Energy Regulator Applauded for Transparent Fund Management
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has received strong endorsement from industry watchdogs for its transparent and responsible management of the Frontier Exploration Fund. The Oil and Gas Watchdogs Network has publicly commended the Commission's disciplined approach to utilizing the fund strictly according to the provisions outlined in the Petroleum Industry Act.
Addressing Public Concerns and Clarifying Fund Usage
In a statement released in Port Harcourt on November 16, 2025, the coalition emphasized that recent public discussions about the Frontier Exploration Fund necessitated clear explanations about its management. The group confirmed that under the leadership of Chief Executive Gbenga Komolafe, the NUPRC has demonstrated strong commitment to accountability and ensured all spending aligns with statutory objectives.
The Network specifically highlighted that every allocation from the Fund has been directed toward derisking new exploration territories and supporting early-stage exploration activities. This disciplined regulatory approach comes at a crucial time when global investment in fossil fuel exploration is experiencing significant decline.
Strategic Deployment and Industry Validation
According to the statement signed by Comrade Boma Kenule, the Network pointed to ongoing exploration work across various frontier basins as concrete evidence of proper fund deployment. These activities include comprehensive seismic data collection, exploratory drilling operations, and detailed geological studies designed to expand Nigeria's oil and gas reserves while supporting long-term energy security.
The coalition revealed that its assessment is based on field operator reports and consultations with technical experts, all of whom have acknowledged the NUPRC's methodical approach. The leadership under Komolafe has successfully restored credibility to the frontier exploration framework by implementing performance benchmarks and maintaining consistent engagement with host communities and state governments involved in exploration projects.
This systematic approach has significantly helped rebuild investor confidence in exploration activities at a time when expanding reserves is vital for sustaining Nigeria's production capacity over the next decade.
Boosting Investor Confidence and Future Outlook
The Network stressed that frontier basin exploration requires substantial capital commitments and technical precision. The Commission's careful handling of the Fund has ensured that investor resources are directed to priority projects, which explains why numerous stakeholders continue to trust the NUPRC to fulfill its regulatory mandate effectively.
The coalition has urged the Federal Government to strengthen the Commission's capacity and independence, noting that effective regulation is essential for preventing mismanagement and maintaining transparency across the entire oil and gas industry. They also appealed to media organizations and political commentators to avoid mischaracterizing official statements, warning that misleading narratives could undermine the significant progress achieved so far.
The Oil and Gas Watchdogs Network reaffirmed its commitment to monitoring regulatory compliance throughout Nigeria's oil and gas sector, promising to continue highlighting institutions that uphold transparency, protect public resources, and contribute to the nation's long-term energy security objectives.
