NNPC Clarifies Role in Oil Licensing Round Amid Production Growth

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has clarified its role in the recent oil licensing round, stating that it falls within the statutory mandate of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

This clarification comes after media reports raised questions about NNPC Ltd.'s management under Group Chief Executive Officer Bayo Ojulari, specifically regarding the licensing round.

According to Mr. Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd., the company operates strictly as a commercial entity and does not possess regulatory or allocative powers.

Odeh emphasized that the conduct of oil licensing rounds and allocation of oil blocks are the statutory responsibilities of NUPRC under the Petroleum Industry Act (PIA) 2021.

The NNPC Ltd. also highlighted its sustained growth in crude oil production, with average output rising from 1.60 million barrels per day (mbpd) inclusive of condensate in April 2025 to 1.67 mbpd by April 2026, representing a 6% increase.