The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) states that the Nigeria Gas Flare Commercialisation Programme (NGFCP) has the potential to generate $2.5 billion in investment, driving growth in the country’s oil and gas sector.
NUPRC Chief Executive Officer, Gbenga Komolafe, makes this announcement at the African Upstream Forum during the 2025 Nigeria International Energy Summit (NIES) in Abuja. He highlights that the initiative will boost revenue, create jobs, and promote environmental sustainability.
As the global energy industry moves toward a low-carbon future, NUPRC is embedding sustainability into its upstream operations. Komolafe outlines key focus areas, including:
- Reducing methane and greenhouse gas (GHG) emissions
- Enhancing energy efficiency and carbon credit programs
- Encouraging investments in Carbon Capture, Utilisation, and Storage (CCUS)
- Strengthening Environmental, Social, and Governance (ESG) compliance
Through the NGFCP, Nigeria aims to reduce gas flaring, improve environmental management, and monetize gas resources to support economic development.
Komolafe also announces plans for Nigeria’s first Upstream Oil and Gas Decarbonisation Forum, set for March 2025. The event will bring together industry stakeholders, regulators, and global experts to discuss strategies for reducing carbon emissions and maximizing carbon monetization.
“This forum will provide a platform for exchanging ideas on decarbonisation strategies, advancing sustainable energy solutions, and presenting NUPRC’s framework for responsible energy development,” Komolafe says.
NUPRC remains focused on expanding Nigeria’s hydrocarbon reserves, increasing oil production, and strengthening energy security, while ensuring cleaner and more efficient operations.
Komolafe emphasizes the critical role of the oil and gas industry, which contributes 95% of foreign exchange earnings and 70% of government revenue. He also highlights NUPRC’s plans to:
- Expand domestic gas utilization to meet rising energy demands
- Develop gas infrastructure to improve supply and distribution
- Ensure all Field Development Plans (FDPs) include firm gas delivery commitments
- Encourage deep-water oil exploration through cluster development
These initiatives align with Nigeria’s goal of becoming a global leader in energy production, while transitioning toward a more sustainable and environmentally responsible future.
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