The Energy Governance Alliance (EGA) has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its decision to open the 2025 oil licensing round on December 1.
In a statement released on Wednesday, EGA’s Executive Director, Dr. Kelvin Sotonye William, described the move as a major boost for investor confidence and a sign of renewed seriousness in Nigeria’s oil sector. He said the decision reflects strong leadership and policy direction aimed at revitalising the country’s petroleum industry and drawing in new investments.
“The NUPRC has taken a decisive step that goes beyond opening new oil blocks; it is opening a new chapter of credibility and investor confidence in Nigeria’s petroleum industry. By anchoring this licensing round on transparency, data integrity, and predictable regulation, the Commission is sending a message to the world that Nigeria’s upstream business is once again open for fair, accountable, and profitable investment,” Dr. William said.
He commended NUPRC Chief Executive, Engr. Gbenga Komolafe, for what he called reform-focused leadership that has “restored discipline and clarity” to a sector often weighed down by bureaucracy and inefficiency.
“Under Engr. Komolafe’s leadership, the NUPRC has become the symbol of what the PIA envisioned, a modern, independent regulator that acts as a business enabler rather than a bureaucratic bottleneck. This licensing round reflects that vision in action. It is data-driven, investor-oriented, and fully aligned with the national ambition of expanding production by one million barrels per day,” he stated.
EGA noted that hosting the launch of the licensing round in London was both “strategic and symbolic,” positioning Nigeria as a credible destination for energy investment at a time when global competition for funding in the oil and gas industry is intense.
“The choice of London reflects Nigeria’s readiness to compete globally for investment capital. By meeting investors where they are and presenting a transparent investment case backed by reform, the NUPRC is rebuilding the trust that was lost over decades of opacity and policy inconsistency,” the statement added.
Dr. William also pointed to clear progress under the Commission’s supervision, citing the approval of 46 field development plans in 2025, a rig count exceeding 60, and a steady rise in crude oil production to 1.83 million barrels per day.
“These are not abstract figures, they are proof that Nigeria’s upstream recovery is real and that the reforms are working. When regulatory clarity meets investor confidence, capital follows. That is exactly what is happening under the NUPRC’s stewardship,” he said.
He urged the federal government to maintain its support for the Commission’s reform drive through consistent policy application, capacity development, and ongoing stakeholder engagement.
“With this licensing round, Nigeria has a chance to demonstrate that transparency and profitability are not mutually exclusive. If the current momentum is maintained, the country can not only push production above two million barrels per day but also move closer to achieving the broader economic vision of a $1 trillion GDP,” Dr. William added.
