The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, has said the commission approved about $20bn worth of Field Development Plans in the last 10 months, in line with its ongoing reforms to boost oil production and attract fresh investments into the sector.
Komolafe, who was represented by the Deputy Director, Human Resources, Corporate Services and Administration at NUPRC, Efemona Bassey, stated this at a two-day strategic media workshop for energy correspondents in Lagos.
Speaking at the close of the workshop on Tuesday, Komolafe said the engagement underscored “the high value in which the NUPRC holds the media, given your strategic role as society’s watchdogs and the stewards of public trusts on information dissemination.”
Despite declining global investment in oil and gas, he said Nigeria had continued to make measurable progress.
He stated that the development was driven by regulatory instruments under the Petroleum Industry Act and further reinforced by President Bola Ahmed Tinubu’s “far-reaching” Executive Orders.
