The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a major rebound in oil and gas exploration activities, with active rig count rising from eight in 2021 to 69 as of October 2025.
According to the Commission’s Head of Media and Strategic Communication, Eniola Akinkuotu, the increase reflects renewed investor confidence and growing stability in Nigeria’s petroleum industry. “The number is expected to increase even further in the coming months,” he said, noting that the growth aligns with President Bola Tinubu’s directive that Nigeria is open for business under the Renewed Hope Agenda.
Since its establishment, NUPRC has enforced the “Drill or Drop” policy to ensure that unexplored acreages are relinquished, in line with the Petroleum Industry Act 2021. The Commission said over 400 dormant oil fields have been identified, compelling inactive operators to resume exploration.
It added that 19 of 24 new regulations have been gazetted to promote transparency and an investor-friendly climate. The agency also approved multi-billion-dollar divestments from companies including NAOC to Oando Energy Resources, Equinor to Chappal Energies, Mobil Producing Nigeria to Seplat Energies, and Shell to Renaissance Africa Energy — moves aimed at deep offshore expansion.
Under the Nigerian Gas Flare Commercialisation Programme, awards for flare sites have been completed, expected to attract $2.5 billion in investment and end routine flaring.
The Commission reported that Host Community Development Trusts have remitted N122.34 billion and $168.91 million, funding 536 community projects such as schools, health centres, and roads. Crude oil losses, it said, have dropped by 90 percent from 102,900 barrels per day in 2021 to 9,600 bpd in September 2025.
The NUPRC credited these gains to tighter regulation, enhanced security collaboration, and the introduction of the Upstream Measurement and Advanced Cargo Declaration Regulations to ensure transparency in hydrocarbon accounting.
It also highlighted a fully digital licensing round that eliminated political interference and achieved global recognition for transparency, validated by the Nigeria Extractive Industries Transparency Initiative.
 has reported a major rebound in oil and gas exploration activities, with active rig count rising from eight in 2021 to 69 as of October 2025.){kind=link}