SAT AUG 08 2026-theGBJournal| NNPC Limited has distanced itself from criticism over the outcome of Nigeria’s latest oil licensing round, saying the process falls under the statutory mandate of the upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Responding Saturday to comments attributed to the Oil and Gas Professionals Forum, NNPC said it had no regulatory or allocative powers over oil blocks under the Petroleum Industry Act and therefore could not be held responsible for the outcome of the licensing round.
”Under the Petroleum Industry Act (PIA) 2021, the conduct of oil licensing rounds and the allocation of oil blocks fall squarely within the statutory mandate of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),” said, adding ”NNPC Limited, since its incorporation, has operated strictly as a commercial entity and holds no regulatory or allocative authority.”
The state-owned energy company also defended the performance of Group Chief Executive Officer Bayo Ojulari, pointing to higher crude oil and gas production since April 2025.
NNPC said average crude oil production, including condensates, rose 6% to 1.67 million barrels per day in April 2026 from 1.60 million bpd a year earlier, while gas output increased 5% to 7,729 million standard cubic feet per day.
The company said the production gains demonstrated sustained improvement under its current leadership and underscored its transformation into a commercially focused energy company.
NNPC said it welcomed scrutiny of its operations but urged industry groups and analysts to verify claims through official regulatory and corporate channels, adding that it reserved the right to protect its reputation and that of its leadership against false or unsubstantiated allegations.
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