The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been hailed for transforming Nigeria’s oil and gas sector into a more transparent, investor-friendly industry that is reshaping regional energy dynamics across the Economic Community of West African States (ECOWAS).
In a statement released on Wednesday, the West Africa Energy Policy Institute (WA-EPI), led by its Executive Director, Fatoumata Diallo, credited the Commission with restoring global confidence in Nigeria’s oil governance framework and setting a new standard for energy regulation across the sub-region.
“The NUPRC has redefined Nigeria’s upstream governance in a way that benefits not just the country but the entire sub-region,” Diallo said. “By promoting clarity, data-driven regulation, and investor confidence, the Commission has created a model of strategic oil governance that is stabilizing markets and attracting regional partnerships.”
Diallo noted that the Commission has introduced reforms anchored on accountability, innovation, and competitiveness – a major shift from the opaque practices that once characterized the industry.
“For the first time in decades, oil in Nigeria is beginning to look like a normal, well-governed business. Investors can now access real-time production data, licensing information, and field performance reports,” she stated. “This level of accessibility is strengthening Nigeria’s reputation as a dependable regional energy hub.”
According to WA-EPI, Nigeria’s active rig count has surged from just eight in 2021 to 69 as of October 2025, a growth the institute described as “clear evidence of renewed investor confidence and regulatory stability.”
The group added that the NUPRC’s reforms have significantly boosted government revenues, recording surpluses of 18.3 percent in 2022, 14.6 percent in 2023, and an unprecedented 84.2 percent in 2024.
“These numbers are not mere statistics; they reflect a regulator that understands the connection between transparency, investor security, and economic growth,” WA-EPI said. “The NUPRC’s strategic engagement with operators and financiers has made Nigeria’s oil market more predictable — a key condition for sustained investment.”
The think tank further praised the Commission’s automation of licensing and compliance systems, describing it as a milestone that has drastically reduced bureaucratic interference and increased investor trust.
“The NUPRC’s reforms show that effective governance is not about adding complexity but about enforcing the rules with precision and integrity. When the system is fair, investors respond with trust, and that trust translates into jobs, infrastructure, and regional growth,” Diallo emphasized.
WA-EPI also commended Nigeria’s full implementation of the Petroleum Industry Act (PIA), calling it the cornerstone of a new era in oil governance that aligns the country’s regulatory framework with global sustainability standards and strengthens host community relations.
“Across West Africa, countries are watching how Nigeria manages this transition,” the institute noted. “The success of NUPRC’s reforms demonstrates that strong institutions and consistent rules can turn resource wealth into shared prosperity. Nigeria’s progress is now a regional benchmark for responsible oil governance.”
The policy institute concluded that Nigeria’s oil sector reforms under the NUPRC have far-reaching implications for the ECOWAS sub-region, influencing energy investment, regional trade, and infrastructure development.
“With its size and influence, every policy shift in Nigeria sends ripples across West Africa. The NUPRC has positioned the country as a credible and stable player in global energy markets — one whose success story now serves as a model for the region’s energy future,” Diallo added.
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