Tag: NUPRC

As the 2025 licensing round gets underway, the Federal Government has reduced the signature bonus from $10m to $3m and $7m.

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled an ambitious plan to attract $10bn in new investments and unlock up to two billion barrels of crude oil reserves through the newly commenced Nigeria 2025 Petroleum Licensing Round.

The Commission Chief Executive, Gbenga Komolafe, an engineer, who made this disclosure in a statement by the Commission’s Head of media.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, effective December 1, 2025.

NUPRC Predicts Significant Increase in Nigeria's Oil Output   The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Gbenga Komolafe, has expressed optimism that Nigeria’s crude oil output will soon witness a significant boost following the completion of a new offshore production facility. Komolafe expressed...

Reps Probe $850bn Unremitted Oil, Non-Oil Export Proceeds The House of Representatives has launched an investigation into the alleged non-repatriation of Nigeria’s crude oil and non-oil export proceeds valued at over $850 billion between 1996 and 2014. Chairman of the House Ad-Hoc Committee on Pre-Shipment Inspection...