By Oke Peter
Since the passage of the Petroleum Industry Act (PIA) 2021, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has emerged as the central authority regulating upstream oil and gas operations. The PIA transferred upstream regulatory responsibilities from the former Department of Petroleum Resources (DPR) to NUPRC, with a clear mandate to improve transparency, accountability, and investor confidence in Nigeria’s petroleum sector.
In the years following the PIA, NUPRC has reported measurable achievements under its new framework. Between 2022 and 2025, the Commission exceeded its revenue targets — surpassing benchmarks by 18.3 % in 2022, 14.65 % in 2023, and a remarkable 84.2 % in 2024 — significantly boosting government receipts from upstream activities. The Commission approved 79 Field Development Plans (FDPs) during the same period, representing potential investments of nearly $40 billion, signaling renewed investor confidence. Rig counts also rose dramatically, from eight in 2021 to 69 by October 2025, reflecting increased exploration and production activity.
A major focus has been on licensing and acreage management, NUPRC implemented fully digital bidding rounds for oil blocks, positioning these as the most transparent licensing processes in Nigeria’s history. The Commission publicly rejected allegations of irregularities in the 2024 licensing round, asserting full compliance with statutory guidelines. These reforms align with the PIA’s objective of fostering a predictable and competitive upstream sector.
Transparency measures have expanded to include the Concession Situation Report, which maps oil and gas assets, ownership, and operational status. The Commission also established a public register of petroleum titles and beneficial ownership, making previously opaque information accessible to stakeholders, including host communities, civil society, and watchdog groups. Many reform advocates credit these initiatives with enhancing oversight and accountability in the upstream sector.
The Commission emphasizes consultations with industry players and civil society during regulatory drafting and PIA implementation. Input from these consultations has reportedly informed several regulatory instruments, reflecting the PIA’s intent to balance commercial predictability with transparency and environmental and community considerations.
Independent assessments, however, remain mixed. Energy sector players, including international oil companies, acknowledge the more predictable and technology-driven licensing environment. At the same time, analysts and civil society organizations stress that the ultimate test of transparency will be sustained public access to data, consistent enforcement of anti-corruption provisions, and equitable benefit flows to host communities. While public registers and contract disclosures represent progress, full implementation and quality of data remain works in progress.
The upstream regulatory framework continues to evolve, with ongoing legislative discussions about potential amendments to the PIA that could affect NUPRC’s mandate and operational scope. These debates highlight the dynamic nature of Nigeria’s petroleum governance and underscore the importance of institutional resilience.
In summary, since the PIA’s enactment, NUPRC has overseen notable upstream growth, including higher investment approvals, increased rig activity, and more structured licensing processes. The Commission has taken significant steps toward transparency and objectivity, particularly in asset ownership disclosure and stakeholder engagement. Energy stakeholders recognize these improvements, but experts agree that full transparency, fairness, and accountability require ongoing enforcement, accessible public data, and sustained community engagement — objectives that remain in progress rather than fully realized.
