The Good Governance Index Group, a civil society organisation, has publicly endorsed the leadership of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd), citing measurable improvements in transparency and institutional discipline in the oil and gas sector. The group's Executive Director, Dr Olayemi Isaac, addressed journalists at a press conference in Abuja on Monday, August 10, highlighting the NUPRC's recent licensing round as evidence that petroleum assets can be allocated through a competitive, rules-based process.
NUPRC Licensing Round Attracts 143 Companies
According to a statement made available to Legit.ng, a total of 143 companies submitted 200 bids for 37 of the 50 oil and gas blocks on offer. The blocks span the Niger Delta, Benin Basin, Anambra Basin, Chad Basin, and Benue Trough. The group described the interest in frontier basins as particularly significant for future exploration.
Speaking on behalf of the group, a spokesperson identified as Idoko said the 31 companies that emerged successfully from the process represented more than a simple allocation of acreage.
"The licensing round represents an important test of Nigeria's commitment to transparency in the management of its petroleum resources. From the participation of investors to the evaluation of bids and the involvement of relevant government institutions, the process showed that petroleum assets can be administered through a framework that is competitive, predictable and open to scrutiny," he said.
Group Commends NUPRC Chief Executive Eyesan
The group commended NUPRC Chief Executive Oritsemeyiwa Eyesan for the commission's insistence that successful bidders must pay applicable signature bonuses and demonstrate the operational and financial capacity to develop their assets. Idoko pushed back against calls for Eyesan's removal, saying any allegations relating to the licensing process should be examined through proper institutional channels rather than public pressure.
This endorsement follows a similar commendation from the Centre for Energy Policy, Research and Strategic Development (CEPRSD), whose Executive Director, Dr Cletus Okpe, described the 2025 licensing round as transparent, structured, and professionally managed.
Group Defends NNPC's N7.13 Trillion Expenditure
On NNPC Ltd, the group said the N7.13 trillion energy security expense recorded in the company's 2024 audited accounts had been misread in public discourse.
"The discussion around the N7.13 trillion energy security expenditure must be guided by the contents of the audited accounts and the legal framework under which the expenditure was incurred. The records explain that energy security costs included obligations arising from petroleum supply interventions, exchange-rate differentials and the protection of critical oil and gas infrastructure," Idoko said.
The group also pointed to NNPC's reported crude oil production growth, from 1.60 million barrels per day in 2025 to 1.67 million barrels per day in April 2026, as a performance indicator that should factor into any fair assessment of the company.
Vote of Confidence in NNPC CEO Bayo Ojulari
The group extended a vote of confidence to NNPC Group Chief Executive Bayo Ojulari and urged civil society organisations to engage both institutions directly, including through the Freedom of Information Act, rather than relying on unverified claims aired through media appearances.
The press conference underscores a growing recognition of the need for evidence-based scrutiny of Nigeria's energy sector governance, with the Good Governance Index Group positioning itself as a proponent of institutional accountability and transparency.
