The African Energy Policy Alliance, AEPA, says the transparent handling and timely release of the Frontier Exploration Fund to the Nigerian National Petroleum Company Limited, NNPCL, by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is the model required for regulatory industry synergy on the continent.
The energy group said such diligence is what Africa needs as countries seek to unlock frontier basins from Uganda to Namibia, urging countries in the bloc to reform their petroleum governance structures to study Nigeria’s approach.
In a statement on Thursday, Dr Randy Amuche, Executive Director of the policy group, said the Commission’s clarification, confirming the approval and release of over $185 million and N14.9 billion to the NNPCL, reinforces NUPRC’s commitment to accountability.
It noted that the Commission’s prompt dismissal of claims that it withheld the fund demonstrates a maturing regulatory culture grounded in evidence-based processes.
“The NUPRC has once again demonstrated exceptional regulatory discipline. By explaining that the Frontier Exploration Fund is domiciled with the Central Bank of Nigeria (CBN) and not with the Commission, and that disbursement follows rigorous evaluation of NNPCL’s work programmes, the NUPRC has set a continental benchmark for transparency,” the statement reads.
Amuche also noted that the decision to contract a private entity to independently evaluate NNPC’s claims before approving payments reflects financial integrity and best-practice oversight.
“From the initial release of N14.9 billion and $45 million, to the final tranche of $140 million approved on November 27, the NUPRC demonstrated procedural discipline that boosts investor confidence. Such diligence is precisely what Africa needs as countries seek to unlock frontier basins from Uganda to Namibia.
“What we are witnessing between the NUPRC and NNPC is a productive, functional relationship rooted in mutual respect for institutional mandates. The regulator demands evidence; the national oil company meets the requirements; and both work together toward expanding exploration in frontier basins,” he observed.
Amuche noted that credible, transparent regulatory practices remain central to improving global investor perception of Africa’s energy markets.
“For Africa to compete and grow, we need institutions that are predictable, professional and transparent. The NUPRC’s handling of the Frontier Exploration Fund is a strong demonstration of how regulatory integrity strengthens the entire energy ecosystem,” he said.
AEPA also encouraged stakeholders to rely on verified information and avoid “unsubstantiated claims” that undermine trust in public institutions.
The continental organisation reaffirmed its support for Nigeria’s ongoing efforts to strengthen exploration funding, deepen frontier basin development, and expand domestic reserves in line with global energy transition realities.
“Nigeria is setting the pace. Properly supervised frontier exploration, as currently driven by the NUPRC under Engr. Gbenga Komolafe, is essential not just for national growth but for Africa’s collective energy future,” he added.
NUPRC’s $185m frontier fund release, regulatory discipline Africa must emulate – AEPA
