Investors’ confidence back in Nigeria’s oil sector – Lokpobiri on NUPRC regulatory feat

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said investor confidence is back in Nigeria’s oil sector.

This comes as Lokpobiri lauded the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) regulatory feat in the last four years.

He disclosed this when the Chief Executive of NUPRC visited the minister on Tuesday.

The Minister commended NUPRC for changing the narrative in upstream activities by restoring confidence in line with the Petroleum Industry Act (PIA), 2021, which he said is evident in the rising rig count.

Lokpobiri said, “Let me take the opportunity to congratulate you (Komolafe) and members of the team for an excellent job over the last four years.

On his part, the NUPRC boss commended the minister for his leadership and support in the regulatory activities of the Commission.

“Honourable Minister, we have done this diligently in collaboration with my team. We have been able to record a number of high-impact achievements, restore investors’ confidence and stabilise the industry regulatory-wise,” he stated.