The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday revealed that since the enactment of the Petroleum Industry Act (PIA), it has approved over 25 Non-Associated Gas (NAG) Field Development Plans (FDPs), attracting over $4.9 billion in capital expenditure (Capex) investment.
Besides, the upstream regulator stated that its activities unlocked nearly 9,790 billion standard cubic feet (BSCF) of reserves and 3.54 BSCF/D of gas output.
It stated that Nigeria’s ambition to become Africa’s gas powerhouse received a major boost with the unveiling of a bold regulatory roadmap, aimed at unlocking over 55 trillion cubic feet (TCF) of uncommitted gas reserves and attracting billions of dollars in new investments into the country’s gas value chain.
A statement in Abuja by the Head, Media and Strategic Communication, NUPRC, Eniola Akinkuotu, stated that the Commission Chief Executive (CCE), Gbenga Komolafe, made these comments at the 3rd Gas Investment Forum held in Lagos.
Represented by the Executive Commissioner, Development and Production, Enorense Amadasu, Komolafe outlined the Commission’s strategic focus on driving gas development, monetisation, and infrastructure expansion to secure Nigeria’s energy future and support economic transformation.
