15 May 2024

NUPRC CCE: PRESIDENTIAL BACKING SECURED FOR OIL BLOCK MARKETING

The Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Engr Gbenga Komolafe, has declared that the marketing of oil blocks has garnered staunch backing from the highest echelons of the government.

Komolafe made this assertion at the Miami International Roadshow for the 2024 licensing round, organized by the NUPRC in partnership with the Petroleum Technology Association of Nigeria (PETAN) and Zetse Advisory & Consulting.

Engr. Komolafe, who underscored the role of presidential support in attracting investors to the Nation’s oil sector, said the Licensing Round is part of concerted efforts by Nigerian authorities to revitalize the country’s oil and gas industry and foster increased investment.

According to him, the backing signals a concerted effort to provide a conducive environment for both domestic and foreign investors seeking opportunities in Nigeria’s energy market.

The Miami International Roadshow serves as a crucial platform for showcasing Nigeria’s vast potential in the petroleum sector and fostering partnerships with international stakeholders. By collaborating with stakeholders such as PETAN and Zetse Advisory & Consulting, Komolafe further affirms Nigeria’s commitment to fostering a transparent and investor friendly regulatory environment in its pursuit of energy sector excellence.