NUPRC @5: My friend got oil block without political connections – Shettima

Vice President Kashim Shettima announced that Nigeria’s oil blocks are now awarded through open and competitive processes, sharing that a friend of his secured an upstream asset without any political connections. The VP’s statement underscored the transparency of reforms implemented in Nigeria’s upstream oil sector. Speaking at the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, Shettima reiterated the Federal Government’s commitment to attracting long-term hydrocarbon investment and improving crude oil production.

The NUPRC, established in 2021, has been instrumental in conducting licensing and bidding processes for oil blocks, including the 2024/2025 licensing round. The reforms have helped restore investor confidence and increased production, which was once lost to theft and vandalism. Shettima also highlighted the importance of involving host communities, with over 170 communities benefiting from projects in education, healthcare, and other sectors.

The Federal Government is addressing high costs and long contracting processes to make Nigeria a more attractive destination for investors. Shettima urged the NUPRC to maintain transparency, predictable timelines, and work closely with other government agencies to eliminate regulatory conflicts.