Gbenga Komolafe: Licences issued by NUPRC have reduced bureaucracy delays in energy sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has issued licences and permits, significantly reducing bureaucratic delays and improving operational efficiency in the sector.

Gbenga Komolafe, the commission’s chief executive officer (CEO), spoke when he was visited by a delegation from the Independent Petroleum Producers Group (IPPG).

In a statement on Thursday, the commission said the meeting served as an opportunity for the IPPG to formally express its appreciation to the NUPRC for the agency’s critical role in facilitating the recent divestment of assets by international oil companies (IOCs).

Speaking during the visit, the NUPRC boss said the agency has automated regulatory processes.

Komolafe reiterated the NUPRC’s commitment to fostering a business-friendly environment, outlining key policies implemented since the enactment of the Petroleum Industry Act (PIA).

He said the policies are the automation of regulatory processes, “such as granting of licenses and permits which has significantly reduced bureaucratic delays and improved operational efficiency across the sector”.

Komolafe also discussed the ‘drill or drop’ policy, which requires operators to either commence production within a set timeframe or relinquish their licences.

He said the policy is aimed at revitalising the oil sector, optimising asset utilisation, and increasing government revenue.

During the meeting, the IPPG reaffirmed its commitment to the commission’s ‘project one million barrels incremental’ initiative’, designed to enhance Nigeria’s daily crude oil production.

The group also highlighted its focus on supporting both oil and gas development in alignment with national objectives.