The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved about $20 billion worth of Field Development Plans over the past ten months, marking a significant step toward increasing oil production and attracting fresh investment into the country’s energy sector.

NUPRC Chief Executive Gbenga Komolafe, speaking at a strategic media workshop in Lagos through a representative, highlighted the progress despite a global slowdown in oil and gas investment. He attributed the development to regulatory measures under the Petroleum Industry Act and President Bola Ahmed Tinubu’s recent executive orders aimed at strengthening the sector.

According to Komolafe, Nigeria’s crude oil production has on several occasions exceeded 1.7 million barrels per day. The country’s rig count has also risen to nearly 70, with more than 40 rigs actively producing. The NUPRC plans another licensing round on December 1, 2025, to open new exploration opportunities and expand the nation’s reserves base.

The commission also emphasized the critical role of journalists in shaping investor confidence, urging reporters to provide factual and development-oriented coverage. Komolafe noted that accurate reporting can reassure investors and support sustainable growth in the oil sector.

Transparency remains a priority for NUPRC, which regularly publishes updates through its website, social media platforms, and its quarterly magazine, The Upstream Gaze. Komolafe concluded by urging media professionals to critique government policies with knowledge and fairness, focusing on building a stronger, more resilient energy industry in Nigeria.