The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on new holders of Petroleum Prospecting Licences (PPLs) to fast-track the development of their assets. This directive aims to support the Federal Government's goal of increasing crude oil production to two million barrels per day by 2027. The Commission's leadership emphasized strict compliance with the Petroleum Industry Act, approved work programmes, and financial obligations, while highlighting the necessity of responsible host community relations and high safety standards. Warnings about licence revocation under the 'drill or drop' rule and the need for Host Community Development Trusts were also issued.
The Nigeria n Upstream Petroleum Regulatory Commission ( NUPRC) has emphasized the urgent need for newly awarded holders of Petroleum Prospecting Licence s ( PPL s) to accelerate the development of their oil and gas assets.
This call was made by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, during a signing ceremony in Abuja for the second batch of winners from the 2022/2023 Mini Bid Round and the 2024 Licensing Round. The initiative is a cornerstone of the Federal Government's strategy to increase Nigeria's crude oil production to two million barrels per day by 2027, with a long-term target of three million barrels per day by 2030.
Eyesan highlighted that these licences are designed to stimulate exploration, attract fresh investments, and fast-track the development of the nation's hydrocarbon resources, thereby bolstering energy security and driving economic growth. She stressed that the new licensees must execute their approved work programmes diligently, meet all financial obligations, and fully comply with the Petroleum Industry Act (PIA), relevant regulations, and their contractual commitments.
Furthermore, she underscored the critical importance of maintaining the highest standards in health, safety, and environmental protection, along with fostering responsible and proactive engagement with host communities to ensure sustainable operations. Supporting this directive, the Executive Commissioner for Development and Production, Engr. Enorense Amadasu, urged the awardees to adhere strictly to their work programmes and commitments.
He announced that the NUPRC has initiated measures to expedite the approval of permits, aiming to improve the ease of doing business within Nigeria's upstream petroleum sector. Amadasu also assured the new licence holders of the Commission's unwavering support to facilitate the successful maturation of their assets. In a parallel statement, the Commission Secretary and Legal Adviser, Barr.
Olayemi Adeboyejo, issued a stark warning that failure to develop assets could result in licence revocation under the "drill or drop" provisions of the PIA. She strongly advised companies to promptly establish their Host Community Development Trusts (HCDTs) as mandated by law. Adeboyejo further encouraged the adoption of alternative dispute resolution mechanisms to minimize litigation, which would help cultivate harmonious relationships with host communities, other operators, and regulators, thereby creating a more stable operational environment.
The ceremony saw the presentation of Petroleum Prospecting Licences to several companies, including Biswal Oil and Gas Ltd, Dewayles International Ltd, First E&P Development Company Ltd, Panout Oil and Gas Ltd, R28 Holdings Ltd, and Hakilat Oil and Gas Consortium. It is noteworthy that another group of companies-Broron Energy Limited, Petroli Energy Marketing and Supply Limited, Sahara Deepwater Resources Limited, and Tulcan Energy E&P-had already received their licences earlier on July 8, 2026.
The collective message from the NUPRC leadership is unequivocal: these licences come with stringent responsibilities. TheCommission expects prompt and effective action to translate the awarded acreage into tangible production, aligning with national production targets. The emphasis on compliance with the PIA, particularly regarding host community development and the "drill or drop" clause, reflects a broader regulatory push for accountability and active resource development.
The NUPRC's pledge to streamline permitting processes signals a commitment to reducing bureaucratic hurdles, but the onus remains on the licensees to deliver on their promises, thereby contributing to Nigeria's economic aspirations and energy security.
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