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MR GBENGA KOMOLAFE
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed allegations of irregularities in the 2024 oil block licensing round, asserting that the process strictly adhered to the Petroleum Industry Act (PIA) 2021 and its licensing guidelines.
The Nigerian Government revealed that the total annual upstream capital expenditure in Nigeria’s oil and gas industry decreased from 27 billion dollars in 2014 to less than six billion dollars in 2022.