IEA Commends NUPRC’s Regulatory Reforms, Seeks Deeper Collaboration

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) hosted a high-level delegation from the International Energy Agency (IEA) at its Headquarters in Abuja, during a courtesy visit aimed at strengthening strategic collaboration on data integrity, energy transition, investment climate, and upstream sector governance.

The delegation was received by the Commission Chief Executive (CCE), Engr. Gbenga Komolafe, who reaffirmed the Commission’s unwavering commitment to transparent regulation, investor confidence, and sustainable development in line with the provisions of the Petroleum Industry Act (PIA) 2021.

Komolafe noted that the PIA has created a predictable, rule-based fiscal and governance framework that continues to inspire renewed investor confidence.

He highlighted that the Commission has, within four years, developed and gazetted seventeen regulatory instruments in close consultation with industry stakeholders enhancing clarity, reducing discretion, and promoting an enabling environment for capital inflow.

“The PIA provides a transparent, commercially-viable, and investor-friendly regulatory foundation. Our commitment is to sustain regulatory certainty, deepen stakeholder confidence, and align Nigeria’s upstream sector with global best practices,” the CCE stated.

In her remarks, the IEA Africa Programme Manager, Rita Maderia, commended NUPRC for embedding decarbonization requirements into upstream project approvals, noting that the Commission’s policy of integrating green strategies into Field Development Plans (FDPs) aligns with global funding expectations for low-carbon projects.

The IEA reiterated that Nigeria’s gas resources remain pivotal to closing Africa’s energy access deficit, where nearly 600 million people lack electricity.

The Agency emphasized that even if Africa fully develops its identified gas reserves, global emissions would rise by only 0.5%, underscoring the minimal climate impact and the continent’s right to energy development.

The IEA also expressed readiness to provide Nigeria access to select market intelligence products such as the Monthly Oil Market Report.

Komolafe highlighted the Commission’s efforts to safeguard the integrity and commercial value of upstream data. He disclosed that the Commission is enhancing its digital data management systems.

“Authoritative, professionally validated data remains essential for investor confidence and sector credibility. We are ensuring proper utilization, protection, and value optimization of Nigeria’s upstream data,” the CCE added.

He emphasized that NUPRC will maintain an open-door policy to foster continuous engagement with the IEA and other development partners as Nigeria positions itself as a leader in Africa’s energy transition and upstream investment growth.