NNPC and NUPRC Hailed for Boosting Oil Production and Attracting Investment

The Citizens Forum for Energy Accountability and Development (CFEAD) has praised the Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for their efforts to boost oil production, attract investment, and restore confidence in Nigeria's petroleum sector.

According to CFEAD, recent figures announced by NNPC Group Chief Executive Officer Bayo Ojulari and NUPRC Commission Chief Executive Oritsemeyiwa Eyesan indicate that ongoing reforms are beginning to yield measurable results. The group highlighted the reported $20 billion worth of gas sale and purchase agreements secured by NNPC within the past year, describing it as an important signal to investors.

The agreements cover 1.29 billion standard cubic feet per day of long-term LNG feed gas and 750 million standard cubic feet per day of domestic industrial gas supply to DFL FZE and Dangote Refinery, with additional transactions reportedly in the pipeline.