NUPRC Moves to Cut Oil, Gas Operating Costs

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has intensified efforts to reduce operating costs in Nigeria’s oil and gas sector by harmonising regulatory fees and rents.

This followed a management meeting between the NUPRC and the Nigerian National Petroleum Company Limited (NNPCL) held at the commission’s headquarters in Abuja.

Speaking at the meeting, NUPRC Chief Executive, Oritsemeyiwa Eyesan, said the reforms were aimed at addressing the long-standing issue of high operating costs that discourage investment.

She explained that multiple regulatory charges across the upstream sector had created inefficiencies, stressing that harmonisation would significantly enhance Nigeria’s competitiveness.

The initiative forms part of broader reforms under the Petroleum Industry Act, with the commission pledging closer collaboration with industry stakeholders to improve operational efficiency and boost exploration.