Nigerian Upstream Petroleum Regulatory Commission unveils reforms to boost oil production and investment
via Punch Nigeria20 hours ago3 min read
Oritsemeyiwa Eyesan, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission NUPRC, has announced a reform agenda to increase crude oil production, restore investor confidence, and position Nigeria as a competitive global energy destination. In an interview published in The Upstream Gaze, Eyesan stated that the Commission will implement technology-driven regulation, expedite approvals, and enhance transparency in licensing and compliance. These reforms are crucial for achieving the Federal Government’s medium-term production target of three million barrels per day, aligning with Bola Tinubu's agenda. The NUPRC is prioritizing a fully digital regulatory ecosystem to eliminate bottlenecks, improve transparency, and adhere to global best practices. A key component is the rollout of an end-to-end digital licensing platform with online submissions, automated workflows, clear timelines, real-time tracking, and digital permit issuance. The Commission is also upgrading national data systems with real-time monitoring capabilities, standardized metering protocols, automated reporting, and enhanced centralized data repositories. Analytics-driven compliance tools will be deployed to improve oversight and ensure consistency in regulatory decisions. Eyesan emphasized that these reforms will create a more predictable and competitive investment climate, reducing discretion, shortening project timelines, and boosting governance and accountability. The NUPRC is
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Original source
This summary was AI-generated from a story originally published by Punch Nigeria.
