Oil rigs rise to 44 in Nigeria as FG disburses N326bn to host communities

Share:

The growth was attributed to reduced oil theft through Federal Government interventions.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the number of active oil rigs rose to 44 in July 2025, reflecting a 37.5% increase from May.

The growth was attributed to reduced oil theft through Federal Government interventions.

Engr. Gbenga Komolafe, NUPRC Chief Executive, disclosed at the NOG Energy Week in Abuja that N326.51 billion has been disbursed to 145 Host Community Development Trusts (HCDTs), funded by 94 settlors in line with the Petroleum Industry Act. The amount includes a dollar component converted at ₦1,529.63/$.

Komolafe highlighted initiatives such as the Project One Million Barrels, targeting 2.5 million barrels per day by 2026, with 1.7 million bpd already reached. He said, “We are working with security agencies to secure assets and approved 37 new evacuation routes.”

He also cited the HostComply platform and digitisation as drivers of transparency, and vowed regulatory action against non-compliant producers in pursuit of climate goals.

READ MORE AT VANGUARD

Join Our Community to get Live Updates

Leave a Comment

We would like to keep you updated with special notifications.

×