EGA Commends NUPRC for Restoring Investors’ Confidence in Oil Sector

By Diafa Doubra,

The Energy Governance Alliance (EGA) has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for playing a key role in restoring the confidence of International Oil Companies (IOCs) in Nigeria’s energy sector.

Speaking at a stakeholders’ forum in Abuja, the group noted that NUPRC’s recent reforms and transparent regulatory measures have created a more attractive environment for investors who had previously scaled down operations due to policy inconsistencies and insecurity in oil-producing areas.

According to the EGA, the commission’s efforts at promoting accountability and efficiency are already yielding results, with renewed commitments from IOCs to expand operations and invest in new exploration projects.

The alliance urged the federal government to sustain the current momentum, stressing that a stable and transparent regulatory framework is critical to boosting crude production, attracting foreign capital, and achieving energy security.

The commendation comes at a time when Nigeria is seeking to raise its oil output to meet OPEC quotas and reduce its reliance on costly fuel imports.