Nigeria’s upstream oil regulator has reaffirmed the country’s central position in Africa’s energy landscape, disclosing that Nigeria holds nearly 30% of the continent’s oil reserves and over a third of its gas resources.
Speaking at an oil and gas industry forum in Abuja, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, said Nigeria’s hydrocarbon wealth and evolving regulatory framework are attracting renewed investor interest.
“Our host community development model is working. It’s helping reduce conflict in oil-producing areas and is now seen as a regional template,” Komolafe said.
He noted that NUPRC has introduced 17 new regulations, including fresh policies for Deepwater exploration and a collaborative strategy to boost production through joint efforts with operators and other government agencies.
Local Content Push Paying Off
Komolafe also praised President Bola Tinubu’s Executive Order, which expands local content laws and places greater focus on developing Nigerian talent.
“Global oil firms are beginning to trust our in-country expertise. Nigeria isn’t just exporting crude anymore; we’re now exporting our local content model across Africa,” he added.
Midstream, Downstream Authorities Eye Integration
Adding to the conversation, Engr. Farouk Ahmed, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), represented by Prof. Zainab Gobir, called for stronger regional cooperation in pipeline infrastructure and gas investment.
He stressed the need for harmonised tariffs, shared facilities, and regulatory alignment across African nations to unlock economies of scale.
Ahmed also pointed to the Petroleum Industry Act (PIA) as a strong example of reform, especially its Midstream and Downstream Gas Infrastructure Fund, which helps reduce risk for investors in gas projects.
“Our ‘one-stop shop’ is streamlining approvals and engaging stakeholders more consistently,” he said. “We’re also working closely with NCDMB to strengthen local content implementation.”
Production, Reforms Fuel Sector Recovery
Dr. Ernest Nwapa, pioneer Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), said the country’s oil and gas sector is seeing a revival, supported by improved production, deregulation of downstream operations, and a shift toward transparency and good governance.
“It’s a different energy sector today,” Nwapa said. “We’ve gone from being reactionary to becoming more proactive in policy, investment, and capacity-building.”
Outlook
Analysts say Nigeria’s repositioning is timely, as global investors look to African producers amid growing uncertainty in other oil regions. However, execution remains key, especially in ensuring that reforms translate into real sectoral growth, job creation, and sustainable development for host communities.