Abuja, Nigeria – October 6, 2025
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a dramatic resurgence in Nigeria’s oil and gas sector, highlighting a 762% increase in rig count and over $40 billion in new investments — four years after the enactment of the Petroleum Industry Act (PIA).
In a statement released on Sunday and signed by the Commission’s Head of Media and Strategic Communications, Eniola Akinkuotu, the NUPRC attributed these achievements to sweeping reforms under the PIA, which have boosted investor confidence, reduced crude oil theft, and positioned Nigeria for long-term energy growth.
🚧 Rig Count Soars From 8 to 69
According to the Commission, Nigeria’s active rig count surged from just 8 in 2021 to 69 as of October 2, 2025 — a clear indicator of revived exploration and drilling activity in the country.
“This figure includes 40 active rigs, 8 on standby, 5 on warm stack, 4 on cold stack, and 12 currently mobilising,” the NUPRC said, describing it as a 762.5% increase within a four-year period.
The Commission expects the number to climb even higher in the coming months, reinforcing Nigeria’s re-emergence as a viable destination for upstream investment.
📈 Reforms Driving Confidence and Growth
The NUPRC noted that these milestones were achieved despite numerous legacy challenges from the pre-PIA era. The regulatory body listed 16 major achievements since its establishment, crediting the success to sustained policy reforms and the investment-friendly environment championed by President Bola Tinubu.
“This is clear evidence that Nigeria is once again open for business,” the statement read. “The rig count surge aligns with President Tinubu’s commitment to improving the investment climate in Nigeria’s upstream sector — a goal that the NUPRC continues to deliver on daily.”
The Commission emphasised that the gains represent more than just numbers — they mark a fundamental shift in how Nigeria’s oil and gas sector is being managed and developed under the current administration.
