Oluwafunbi Bello 
CEO, NUPRC, Gbenga Komolafe
ABUJA, Nigeria – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is intensifying reforms to strengthen transparency, boost investor confidence and reposition the country’s oil sector for sustained growth.
Speaking at a strategic workshop for energy correspondents in Lagos on Tuesday, the Chief Executive, Gbenga Komolafe—represented by Mrs Efemona Bassey—said the media plays a central role in ensuring accountability across the industry.
“At the heart of our mission is a shared commitment to openness, accountability and service to the Nigerian people,” Komolafe stated. Added Nigeria is witnessing renewed investor interest despite declining global funding for fossil fuels.
He disclosed that nearly 70 oil rigs are currently within the country, with over 40 actives, and several multi-billion-dollar projects have been approved in the last 10 months, including a landmark $20 billion development plan.
A new oil licensing round will open on December 1, which he described as “a defining and more transparent process aimed at unlocking new frontiers for investors.”
The workshop forms part of ongoing engagements to deepen media capacity and ensure the public remains informed about Nigeria’s evolving energy landscape.
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Oluwatobi Adu 
Edino Chubiyo Cornelius 
Koko Maxwella 