The Forum of Retired Oil Workers has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its bold reforms, transparency drive, and renewed investor confidence under the leadership of its Chief Executive, Gbenga Komolafe.
In a statement on Monday signed by its president, Richard Jackson, the forum described Komolafe’s leadership as “visionary, reform-driven, and deeply aligned with President Bola Tinubu’s agenda to reposition the oil and gas sector for sustainable growth and global competitiveness”.
The group said the series of policy initiatives and operational reforms introduced by the NUPRC since the enactment of the Petroleum Industry Act (PIA) have revived investor trust, improved production output, and repositioned Nigeria as an attractive energy investment hub in Africa.
“The Commission’s approach under Engr. Gbenga Komolafe represents a decisive shift from bureaucracy to performance. By focusing on regulatory clarity, transparency, and accountability, the NUPRC has restored credibility to the upstream sector and demonstrated that Nigeria remains open for responsible and profitable investment,” the statement reads.
The forum noted that the 28 Field Development Plans (FDPs) approved by the Commission in 2025 alone, projected to deliver 600,000 barrels of oil per day and more than 2 billion standard cubic feet of gas daily, underscore a strategic turnaround for the industry.
“These are not mere figures; they represent renewed life in an industry once bogged down by uncertainty and underinvestment. An additional 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas unlocked in one year shows that the reforms are not cosmetic; they are delivering measurable results,” Jackson added.
According to the forum, Komolafe’s regulatory model has not only driven production but also attracted significant capital inflows, with over $18 billion in new investment commitments recorded this year.
The retired oil workers said this scale of investor response was proof that the Commission’s transparent licensing rounds and fiscal stability measures were being recognised globally.
“From the 2022 Petroleum Prospecting Licences to the 2024 deep offshore bid round, every process has been transparent and benchmarked to international standards. That is the type of leadership and accountability we had always hoped to see in Nigeria’s oil industry,” the group observed.
The forum particularly praised the Commission’s collaboration with host communities and its emphasis on decarbonisation and energy transition through measurable frameworks that balance economic growth with environmental responsibility.
“Komolafe has brought a pragmatic approach to energy transition; one that recognises the need for cleaner energy while protecting Nigeria’s economic stability,” Jackson said.
“The Decade of Gas initiative, complemented by the Commission’s Decarbonisation Framework, shows that the regulator understands both the global conversation and local realities.”
The retired oil professionals also lauded the Commission’s enforcement of 24 new regulations aligned with the PIA, describing them as “a solid foundation for a predictable, investor-friendly operating environment”.
“Rig activity rising from just 8 in 2021 to 70 today, alongside rising oil output to 1.8 million barrels per day, are strong indicators that the NUPRC’s strategies are working,” the statement said.
The forum urged the Commission to sustain its reform momentum, deepen stakeholder engagement, and continue to hold operators accountable to global safety, governance, and transparency standards.
“We believe the NUPRC is writing a new chapter in Nigeria’s oil and gas history. Under Komolafe’s stewardship, the sector is becoming more efficient, responsible, and profitable. That is the best tribute to decades of work by Nigerians who built this industry,” the statement added.
