IEA commends NUPRC’s regulatory reforms, seeks deeper collaboration

Oritsegbubemi Omatseyin

Lagos — The International Energy Agency, IEA, has commended the Nigerian Upstream Regulatory Commission, NUPRC, for embedding decarbonisation requirements into upstream project approvals, noting that the Commission’s policy of integrating green strategies into Field Development Plans, FDPs, aligns with global funding expectations for low-carbon projects.

The IEA Africa Programme Manager, Rita Maderia, said this during a courtesy visit to the NUPRC which was aimed at strengthening strategic collaboration on data integrity, energy transition, investment climate, and upstream sector governance.

The IEA reiterated that Nigeria’s gas resources remain pivotal to closing Africa’s energy access deficit, where nearly 600 million people lack electricity. The Agency emphasized that even if Africa fully develops its identified gas reserves, global emissions would rise by only 0.5%, underscoring the minimal climate impact and the continent’s right to energy development.

The IEA also expressed readiness to provide Nigeria access to select market intelligence products such as the Monthly Oil Market Report; host joint workshops on gas monetization and Africa’s energy transition; expand technical-level data exchanges with NUPRC experts; support Nigeria’s participation in high-level international energy forums.

In his remarks, the Commission Chief Executive of the NUPRC, Engr. Gbenga Komolafe, reaffirmed the Commission’s unwavering commitment to transparent regulation, investor confidence, and sustainable development in line with the Petroleum Industry Act (PIA) 2021.

He emphasized that NUPRC will maintain an open-door policy to foster continuous engagement with the IEA and other development partners as Nigeria positions itself as a leader in Africa’s energy transition and upstream investment growth.