The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is making steady progress in implementing the Petroleum Industry Act, PIA, reforms, which is boosting investor confidence and repositioning the country’s upstream sector for sustainable growth.
This is according to a recent report by an industry performance evaluator, BusinessMetrics.
The report showed that NUPRC’s regulatory actions over the past year “reflect a deliberate shift toward predictable, technology-driven, and investment-friendly governance,” adding that the changes are enhancing Nigeria’s competitiveness in the global energy market.
Accordingly, the report said NUPRC’s key achievements are due to the rapid digitalization of oversight systems used to track production, metering accuracy, fiscal compliance, and environmental performance.
The report highlighted that these digital tools have reduced reporting delays, improved data integrity, and boosted the global credibility of Nigeria’s upstream data.
“The availability of reliable, real-time data is one of the strongest indicators of a trustworthy investment climate,” it stated.
“Clearer approval timelines, more structured engagements with operators, and better alignment with PIA provisions are creating a more efficient operating environment,” the evaluator said, adding that this has accelerated project timelines and reduced administrative bottlenecks, the report stated.
NUPRC’s digital reforms boosting investor confidence in Nigeria’s upstream sector – Report
