At the ongoing Africa Oil Week in Accra, the Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan was part of a panel discussion that centered on the Africa Regulators and NOC Leadership debate.
According to Eyesan, the Petroleum Industry Act, 2021 provided better clarity and stability in the sector especially for regulators and operators in Nigeria
She said following the delayed passage of the PIA, Nigeria has now begun to see inflow of investments and an increase in production.
Eyesan noted that in June 2026, crude oil production (excluding condensates) reached 1.56 mbpd, a 74-month high, as Nigeria met 104% of its OPEC quota.
For African countries to witness investment inflows, Eyesan noted that Regulators must remain flexible and continually assess where global capital is moving.
“Regulation cannot be static in a rapidly changing market,” said Eyesan, who doubles as the Chairperson, African Petroleum Regulators Forum @AFRIPERF
In her concluding thought, she noted that Capital is mobile; the winning jurisdictions are those that combine certainty with adaptability.
