Presidential backing secured for marketing of oil blocks, says Komolafe

Oritsegbubemi Omatseyin

Lagos — The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr. Gbenga Komolafe, has declared that the marketing of the nation’s oil blocks has gained firm backing from the highest level of the government.

Komolafe made the assertion at the Miami International Roadshow for the 2024 licensing round, organised by the NUPRC in partnership with the Petroleum Technology Association of Nigeria, PETAN, and Zetse Advisory & Consulting.

Engr. Komolafe, who underscored the role of presidential support in attracting investors to the nation’s oil sector, said the licensing round is part of concerted efforts by the Nigerian authorities to revitalise the country’s oil and gas industry and foster increased investment.

According to him, the backing signals a concerted effort to provide a conducive environment for both domestic and foreign investors seeking opportunities in Nigeria’s energy market.

The Miami International Roadshow serves as a crucial platform for showcasing Nigeria’s vast potential in the petroleum sector and fostering partnerships with international stakeholders.

By collaborating with stakeholders such as PETAN and Zetse Advisory & Consulting, Komolafe further affirms Nigeria’s commitment to fostering a transparent and investor-friendly regulatory environment in its pursuit of energy sector excellence.