The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) has attracted $4.9 billion capital expenditure (CAPEX) investments and unlocked almost 9,790 BSCF of reserves, 3.54 BSCF/D of gasoline, into the nation’s gasoline trade for the reason that implementation of the Petroleum Business Act (PIA) in 2021.
The regulator has additionally unveiled regulatory street map concentrating on to unlock over 55 trillion cubic toes of uncommitted gasoline reserves and attracting billions of {dollars} in new investments into the nation’s gasoline worth chain
The fee chief govt, Engr. Gbenga Komolafe, who disclosed this whereas talking on the third Gasoline Funding Discussion board held in Lagos, stated the NUPRC had authorized over 25 Non-Related Gasoline (NAG) Subject Improvement Plans,
Komolafe, who was represented by the manager commissioner, Improvement and Manufacturing, Engr. Enorense Amadasu, outlined the Fee’s strategic deal with driving gasoline growth, monetisation, and infrastructure growth to safe Nigeria’s vitality future and help financial transformation.
In line with him, Nigeria’s confirmed gasoline reserves at present stand at 210.54 trillion cubic toes (TCF) comprising 109.51 TCF of Non-Related Gasoline (NAG) and 101.03 TCF of Related Gasoline (AG). Of this, about 55 TCF representing 26 % of complete gasoline reserves stays uncommitted to present or deliberate monetisation initiatives, signalling a large funding alternative for each home and worldwide buyers.
Amadasu famous that with an annual common every day gasoline manufacturing of 6.99 billion customary cubic toes (BSCF/D) in 2024, Nigeria’s Reserves Substitute Ratio (RRR) stands at 1.56, whereas the Reserves Life Index (RLI) is about 92.7 years a sign of long-term sustainability for buyers within the nation’s gasoline sector.
The nationwide gasoline reserves, he stated, grew from 208.83 TCF in 2023 to 210.54 TCF in 2025, whereas gasoline manufacturing rose from 6.91 BSCF/D to 7.61 BSCF/D, reflecting regular progress throughout the worth chain. The home market at present accounts for about 28 % of complete gasoline utilisation, whereas exports by way of LNG and WAGP take up 35 %, and discipline use together with gasoline raise and reinjection represents 29 %.
On Coverage Reforms and Regulatory Milestones, Engr. Amadasu enumerated a number of regulatory devices which have formed Nigeria’s gasoline growth journey, together with the Related Gasoline Re-injection Act (1979), Nationwide Gasoline Coverage (2008), Flare Gasoline (Prevention of Waste and Air pollution) Rules (2018), Decade of Gasoline Initiative, and the landmark Petroleum Business Act (PIA) 2021.
Latest devices such because the Home Gasoline Supply Obligation Rules (2022), the Gasoline Flaring, Venting and Methane Emissions Rules (2023), and the Oil and Gasoline Corporations (Tax Incentives) Order (2024) additional consolidate the Fee’s pro-investment posture.
For the reason that enactment of the PIA, the Fee has authorized over 25 Non-Related Gasoline (NAG) Subject Improvement Plans, unlocking almost 9,790 BSCF of reserves, 3.54 BSCF/D of gasoline, and attracting over 4.9 billion {dollars} in CAPEX investments.
He additional disclosed that the Fee is actively facilitating regulatory approvals and negotiations for upstream gasoline provide to main initiatives corresponding to NLNG Prepare 7, the Ajaokuta–Kaduna–Kano (AKK) Pipeline, and the Brass Fertilizer and Petrochemical Mission.
Engr. Amadasu additionally noticed that, NUPRC is at present monitoring 19 lively gasoline growth initiatives, comprising 10 manufacturing amenities and 9 pipeline initiatives, with a mixed capability of three.55 BSCF/D. About 88 % of those initiatives are within the engineering section, whereas 12 % have progressed to building or fabrication.
He defined that 86 % of the brand new gasoline manufacturing initiatives are focused on the export market, significantly feed gasoline provide to the Nigerian LNG, whereas 23 % (142 MMSCFD) are directed towards the home market.
Mr Amadasu emphasised that the NUPRC’s regulatory street map aligns with the Federal Authorities’s Nationwide Gasoline Coverage and Power Transition Plan, which prioritise decarbonisation, clear vitality adoption, and inclusive financial progress.
In line with him, the Fee is intensifying efforts to draw new investments by eliminating entry boundaries by the drill or drop provision within the PIA, driving full implementation of the Decade of Gasoline Initiative, facilitating entry to fiscal incentives, selling cluster and nodal gasoline infrastructure growth, and Organising a Gasoline Manufacturing Ramp-up Technique Workshop in This autumn 2025.
He concluded by reaffirming that Nigeria stands at a pivotal juncture in its vitality journey one which calls for innovation, collaboration, and sustainable funding.
