Nigeria’s Energy Future: Komolafe Showcases Investment Potential at SAIPEC 2025
LAGOS – At the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, reaffirmed Nigeria’s commitment to innovation, sustainability, and robust investment growth in the oil and gas sector.
Represented at the conference by the Executive Commissioner for Development and Production, Engr. Enorense Amadasu, Komolafe lauded the Petroleum Technology Association of Nigeria (PETAN) for hosting the event. He emphasized the pivotal role the exhibition plays in fostering regional cooperation, driving technological progress, and facilitating knowledge-sharing among industry stakeholders.
Highlighting Nigeria’s evolving energy landscape, Komolafe pointed to strategic reforms – notably the 2021 Petroleum Industry Act (PIA) – as a transformative force. The PIA has enhanced governance, transparency, and efficiency in the sector, positioning Nigeria as an attractive destination for energy investments. He noted that advancements in oil recovery techniques, comprehensive field development programs, and resource optimization strategies further underscore the country’s dedication to innovation and global energy leadership.
Addressing sustainability, Komolafe underscored critical initiatives such as the Nigeria Gas Flare Commercialization Program (NGFCP), which aims to eliminate gas flaring by 2030. He also highlighted Nigeria’s ambitious target to achieve net zero carbon emissions by 2060. These measures, combined with NUPRC’s rigorous regulatory oversight, are creating a more favorable climate for investment in Nigeria’s energy sector.
With proven reserves of 37.5 billion barrels of oil, 209.26 trillion cubic feet of natural gas, and abundant potential in renewable energy sources like solar, wind, and biomass, Nigeria is well-positioned to remain a top contender in Africa’s dynamic energy market. As the country continues to implement forward-thinking policies and embrace technological innovations, it is paving the way for a sustainable and prosperous energy future.
