Retired Oil Workers Laud NUPRC’s Reforms, Cite Boost in Output and Investor Confidence

The Forum of Retired Oil Workers has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its ongoing reforms, transparency measures, and renewed investor confidence under the leadership of its Chief Executive, Gbenga Komolafe.

In a statement issued in Lagos on Monday, the forum described Komolafe’s leadership as visionary and aligned with the federal government’s drive to reposition the oil and gas sector for sustainable growth and competitiveness.

According to the forum, the Commission’s implementation of policy initiatives under the Petroleum Industry Act (PIA) has restored trust in Nigeria’s upstream sector, boosted production, and strengthened the country’s appeal to international investors.

The group noted that 28 Field Development Plans (FDPs) approved by the NUPRC in 2025 alone are expected to deliver an additional 600,000 barrels of oil per day and more than 2 billion standard cubic feet of gas daily — a milestone that signals renewed momentum in exploration and development activities.

“These figures represent a real turnaround in a sector once slowed by uncertainty and underinvestment,” the forum said, adding that the approval of new field projects and the unlocking of 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas in reserves in one year show that the reforms are producing measurable results.

The group also highlighted increased investor interest, with more than $18 billion in new upstream commitments recorded in 2025, attributing the surge to transparent licensing rounds and a stable fiscal framework introduced by the Commission.

It further praised the regulator’s collaboration with host communities and its integration of energy transition and decarbonisation frameworks that balance environmental sustainability with economic stability.

“Komolafe’s pragmatic approach recognises the need for cleaner energy while ensuring the nation’s financial stability,” the statement noted, citing the Commission’s support for the Decade of Gas initiative and its Decarbonisation Framework as key drivers of balanced energy reform.

The retired professionals also commended the NUPRC’s enforcement of 24 new PIA-aligned regulations that have improved governance, accountability, and operational predictability across the upstream value chain.

Rig activity, which stood at only eight in 2021, has reportedly risen to 70 this year, while national crude production now averages 1.8 million barrels per day — further evidence, the forum said, that the Commission’s strategies are yielding tangible gains.

The group urged the NUPRC to sustain the pace of its reforms, deepen stakeholder engagement, and continue holding operators to global standards of safety and transparency.

“With consistent implementation of these reforms, the Commission is writing a new chapter in Nigeria’s oil and gas story — one defined by efficiency, accountability, and renewed investor confidence,” the forum stated.