Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said the Federal Government will enforce the “Drip or Drop” principle enshrined in the Petroleum Industry Act (PIA) to ensure the timely utilisation of oil and gas assets by licensed operators. Lokpobiri stated this during the pre-bid conference for the 2025 licensing round held …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have strengthened their partnership aimed at boosting revenue collection for the Federation. The decision was taken on Monday, when the new NUPRC Chief Executive, Oritsemeyiwa Eyesan, visited the NRS Chairman, Zacc Adedeji, at the corporate headquarters of the tax agency in Abuja. …
As Nigeria pushes for new investments in the oil and gas industry, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has scheduled to hold a pre-bid conference for the 2025 oil and gas licensing round. In a statement released on Friday, signed by the NUPRC Chief Executive, Oritsemeyiwa Eyesan, the Commission said the licensing round pre-bid …
Analysts at CardinalStone project that Nigeria’s average crude oil output will rise to 1.75 million barrels per day (bpd) up from 1.67 million bpd in 2025. This was contained in their 2026 Macroeconomic Outlook titled “Indicators Align for Sustained Macro Gains,” released on Tuesday, January 6. It said the projection is supported by a sustained …
Former lawmaker, Senator Magnus Abe, has applauded President Bola Tinubu for nominating him as chairman of the board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Senator Abe, who expressed profound gratitude to the President for the appointment, said his love and support for Tinubu was not based on expectations of reward, but on the …
As the key driver of economic development, Nigeria’s energy sector has, over the years, been influenced by events, policies and actions. Nigeria's energy sector in 2026 faces several significant events, all testing whether recent reforms can translate into tangible improvements in oil and gas production, power supply, and investments in other subsectors. The major issues …
Reactions have trailed President Bola Tinubu’s approval for the major write-off of debts owed by the Nigerian National Petroleum Company (NNPC) Limited to the Federation Account, clearing over 90% of legacy obligations up to the end of 2024. A report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) presented during the November 2025 Federation Account …
The Federal High Court in Abuja has declined an ex-parte application seeking to restrain the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, and other government agencies from allocating some oil fields. Justice Emeka Nwite, sitting as a vacation judge, ruled that the respondents must first be put on notice before the court could …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to prioritise domestic refining in line with the Nigeria-First Policy agenda. The Centre made the call in a statement issued by its Chief Executive Officer, Muda Yusuf, on Thursday, December 25. “The NMDPRA must …
The newly appointed Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has formally assumed office, promising to implement robust reforms to boost activities in the upstream oil and gas sector in the country. Eyesan, who assumed office on Tuesday, December 23, pledged to work in line with the mandate of …
