Nigeria has witnessed a remarkable 90 per cent reduction in crude oil theft from over 102,000 barrels per day in 2021 to 9,600 barrels per day as of September 2025.
According to Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, this was as a result of the collaboration with security agencies, private contractors and community stakeholders in implementing the Upstream Measurement Regulation and the Advance Cargo Declaration Regulation.
Komolafe, who was represented by the Director in -charge of Lagos office, Paul OSU, stated this while delivering his address on ‘Nigeria’s Energy Future and the Role of NUPRC in Driving Upstream Oil and Gas Industry’s Rebound’, during the Nigeria Association of Energy Correspondents (NAEC) Conference 2025 in Lagos.
He pointed out that another transformative was the commission’s work in host community development.
According to him, by implementing the PIA’s Host Communities Development Trust (HCDT) provisions, the commission has successfully inaugurated over 90 Trusts across the Niger Delta, ensuring that development funds flow directly to communities.
This model, according to him, not only secured local ownership, but also guaranteed peace, stability and continuity in production, being key pillars for sustained energy security.
Looking into the future, he said the commission’s priorities remain clear to sustain Nigeria’s upstream rebound, achieve 2.5 million barrels of oil per day by 2027, strengthen gas monetization, protect nation’s. energy infrastructure and uphold the principles of transparency, accountability and efficiency that define regulatory mandate.
He said:’ The rebound we are witnessing in Nigeria’s upstream sector is not by chance; it is the outcome of deliberate regulatory design, anchored on transparency, efficiency and inclusiveness. The Commission’s strategic vision aligns with Nigeria’s broader economic goals and global sustainability commitments.’
The commission chief executive tasked the media on accurate reporting, saying this shaped perceptions, influences investments and builds credibility.
‘I urge NAEC members and the wider press community, to continue ensuring that their reports are factual, verified and development-oriented. Responsible reporting strengthens investor confidence and preserves national reputation; misinformation on the other hand, can distort progress and discourage the very investments our nation seeks to attract,’ he said.
Listing some of the regulatory policies’ implementation, Komolafe said that NUPRC implemented a series of transformative regulatory interventions designed to reposition Nigeria’s upstream sector for competitiveness, resilience and sustainable growth.
Through these efforts, he said the commission was able to drive the rebound of the oil and gas industry, and also shaped Nigeria’s long-term energy future.
According to him, the first major step was to enhance data transparency and accessibility, pointing out that investment decisions in oil and gas are inherently data-driven and without reliable geological information, the most promising basins would remain unattractive.
‘To address this, the commission embarked on an ambitious campaign to acquire, reprocess and digitise seismic data across frontier and producing basins.
‘Over 17,000 line-kilometres of 2D and 28,000 square kilometres of 3D seismic data have been reprocessed to global standards, significantly reducing exploration risks and unlocking new investment frontiers.
‘The commission introduced a fully digitalized and transparent licensing process.
‘During the 2024 mini-bid round, human interface was minimized and transparency maximized,’ he said.
According to the commission chief executive, working with the President Bola Ahmed Tinubu, signature bonuses were reviewed downward from about $100 million to $10 million, allowing investors to commit more resources to field development.
This single decision, he said has strengthened investor confidence, encouraged early production and reinforced Nigeria’s reputation as an open and competitive upstream jurisdiction.
Beyond this, he said the Commission also prioritized production optimization and recovery enhancement, adding that by reviewing field development plans, supporting brownfield optimization and enabling the re-entry of shut-in wells, the NUPRC facilitated renewed activity across mature assets.
‘These interventions are projected to deliver incremental volumes exceeding one million barrels of oil per day, a key milestone toward achieving the national production target of 2.5 million BOPD by 2027,’ he said.
He added that the commission is also advancing Nigeria’s gas agenda as part of the ‘Decade of Gas’ and the nation’s energy transition pathway.
‘Natural gas remains our most reliable transition fuel, a catalyst for industrialisation, power generation and clean energy substitution’ he said.
By promoting gas monetisation, flare elimination and gas-based investments, he said the commission is reinforcing Nigeria’s commitment to a just and balanced energy transition.
He said: ‘Globally, the context reinforces this direction. The IEA projects that upstream investment will surpass $580 billion in 2025, marking a steady recovery from pandemic lows.
‘While renewables will continue to grow, hydrocarbons will remain central to industrialization, particularly in emerging economies like Nigeria.
‘Our task therefore, is to ensure that this production is done efficiently, transparently and sustainably, consistent with international best practice,’ he said.