NUPRC Tops List Of Best Energy Regulator In Africa, Set To Emerge Winner

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is on course to emerging regulator of the year awarded by the Africa Energies Summit after bringing innovation into the country’s energy landscape.

The 2025 event being the 29th edition of the Big Five Awards, will take place on May 15, in London.

The achievement comes in light of the regulator’s push for a transparent and effective energy landscape in both Nigeria and the continent.

Beyond Nigeria, NUPRC under the leadership of the Commission Chief Executive, Engr Gbenga Komolafe has pushed for a common body for energy regulator’s in the continent- the African Petroleum Regulators Forum (AFRIPERF) and has donated a building to that effect.

The Africa Energies Summit, while disclosing the top five finalists, said it is proud to unveil the Big Five Top 50 Leaders, celebrating the visionaries, innovators, and institutions shaping the future of Africa’s energy sector.

It said the finalists of the Big Five Awards recognise excellence across corporate, regulatory, individual, and community contributions in an industry central to the continent’s economic growth and energy security.

The organisers said the award recognises those driving meaningful change and leading Africa’s energy journey with resilience and foresight.

For The Big 5 Industry Leaders Driving African Energy, the board in what it termed, Rhino Award, nominated the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) top of the list.

Other in the list are the Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire (PETROCI); Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) also made the list; Agência Nacional de Petróleo de São Tomé e Príncipe (ANP-STP) and SMH (Mauritania) & PETROSEN (Senegal) – Greater Tortue Ahmeyim First Oil
(supported by bp/ Kosmos).

The NUPRC has been at the forefront of transforming Nigeria’s energy landscape. In April 2025, the regulator announced that Nigeria’s crude oil and gas reserves have hit a record high of 37.24 billion barrels and 210.5 Trillion Cubic Feet (TCF) in January 2025.

The new reserves level has a life index of 64 years for oil and 93 years for gas, the NUPRC said.

The regulator has also restored the confidence of investors in Nigeria and Africa by extension.

Last year, the NUPRC launched an aggressive plan to increase Nigeria’s oil production by one million barrels per day.

NUPRC conducted successful bid rounds, which would allow increased oil production.

NUPRC’s 2024 bid round saw 25 winners emerge after a competitive bidding process. Major winners included Petroli Energy Marketing & Supply Limited (PPL 269), Sahara Deepwater Resource Limited (PPLs 270 and 271), Panout Oil and Gas Limited (PPL 300/301-CS), and TotalEnergies E&P Nigeria (PPL 2000/2001).

On AFRIPERF Komolafe said, “Aside from hydrocarbon resources, Africa is blessed with potential for green and blue hydrogen, solar, wind, biomass and critical minerals to develop clean energy technologies as well as a growing population predominated by young people representing a huge economic asset. With a population of 1.49 billion compared to the combined population of Europe and the USA estimated at 1.1 billion, Africa has the second largest population among the continents of the world.

“AFRIPERF was born out of this vision, with the primary goal of promoting collaboration, knowledge sharing, and the adoption of best practices across our continent for a secure energy future.”

Meanwhile, Africa Energies Summit listed First Bank of Nigeria among the finalists of the African Energy Financier of the Year .

Other finalists are Standard Bank, Equity Bank and US EXIM Bank.

NUPRC Tops List Of Best Energy Regulator In Africa, Set To Emerge Winner is first published on The Whistler Newspaper