The Federal Government has gazetted 21 new regulations for Nigeria’s oil and gas upstream sector in a sweeping move to unlock investments, streamline operations, and align industry practices with both national and global priorities.
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, made this known while delivering a goodwill address at the 48th edition of the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition held in Lagos.
According to Komolafe, the new regulatory frameworks developed under the Petroleum Industry Act, 2021, are designed to offer clarity, attract capital, and promote accountability across exploration and production operations.
“Since the enactment of the Petroleum Industry Act, 2021, the commission has so far gazetted 21 key regulations, with others at various phases of development.
“These regulations provide the clarity required to support investment, streamline administration, and align upstream operations with national and global priorities,” he said.
