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From Adanna Nnamani, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that President Bola Tinubu’s executive orders have significantly improved the competitiveness of Nigeria’s oil and gas industry by cutting project timelines, reducing contracting costs and unlocking new investments across the upstream sector.
The Commission Chief Executive (CCE), Engr. Gbenga Komolafe, stated this in Abuja on Thursday, while delivering the keynote address at the 2025 Annual Conference of the Energy Correspondents Association of Nigeria (ECAN), themed “Four Years of the PIA: Achievements, Gaps and the Road Ahead.”
Komolafe explained that the executive orders issued in March 2024 have strengthened the implementation of the Petroleum Industry Act (PIA) by eliminating bureaucratic bottlenecks and streamlining approval processes that once slowed down exploration and field development.
According to him, the directives have shortened contracting cycles, reduced project costs, enhanced regulatory clarity and restored investor confidence.
He noted that Nigeria’s crude oil production is steadily rising under the Commission’s Project One Million Barrels Initiative, with unreconciled volumes averaging between 1.7 million and 1.83 million barrels per day.
The NUPRC boss added that with ongoing reforms, revived investments and the reactivation of dormant fields, the national target of 2.5 million barrels per day by 2026 remains achievable.
He highlighted reforms implemented under the PIA, including the issuance of 19 enabling regulations, revitalisation of the National Data Repository, transparent licensing rounds, new evacuation routes approved to curb oil theft, enforcement of the Domestic Crude Supply Obligation and digitalisation of host community operations through HostComply.
He said these steps have strengthened transparency, oversight and investor confidence in the industry.
Komolafe urged sustained collaboration among stakeholders to deepen reforms and build a resilient oil and gas sector capable of driving long-term national development.
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“The administration has also prioritized energy security and transition by focusing on the development of natural gas as a transition fuel, addressing both domestic and international energy needs. Moreso, it is important to highlight that, prior to these Executive Orders, the Business Facilitation (Miscellaneous Provisions) Act 2023, also known as the Omnibus Act, was signed into law in 2023, to remove bureaucratic barriers to business operations in Nigeria. Collectively, these efforts reflect a comprehensive approach to creating a more dynamic and investment-friendly environment, ensuring long-term growth and success in the country’s oil and gas sector and other important sectors of the Nigerian economy,” he stated.
In his address, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the PIA has brought greater transparency and stronger institutional structures to the sector.
Ekpo noted that the oil and gas industry is now operating under clearer rules and more predictable frameworks that support investment decisions.
Represented by the Director of Gas, Ruth Mela-Nunghe, he said, “The PIA has created a better-defined regulatory environment that promotes accountability and efficiency. While we have made significant progress, the law remains a living document that must evolve with global energy transition realities.”
Earlier, the Chairman of the Energy Correspondents Association of Nigeria (ECAN), John Ofikhenua, said the PIA broke decades of policy stagnation and ushered in clarity and accountability.
Ofikhenua commended reforms undertaken so far but stressed that continuous improvements are needed to keep Nigeria competitive in the global energy market.
According to him, “The PIA has indeed changed the story of the Nigerian petroleum industry, providing structure where there was ambiguity. But as the energy landscape transforms globally, Nigeria must keep adjusting its frameworks to stay ahead.”
