IEA commends NUPRC’s regulatory reforms

The International Energy Agency (IEA) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its regulatory reforms.

Specifically, the IEA Africa Programme Manager, Rita Maderia who paid courses visit to the NUORC headquarters in Abuja commended the embedding of decarbonization requirements into upstream project approvals.

She further noted that the Commission’s policy of integrating green strategies into Field Development Plans (FDPs) aligns with global funding expectations for low-carbon projects.

She also reiterated that Nigeria’s gas resources remain pivotal to closing Africa’s energy access deficit, where nearly 600 million people lack electricity.

The Agency emphasized that even if Africa fully develops its identified gas reserves, global emissions would rise by only 0.5%, underscoring the minimal climate impact and the continent’s right to energy development.

The IEA also expressed readiness to provide Nigeria access to select market intelligence products such as the Monthly Oil Market Report and jost joint workshops on gas monetization and Africa’s energy transition.

In his remarks, the Commission Chief Executive (CCE), Engr. Gbenga Komolafe, reaffirmed the Commission’s unwavering commitment to transparent regulation, investor confidence, and sustainable development in line with the Petroleum Industry Act (PIA) 2021.

He emphasized that NUPRC will maintain an open-door policy to foster continuous engagement with the IEA and other development partners as Nigeria positions itself as a leader in Africa’s energy transition and upstream investment growth.