The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been praised for transforming Nigeria’s oil and gas industry into a more transparent and investor-friendly environment, reshaping the energy landscape across the Economic Community of West African States (ECOWAS).
In a statement issued on Wednesday, the West Africa Energy Policy Institute (WA-EPI), led by its Executive Director, Fatoumata Diallo, commended the Commission for rebuilding international trust in Nigeria’s oil regulatory framework and setting new standards for energy governance across the sub-region.
“The NUPRC has revolutionized Nigeria’s upstream petroleum management in a way that benefits not only the nation but the wider West African region,” Diallo stated. “Through transparency, data-driven regulation, and investor assurance, the Commission has developed a model of efficient oil governance that is stabilizing markets and drawing new regional collaborations.”
Diallo emphasized that the Commission’s reforms are grounded in accountability, innovation, and competitiveness — marking a significant departure from the lack of transparency that once defined the sector.
“For the first time in decades, Nigeria’s oil industry is beginning to function like a properly managed enterprise,” she said. “Investors now have access to real-time data on production, licenses, and field performance. This openness has strengthened Nigeria’s image as a reliable energy hub in the region.”
WA-EPI highlighted that Nigeria’s active rig count has risen sharply from eight in 2021 to sixty-nine as of October 2025, describing the increase as “undeniable proof of revived investor confidence and regulatory stability.”
The organization further noted that the NUPRC’s reforms have boosted government earnings, with reported surpluses of 18.3 percent in 2022, 14.6 percent in 2023, and an impressive 84.2 percent in 2024.
“These figures go beyond mere statistics; they demonstrate the impact of a regulator that understands the synergy between transparency, investor protection, and economic expansion,” WA-EPI stated. “Through consistent engagement with industry players and financial institutions, the NUPRC has made Nigeria’s oil market more stable and predictable — a critical factor for long-term investment.”
The think tank also applauded the Commission for digitizing its licensing and compliance systems, describing the move as a landmark step that has minimized bureaucratic obstacles and strengthened investor confidence.
“The NUPRC has shown that true governance reform lies not in complexity but in fairness and integrity,” Diallo remarked. “When regulations are clear and enforced consistently, investors respond with confidence — and that confidence translates into employment, infrastructure growth, and regional development.”
WA-EPI further acknowledged Nigeria’s full enforcement of the Petroleum Industry Act (PIA), calling it the foundation of a new era in energy governance that aligns with global best practices on sustainability and fosters better relations with host communities.
“Throughout West Africa, nations are closely observing Nigeria’s reform journey,” the institute observed. “The success of the NUPRC’s initiatives proves that robust institutions and consistent policies can convert natural resource wealth into shared prosperity. Nigeria has now become a benchmark for responsible energy governance across the region.”
The policy institute concluded that the NUPRC-led reforms in Nigeria’s oil and gas industry are shaping the future of energy investment, trade, and infrastructure development across the ECOWAS bloc.
“With its scale and influence, every reform in Nigeria sends waves across West Africa,” Diallo added. “The NUPRC has established Nigeria as a credible, stable force in the global energy market — a success story that now inspires the region’s collective energy ambitions.”
