The Federal Government has gazetted 21 new regulations for Nigeria’s oil and gas upstream sector in a sweeping move to unlock investments, streamline operations, and align industry practices with both national and global priorities.

The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, made this known while delivering a goodwill address at the 48th edition of the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition held in Lagos.

According to Komolafe, the new regulatory frameworks developed under the Petroleum Industry Act, 2021, are designed to offer clarity, attract capital, and promote accountability across exploration and production operations.

“Since the enactment of the Petroleum Industry Act, 2021, the commission has so far gazetted 21 key regulations, with others at various phases of development. These regulations provide the clarity required to support investment, streamline administration, and align upstream operations with national and global priorities,” he said

Among the regulations highlighted by the NUPRC boss are the Upstream Petroleum Measurement Regulations, which promote transparency and accountability through technological deployment for accurate production tracking, and the Gas Flaring, Venting and Methane Emissions Regulations aimed at reducing emissions and enforcing decarbonisation.

Other key regulations include Host Community Development Regulations, Domestic Gas Delivery Obligation Regulations, Upstream Petroleum Safety Regulations, and Decommissioning and Abandonment Regulations.

Komolafe stressed that the NUPRC is “not just focused on compliance,” but is repositioning as an enabling regulator capable of fostering innovation and sustainable value.

“These instruments demonstrate our commitment to creating a regulatory environment that fosters innovation, secures long-term value, and ensures the responsible stewardship of Nigeria’s upstream resources,” he said.

In a related effort, he stated that the commission is also implementing a seven-pillar Decarbonisation and Sustainability Blueprint, and recently achieved a peak production of 1.8 million barrels per day.

The upstream regulator called on all operators and stakeholders to engage with the regulations, align their operations, and support the commission’s drive for an efficient, transparent, and globally competitive petroleum sector.

Speaking, the Chairperson of SPE, Nigeria Council, Amina Danmaladi, while welcoming participants to the conference, urged them to seize the opportunity to fully immerse themselves in the “rich and rewarding experience of this conference.”

She announced that the SPE Nigeria Annual International Conference and Exhibition 2026, themed ’Thriving in the Evolving Global Energy Landscape: Collaborating Growth and Resilience’, would start on August 3, 2026.(PUNCH)