BY JANE ROGER, LAGOS
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has pledged to support newly awarded holders of Petroleum Prospecting Licences (PPLs) from the 2022/2023 and 2024 licensing rounds, targeting an additional 250,000 barrels of oil per day from the 22 awardees within the next five years.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Tuesday, October 20, 2026, in Lagos during a two-day onboarding workshop organised for the new licence holders.
The workshop, themed “From Award to Production: Delivering Nigeria’s Upstream Potential Under the Petroleum Industry Act, 2021,” was designed to guide the awardees through the processes required to develop their assets and translate their licences into actual oil production.
Speaking with journalists on the sidelines of the event, Eyesan explained that the Commission introduced the onboarding programme to equip the new licence holders with the necessary knowledge and guidance to navigate the regulatory framework and accelerate production.
“For this set of awardees, we are expecting nothing less than 250,000 barrels per day in the next five years at least from the 22 awards,” she said.
Eyesan added that Nigeria remained on course to achieve its target of producing three million barrels of oil per day by 2030, stressing the importance of bringing new assets into production to boost national output.
She urged the new awardees to learn from the experiences of previous licence holders, particularly their successes and mistakes, to avoid setbacks and improve the pace of project development.
According to her, the onboarding initiative would help the awardees understand the expectations of the regulator, comply with applicable requirements and adopt effective strategies for moving from licence awards to commercial production.
The NUPRC chief also reiterated the Commission’s commitment to ensuring that awarded oil and gas assets are actively developed rather than left idle, in line with the Federal Government’s efforts to maximise the country’s petroleum resources.
She further restated October 31, 2026, as the deadline for the revocation of idle oil and gas licences under the drill-or-drop provision of the Petroleum Industry Act (PIA) 2021.
The provision is intended to discourage licence holders from retaining petroleum assets without undertaking the required exploration and development activities.
The latest move underscores the Commission’s focus on improving upstream investment, accelerating field development and increasing Nigeria’s oil production capacity through the effective utilisation of awarded petroleum licences.
The expected 250,000 barrels per day from the 22 awardees would provide a significant boost to national production if the projects are developed and brought on stream as projected.
Nigeria’s ambition to reach three million barrels of oil per day by 2030 will depend partly on the timely development of new fields, sustained investment and strict compliance with the regulatory framework governing the upstream petroleum sector.
