The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed plans  to increase the active oil rigs in Nigeria’s petroleum sector from the current 36 to 50 come December, 2025, thus representsing an increase of about 38.89 per cent.

 

Also yesterday, it emerged that global oil giant, Shell Plc, paid $5.34 billion in taxes and other charges to Nigeria in 2024, more than any other country it operates in the world, a Bloomberg news report said. In the same vein, Seplat Energy Plc, one of Nigeria’s largest oil and gas explorers, has said it expects first-half revenue to exceed last year’s $1.1 billion after ramping up production this year.

 

But speaking at the just concluded 2025 Africa Energies Summit (AES) in London, United Kingdom, the Chief Executive of the NUPRC, Gbenga Komolafe, noted that from eight oil rigs in 2021, President Bola Tinubu’s recent reforms have significantly removed the bottlenecks and enhanced  investment in the country’s oil sector.