Global Watchdog Applauds Nigeria's NUPRC $10bn Licensing Round for Transparency and Investment

The Global Energy Transition Institute (GETI) lauded Nigeria's National Upstream Petroleum Regulatory Commission (NUPRC) for its $10 billion licensing round in the oil and gas sector, signaling a shift towards transparency and digitalization. Dr.

Jonathan Whitfield, the Executive Director of GETI, commended the initiative as a global model for governance standards. The licensing round covers 50 oil and gas blocks, aiming to attract fresh investments and increase Nigeria's reserves by two billion barrels over the next decade.

The process emphasizes transparency, investor confidence, and public disclosure, setting a benchmark for regulatory reforms in the African oil sector.