Business News of Tuesday, 4 November 2025

Source: www.thenationonlineng.net

NUPRC boss Komolafe makes list of continental experts to speak at Pan-African parliament session

Gbenga Komolafe, Chief Executive of NUPRC Gbenga Komolafe, Chief Executive of NUPRC

Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has been named among top continental experts invited to address the Sixth Ordinary Session of the Pan-African Parliament (PAP) in Midrand, South Africa, this November.

The 14-day sitting, which opened on Monday, November 3, brings together legislators, policymakers, and development leaders from across the continent to discuss governance priorities and sustainable development strategies.

Komolafe’s invitation — in recognition of his role as NUPRC Chief Executive and interim President of the Africa Forum for Petroleum Regulators and Frameworks (AFRIPERF) — is seen as a notable endorsement of Nigeria’s leadership in upstream petroleum reform under President Bola Ahmed Tinubu.

In a letter dated October 17, 2025, the PAP Bureau requested Komolafe to present a paper titled “Legislative Frameworks for Sustainable Upstream Regulation in Africa’s Oil and Gas Sector.”

The briefing will examine how sound regulatory and legislative structures can strengthen sustainability in the continent’s upstream industry, drawing on Nigeria’s experience under the Petroleum Industry Act (PIA).

PAP noted that insights from Nigeria’s recent regulatory reforms would support efforts to shape model laws that promote accountability, environmental protection, and fair revenue distribution across member states.

This marks only the second time in recent years that a Nigerian official has been invited to address a PAP plenary, a forum typically reserved for prominent reform advocates shaping Africa’s development trajectory.

Komolafe has led major regulatory advances in Nigeria’s upstream sector, including digitised licensing, stricter environmental oversight, and performance-based compliance systems — reforms credited with boosting investor confidence and strengthening production performance.

Under his leadership, crude production has risen to roughly 1.7 million barrels per day, while gas flaring has dropped to 7.16 percent — among the lowest levels recorded in two decades. The PIA’s fiscal transparency and host community provisions have also improved industry-community relations and stability.

The PAP Bureau said Komolafe’s input would enrich ongoing deliberations on aligning national energy frameworks with the African Union’s Agenda 2063 targets, particularly around inclusive growth, sustainability, and energy transition.

Analysts say the invitation reinforces Nigeria’s growing stature in continental energy governance, highlighting the Tinubu administration’s commitment to transparent, innovative, and competitive resource management.

Komolafe is expected to use the platform to deepen regulatory collaboration across Africa and support a shared drive toward a just, inclusive, and sustainable energy future for the continent.