In a recent interview, Mr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), shared his perspectives and insights on the current situation and future prospects of the Nigerian petroleum sector. Speaking at a press event held in Lagos over the weekend, Komolafe shed light on the achievements, challenges, and initiatives of the regulatory body in ensuring efficiency and sustainability in the industry.
1. Mr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), recently shared his insights on the state and future of the Nigerian petroleum sector.
2. Komolafe spoke at a press event in Lagos, discussing the achievements, challenges, and initiatives of the NUPRC.
3. He highlighted the upstream petroleum sector's potential as a significant contributor to Nigeria's economic growth.
4. Komolafe emphasized the commission's efforts towards streamlining operations to meet international standards and fostering an investment-friendly environment for both local and foreign operators.
5. He also expressed the NUPRC's commitment to ensure the growth and development of the petroleum sector in line with the National Development Plan.
According to Mr. Komolafe, approximately 60% of Nigeria's daily crude oil production, which is currently around 2 million barrels, is driven by international oil companies.
Mr. Komolafe disclosed this important information at a meeting held in Lagos over the weekend. He discussed the current state and future prospects of the Upstream Petroleum sector, underlining its potential as a driving force for Nigeria's economic growth. He emphasized the ongoing efforts to streamline its operations to meet international standards while fostering an investment-friendly environment for both local and foreign operators. His presentation exemplified the commission's commitment in ensuring the sector's growth and development, consistent with the National Development Plan.