NUPRC’s oil sector reforms boost investment climate - RHAN

In a press conference, RHAN’s national secretary, Dr Opialu Fabian, praised Komolafe’s efforts in implementing the Petroleum Industry Act (PIA), which he described as a game-changer for Nigeria’s petroleum industry.

“Undoubtedly, Nigeria’s oil and gas sector has undergone a dramatic transformation since the PIA was passed,” Fabian stated.

“It has created a well-organised regulatory framework aimed at boosting investment, efficiency, and transparency.”

According to RHAN’s report, Komolafe’s initiatives—including technology-driven regulation, the review of crude oil handling agreements, and enhanced local content development—have helped curb oil theft, increase transparency, and attract foreign investment.

RHAN also highlighted the commission’s commitment to ensuring that host communities benefit from oil production, fostering socio-economic growth and reducing conflicts.

Despite acknowledging challenges such as oil theft, regulatory bottlenecks, and security threats, Fabian expressed confidence in Komolafe’s leadership.

“With consistent implementation of reforms and a commitment to global best practices, the PIA and NUPRC’s efforts will continue to shape Nigeria’s oil and gas industry,” he noted.

The group urged stakeholders to support the commission’s efforts to strengthen security, digitisation, and revenue optimisation, further enhancing the sector’s contribution to national development.