The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed a notable increase in the country’s oil rig count, rising from just eight in 2021 to 46 as of July 2025.
Mr. Gbenga Komolafe, the Commission’s Chief Executive, shared this update during a media workshop in Abuja on Wednesday.
Komolafe explained that the rig count is a crucial measure of activity and investment in Nigeria’s oil and gas sector, representing the number of drilling rigs actively engaged in exploration and production.
“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the nation’s oil production rig has risen from eight in 2021 to 46 in July 2025,” he noted.
He attributed this steady growth largely to the 2021 enactment of the Petroleum Industry Act (PIA) and the Commission’s ongoing efforts to boost crude oil output in the country.
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Further highlighting progress, Komolafe spoke about the Project One Million Barrels initiative launched in October 2024, which has already added 300,000 barrels per day to Nigeria’s production.
This programme aims to eventually increase daily output by one million barrels.
He also pointed to three Executive Orders, 40, 41, and 42, issued by the current administration in 2024, which have helped attract investment by offering tax incentives, encouraging local participation, and speeding up contract approvals.
According to Komolafe, these reforms have led to multiple Final Investment Decisions (FIDs), bringing billions of dollars into Nigeria’s oil and gas industry.
The Commission boss clarified the role of the regulator, saying it is often misunderstood.
Unlike operators, the NUPRC oversees the industry, ensures compliance with regulations, and resolves issues to maintain fairness and transparency.
Komolafe recalled that in February 2025, the NUPRC projected the rig count would reach 50 by the end of the year, according to a report by Nairametrics.
He also shared data showing Nigeria’s oil reserves grew by 1.43% to 37.5 billion barrels between 2023 and 2024, while gas reserves increased by 0.21% to 209.26 trillion cubic feet.
Komolafe described these improvements as clear signs of a strengthening sector driven by effective regulation and sound policy.
He emphasized that Nigeria’s abundant oil and gas reserves present a vital opportunity to expand the economy and improve national development outcomes.
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Image Credit: Business Day
