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.
This disclosure was made by the Chief Executive of the NUPRC, Mr. Gbenga Komolafe while speaking with reporters in Abuja
He stated that the bidding process was transparent, competitive, and driven by technology.
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), no oil licensing guidelines violations occurred during the 2024 oil block licensing round.
Rather, the process was conducted in strict compliance with the Petroleum Industry Act (PIA) and its own licensing guidelines, ensuring a transparent, competitive and technology-driven bidding
“The 2024 oil block licensing round adhered fully to all statutory provisions and guidelines, with no discrimination or corrupt practices involved,” the source read in part.
Komolafe stated that the licensing round followed a multi-stage process pre-qualification, technical evaluation, and commercial bid assessment, requiring bidders to submit documents such as incorporation papers, tax clearances, and proof of financial, technical, and legal capacity.
He noted that, contrary to recent media claims that a newly registered company was improperly awarded oil blocks, the Commission’s guidelines do not restrict participation based on a company’s age.
