Lokpobiri Commends NUPRC On Upstream Milestones, Calls For More Investment And Production
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri Ph.D, has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its achievements over the past five years, urging the Commission to sustain reforms that unlock investment, increase drilling activity and grow Nigeria’s petroleum production.
Speaking at the 5th Anniversary Commemoration of NUPRC, Lokpobiri reflected on the challenges confronting the upstream sector when the Renewed Hope Administration assumed office in 2023, noting that production was then approximately one million barrels per day, while active drilling rigs were fewer than 10.
He said the subsequent increase in drilling activity to more than 70 active rigs represents an important development for the sector, stressing that sustained drilling is fundamental to securing future production.
“The drilling campaigns of today will account for the production capacity in years to come,” the Minister said.
Lokpobiri recalled that, at the time, NUPRC was only two years old and faced significant regulatory and operational bottlenecks. He stated that his guiding principle was that the Commission should be measured not merely by regulations implemented, but by the businesses and investments it enables.
“NUPRC will not be judged by the number of regulations implemented, but by the number of businesses enabled,” he stated.
The Minister noted that Nigeria remains richly endowed with petroleum resources, with official oil and condensate reserves standing at 37.01 billion barrels as of January 1, 2026. He, however, stressed that reserves can only create economic value when they are effectively explored, developed and produced.
He attributed the renewed investment interest in Nigeria’s petroleum sector to ongoing reforms aimed at creating a more competitive and predictable business environment under the leadership of President Bola Ahmed Tinubu.
A release by Nneamaka Okafor, Media and Communications aide to the Minister of State for Petroleum Resources (Oil) Lokpobiri commended NUPRC for its progress and charged the Commission to “keep the fire burning” by unlocking more barrels, enabling businesses, accelerating investment and leveraging Nigeria’s strategic location to attract greater capital into the country.
He further urged the Commission to maintain timely and decisive regulatory processes, noting that global investors have multiple jurisdictions to choose from and that unnecessary delays could redirect capital elsewhere.