By Udeme Akpan
The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) has reported that the variety of lively oil rigs working within the nation elevated to 44 in July from Might 2025, representing a 37.5% rise.
The Fee attributed the rise to a discount in oil theft ensuing from the Federal Authorities’s kinetic and non-kinetic interventions.
In accordance with the NUPRC, a complete of N326.51 billion, representing the statutory 3% of oil and gasoline operators’ operational expenditure (OPEX), has been disbursed to 145 Host Neighborhood Growth Trusts (HCDTs) duly integrated by the Company Affairs Fee (CAC).
The quantity, sourced from 94 settlors according to the provisions of the Petroleum Trade Act (PIA), features a US greenback element transformed at an trade fee of ₦1,529.63 to $1 as of July 1, 2025.
Engr. Gbenga Komolafe, Chief Govt of the NUPRC, disclosed these figures throughout his keynote presentation on the ongoing NOG Power Week 2025 in Abuja. He emphasised the Fee’s dedication to fostering progress within the upstream sector whereas making certain that host communities profit meaningfully from useful resource improvement.
Komolafe highlighted the Fee’s initiatives, together with the Mission One Million Barrels initiative, which goals to extend Nigeria’s manufacturing from 1.46 million to 2.5 million barrels per day by 2026. He additionally famous that 1.7 million bpd has already been achieved.
The NUPRC Chief Govt additionally emphasised the significance of defending property and curbing oil theft. He mentioned that 37 new evacuation routes have been authorized, and the Fee is working carefully with safety companies to spice up accountability.
On the social entrance, Komolafe highlighted the Fee’s HostComply platform, which has introduced transparency and actual advantages to oil-producing communities. He additionally famous that the Fee’s full-scale digitisation efforts are remodeling regulatory oversight, delivering velocity, effectivity, and readability to buyers.
Komolafe reiterated the Fee’s dedication to implementing the Nationwide Gasoline Flare Commercialisation Programme (NGFCP) and reaching nationwide and international local weather objectives. He said that the Fee is not going to tolerate non-compliant producers and can take regulatory motion in opposition to those that fail to fulfil their agreements.
The NUPRC Chief Govt expressed optimism about showcasing operational flare seize initiatives that mirror the nation’s dedication to nationwide and international local weather objectives at subsequent yr’s NOG occasion.
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