‘Every Kobo Accounted For’ – Group Defends NUPRC Over Frontier Fund

The Oil and Gas Watchdogs Network has applauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its Chief Executive, Gbenga Komolafe, for what it called the “transparent, responsible and judicious” management of the Frontier Exploration Fund.

It declared that every allocation has been deployed strictly in line with the Petroleum Industry Act (PIA).

In a statement signed by Comrade Boma Kenule and released on Sunday in Port Harcourt, the coalition stated that it became necessary to “set the record straight” following recent conversations regarding the statutory fund.

The group insisted that the Commission has shown commendable discipline and clarity of purpose, with ongoing activities in frontier basins, seismic acquisition, exploratory drilling and derisking campaigns, reflecting NUPRC’s commitment to growing Nigeria’s reserves and protecting long-term energy security.

“The NUPRC, led by Engr. Gbenga Komolafe, has shown a rare commitment to accountability and sectoral discipline in the management of the Frontier Exploration Fund,” the statement said.

“Every kobo has been channelled towards what the PIA intended: stimulating exploration in frontier basins, derisking new terrains and ensuring that prospective hydrocarbon fields receive the technical attention they require. This is what responsible regulation looks like.”

The Oil and Gas Watchdogs Network noted that its assessment was based on field monitoring and engagements with industry operators who attested to NUPRC’s methodical approach.

It stressed that Nigeria cannot afford waste or policy inconsistency at a time when global capital for fossil exploration is shrinking.

“What is particularly noteworthy is that Komolafe’s leadership has brought renewed credibility to the frontier exploration framework. He has consistently prioritised efficiency, ensured contractors meet benchmarks, and maintained clear engagement with host communities and state governments,” the coalition said.

According to the group, the responsible use of the Fund has helped restore confidence in pre-development exploration, a key requirement for safeguarding Nigeria’s future production capacity.

“Those who follow frontier basin work understand that exploration is capital-intensive, time-bound and technically demanding. The NUPRC’s prudent handling of the Fund has guaranteed that investments go exactly where they should. This is why stakeholders continue to express confidence in the Commission’s technical leadership,” the statement noted.

The group appealed to the Federal Government to continue reinforcing the autonomy and operational capacity of the Commission, saying NUPRC’s role is central to transparency and preventing misuse of statutory funds.

It also warned media houses and political actors against misrepresenting official remarks on the Fund, stressing that inaccurate reporting could distract from the progress already recorded.

“At a time when the sector needs clarity rather than noise, it is important to acknowledge institutions that are performing their statutory duties with diligence. The NUPRC has kept faith with the PIA and with the Nigerian people, and that should be recognised,” the statement added.

The Oil and Gas Watchdogs Network reaffirmed its commitment to monitoring regulatory compliance across the sector and pledged to keep spotlighting agencies that uphold transparency, protect public resources and strengthen Nigeria’s energy future.

Source: Naijanews