Nigeria is redefining its oil and gas sector with bold reforms aimed at boosting transparency, competitiveness, and long-term sustainability, according to the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe.
Gbenga Komolafe highlighted how the country has made significant strides in recent years at the Global Sustainable Education and Leadership Conference 2025 in London. He said, “We are not only regulating production. We are shaping the future of energy in Africa by ensuring that Nigeria remains a reliable supplier, a fair regulator, and a responsible global partner.”
The NUPRC boss pointed to a sharp increase in Nigeria’s rig count, which rose from eight in 2021 to 69 by October 2025, marking a growth of more than 760 per cent. “This growth reflects the confidence investors now have in our regulatory framework and the stability of our market,” Komolafe said.
Revenue collection has also exceeded expectations, with surpluses of 18.3 per cent in 2022, 14.6 per cent in 2023, and an exceptional 84.2 per cent in 2024. “Our focus is to maximise the value of Nigeria’s hydrocarbon resources while aligning with global sustainability standards,” he added.
Komolafe emphasised the importance of local participation in driving the sector’s growth. Indigenous operators now account for more than 30 per cent of national oil production, and the introduction of Host Community Development Trusts ensures communities directly benefit from oil and gas activities.
“This is about building a transparent, accountable, and investment-friendly system that reflects our national values and global aspirations,” Komolafe said. He stated that these reforms are positioning Nigeria as a credible, competitive, and responsible player on the global energy stage.
In recognition of his efforts, Gbenga Komolafe was honoured with the Global Sustainable Leadership Award at the conference held at the House of Lords in London. Accepting the award, he dedicated it to the Nigerian people, saying it celebrates “the courage and faith that drive our reforms in the upstream oil and gas sector.”