC’s firm handling of the PIA, Nigeria has a chance to write a new chapter in its oil and gas history — one marked by transparency, growth, and shared prosperity.”
The Nigeria Oil and Gas Integrity Forum pledged to continue monitoring developments in the sector and supporting initiatives that deepen transparency, expand opportunities, and ensure Nigeria’s energy wealth benefits all citizens.