The federal government has created 37 new evacuation routes for crude oil to tackle oil theft and spur production.

Mr. Gbenga Komolafe, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), disclosed this at the ongoing 2025 Nigeria Oil and Gas (NOG) Energy Week in Abuja.

He said that protection of assets was also paramount.

“With 37 new evacuation routes approved and working closely with security agencies, we are curbing theft and boosting accountability.

“Meanwhile, our drive on Domestic Crude Supply Obligation is guaranteeing feedstock for local refineries, strengthening domestic supply chains and economic resilience.

“On the social front, our HostComply platform has brought transparency and real and measurable benefits to oil-producing communities, fostering peace and a social licence to operate.

“At the same time, our full-scale digitisation efforts are transforming regulatory oversight, delivering speed, efficiency and clarity to investors,” Komolafe said.

The NUPRC boss said under the decisive leadership of President Bola Tinubu, Nigeria has been undergoing a historic energy sector transformation, with over 16 billion dollars in investment commitments secured in two years.

“The Petroleum Industry Act (PIA) of 2021 laid the foundation for this reform. The 2024 Executive Orders – 40 on fiscal incentives, 41 on local content, and 42 on cost efficiency and contract timelines – have catalysed massive investment inflows.

“Over 16 billion dollars has been committed in just two years,” Komolafe said.

He explained that the influx of capital was a direct result of far-reaching reforms and bold policy moves designed to reposition the sector for energy security, sustainability, and economic resilience.

He added that oil and gas had continued to supply more than 50 per cent of global energy needs, a figure expected to hold through 2050.

He said sustaining the demand would require 640 billion dollars in annual upstream investment through 2030, over four trillion dollars cumulatively.

“Failure to meet this demand will threaten global stability. Let it be said: the global demand remains strong. Nigeria and Africa cannot afford to ignore this,” he said.

Through the one million barrels initiative, he said the NUPRC was scaling up Nigeria’s production through the reawakening of dormant fields, acceleration of approvals, and enhancement of upstream efficiencies.

He said the initiative, which was inaugurated in 2024, targeted an increase from 1.46 million to 2.5 million barrels per day (bpd) by 2026.

“With 1.7 million bpd already achieved, the strategy is yielding results.”

He said while oil and gas remained Nigeria’s economic mainstay, contributing nearly 90 per cent of Forex earnings and 70 per cent of national revenue, the NUPRC was determined to entrench climate responsibility at the core of its operations.

According to him, while Nigeria has pledged to achieve net-zero emissions by 2060, it should be known that the NUPRC is turning that ambition into reality. (NAN)