By Olisa Mbakwe
Like a master builder laying the foundation for a towering skyscraper, Engr. Gbenga Komolafe is constructing a new framework for Nigeria's oil and gas industry. With each strategic move, he's adding a new layer of strength, transparency, and innovation, transforming the sector into a robust and thriving entity. As the head of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Komolafe is the driving force behind this ambitious project, and his vision is taking shape with remarkable speed and precision.
Innovation is one of the buzzwords that has gained strong radiation in the world of development and growth. Its strength lies in the fact that for anyone to stay ahead of the competition, in these contemporary times, remain relevant and improve on the status quo, there is a critical need to innovate. This does not mean that in all cases, critical thinking and innovative strategic solutions work.
In all cases, the ability to strategically conceive, create and innovate must be matched by the ability to combine and extend the frontiers of technological knowledge with the capability and capacity to overcome unexpected problems imaginatively. This is the story of the NUPRC led by Engr. Komolafe Gbenga. Ever since coming on board, he has devised several innovative ways of transforming and bringing sanity to the Agency.
A highly pragmatic and dynamic professional, his foresightedness created radical transformational changes in the major areas of reducing crude oil theft, fostering transparency, increasing production capacity, enhancing investor confidence, and ensuring uninterrupted crude supply to local refineries. His introduction of the non-kinetic means of curbing oil thefts greatly reduced the menace to 5,000 BOPD and stabilized production to a consistent 1.7 million BOPD with high possibility of an increased production of 1 million BOPD by December 2026 under the Project 1 MMBOPD initiative, while collaborating with operators, service providers, financiers, and host communities.
His deliberate to rewrite the performance of the Agency and strategically raise the bar of Nigeria’s oil and gas potentials in the global rating has led to the position the country now holds as African’s largest gas reserve holder and the second-largest oil reserve holder of the continent, while its oil reserve is estimated at 37.5 billion barrels, with its gas standing at 209 trillion cubic feet (TCF).
In a demonstration of outstanding leadership and superlative performance, Engr. Gbenga grew oil production in Nigeria to an excellent average of 1.75 billion standard cubic feet (SCFD) on a daily average and an enviable gas production rate of 7 billion standard cubic feet per day (SCFD).
In order to foster transparency and enhance strong collaboration in the area of regulation, Engr Gbenga relying on the instruments of the 2011 Petroleum Industry Act (PIA), the 10-year Regulatory and Corporate Strategic Plan (2023 – 2033) and the 2024 Regulatory Action Plan, which promotes strategic industry reforms, Engr. Komolafe fostered turnaround in several areas such as increasing oil and gas reserves, decarbonization within the upstream operations, enhancing cost efficiency, maintaining stability and general confidence building with the host communities, and importantly bringing to an appreciable level the carbon footprint of the oil and gas activities.
In demonstration of inclusivity and in order to foster global participation, he launch a licensing Round, an initiative that brought in 24 oil and gas assets to international and local investors further amplifying Nigeria’s energy potentials. Engr. Gbenga initiated the Nigeria Gas Flare Commercialization Programme (NGFCP) and the Carbon Credits Earning Framework, both are flagship project aimed at not just eliminating the challenges of gas flaring but also reducing methane emissions, encourage carbon capture technologies, monetize the decarbonization strategy and also remain at the vanguard of the country’s energy transition and also promote sustainable energy practices.
Engr. Gbenga also established a robust Host Community Engagement and Regulatory Transparency Committee, this committee brought about the 137 Host Communities Development Trust (HCDTs), and the establishment of an Alternative Dispute Resolution Centre (ADRC), which has been pivotal in subsequent interface, conflict resolutions, and the observed reduction in the disruption of oil and gas operations within the region.
Engr. Gbenga has created an ambience supportive of a growing investment and a robust policy direction coupled with a consistent record of implementation which has assured the global industry his determination to lead one of the highest oil and gas industrial hub in the world. Through strengthening of strategic alliance engagement of various oil producers and collaboration, he has been able to reduce carbon emission and assured the supply of domestic crude. He has also been able to boost an industry wide collaboration on deep play exploration and deepen financial collaboration.
These sundry reforms coupled with a strong fiscal regulation in areas such as fiscal oil price determination, hydrocarbon metering, and cargo declaration systems, have led to consistent and rising financial growth and the blocking of revenue leakages, and consequent mitigation against oil theft, which has seen the industry surpassing its 2024 revenue projection with an internally generated revenue of over 84 percent.
Engr. Gbenga is setting the pace through innovative reforms and significant collaborative deft moves, integration, and inclusivity, thereby making the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Africa’s leading regulator and promoting sustainable value creation from the country’s petroleum resources for shared prosperity.
Through Engr. Gbenga’s impact and deliberate transformative leadership style, NUPRC has restored sanity within the oil and gas sector. In keeping to his promise that he will restore sanity to the industry during his appearance at the Senate, Engr Gbenga Komolafe has not only restored sanity but has gone ahead to build the needed confidence in the industry, thereby attracting foreign direct investment and various local and international players into the industry.
Today, many of the multi-nationals that had signed to leave the country because of the lack of confidence in the sector are al having a rethink now. These companies are all contemplating something new and different now, as they have seen the fortune they desire in the industry. Indeed, Engr Gbenga Komolafe is writing a story of stability, honesty and fruitfulness in the NUPRC, making the industry one of the most competitive global players and setting Nigeria as a continental pacesetter in oil and gas production.
Mbakwe an oil and gas project manager wrote this piece from Port Harcourt..
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