At the 2025 Africa Energies Summit in London, Nigeria emerged as a central force in what many are calling a pivotal moment for Africa’s energy trajectory. In a powerful and pragmatic speech, Engr. Gbenga Komolafe, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), outlined an ambitious roadmap to position Nigeria—and Africa—as a driving force in sustainable energy development.

With high-level attendees including global oil giants, financiers, policymakers, and development partners, the summit was more than a convergence of stakeholders—it was a moment of reckoning. As the world races toward decarbonization, Africa finds itself navigating a delicate balance between climate action and the urgent need for industrialization, energy access, and poverty reduction. Nigeria’s message was clear: Africa must be allowed to transition on its own terms—fairly, inclusively, and strategically.

Komolafe’s address was timely, data-driven, and resonant. Referencing projections such as BP’s Energy Outlook 2024, he emphasized that hydrocarbons will still account for over half of global energy consumption by 2050. Meanwhile, Africa’s energy demand is expected to rise 30% by 2040, fueled by rapid population growth and development needs.

While global voices advocate for swift divestment from fossil fuels, Nigeria’s position—articulated with nuance and conviction—is that hydrocarbons are essential to financing the continent’s future. Echoing leaders like António Guterres, John Kerry, and Fatih Birol, Komolafe stressed that climate goals must be balanced with energy security and economic progress. Quoting the UN Secretary-General, he said: “The climate emergency is a race we are losing, but it is a race we can win”—provided there is access to capital, opportunity, and reliable, affordable energy. Nigeria, he declared, is prepared.

Amid global volatility and oil market uncertainty, Nigeria has been steadily reshaping its upstream sector. Anchored in transparency and competitiveness, recent licensing rounds—including the 2022 PPL Awards, the 2022 Mini-Bid Round, and the 2024 Licensing Round—have reestablished Nigeria as a top investment destination. These were all governed by the Petroleum Industry Act (PIA), supported by high-quality geoscience data, and aimed at maximizing investor returns.

But the true game-changer has been Nigeria’s data-driven transformation of its upstream sector. Through partnerships with TGS-PetroData and other data providers, the NUPRC has launched one of Africa’s most ambitious subsurface data campaigns. Over 11,000 square kilometers of 3D seismic data have been acquired under the expansive 56,000-square-kilometre Awalé Project. Together with a modernized National Data Repository containing more than 10,000 well records, this seismic renaissance is reshaping exploration confidence across Nigerian basins.

Institutional reform has complemented technical progress. Under President Bola Ahmed Tinubu’s leadership, Nigeria has restructured entry costs, streamlined contracting procedures, and revamped fiscal regimes—all to boost investor confidence. These regulatory reforms aren’t just efficient—they’re transformative.

The impact is measurable. Since 2021, Nigeria’s rig count has surged from eight to thirty-six, with projections reaching fifty by the end of 2025. Crude oil production has risen to 1.78 million barrels per day from 1.46 million in October 2024. These gains stem from the NUPRC’s Project 1 Million Barrels Per Day (1MMBOPD), a targeted effort to revive dormant assets, enhance brownfield performance, and fully leverage Nigeria’s production capacity.

Beyond increasing output, the project is unlocking value across the oil and gas value chain—from engineering and rig services to infrastructure and gas monetization. Gaps in pipelines, terminals, and modular facilities are now seen as prime opportunities for public-private collaboration. Nigeria, Komolafe emphasized, seeks not just capital but innovation—through blended finance, risk-sharing frameworks, and cutting-edge technologies to boost recovery, reduce flaring, and lower operational costs.

Still, challenges remain. Nigeria’s output lags its potential, and bridging that gap will require fast-tracked approvals, digital tools for rig tracking, and an uncompromising stance on pipeline security.

Equally vital are Presidential Executive Orders 40, 41, and 42, which aim to shorten contracting timelines, deepen local content, and offer tax incentives—measures designed to stimulate efficient and sustainable production.

Yet it is natural gas that represents Nigeria’s greatest long-term asset. With proven reserves of 210.54 trillion cubic feet and potential exceeding 600 Tcf, Nigeria’s gas wealth is not just vast—it is strategically vital. Through initiatives such as the Decade of Gas, the Presidential CNG Initiative, and the Nigerian Gas Flare Commercialisation Programme, Nigeria is building a transparent, integrated, and investor-friendly gas ecosystem to fuel domestic industry, export growth, and the clean energy transition.

Komolafe stressed that Nigeria isn’t going it alone. Recognizing the shared nature of Africa’s energy challenges, the country is spearheading collaborative efforts through the African Petroleum Regulatory Forum (AFRIPERF), promoting harmonized regulation and cross-border infrastructure development. Nigeria also strongly backs the Africa Energy Bank, a critical funding institution to support upstream and transition projects across the continent.

Concluding his address, Komolafe issued a bold invitation to the global investment community. Nigeria, he said, is not standing on the sidelines of history—it is shaping it. With deep reforms, abundant resources, and a clear commitment to investor success, the country is ready to lead Africa’s energy transformation.

“Our message is simple,” he said. “Nigeria is not only rich in natural resources—it offers high-yield opportunities for visionary investors. With bold reforms, transparent governance, and a commitment to excellence, the foundation is laid. We invite you to join us in shaping what comes next.”

As the summit closed, the sentiment was clear. Nigeria had not merely presented a vision—it had issued a call to action. And the world was listening.