By joshua NUPRC Commissioner, Babalola, Bags NAEC’s Excellence Award
Ayo Ola
Non Executive Commissioner, and member of the Governing Board, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr Sunday Adebayo Babalola, has been honoured with Energy Leadership & Human Capital Development Personality of 2026 by the Association of Energy Correspondents of Nigeria (NAEC) for his great contribution to Nigeria’s oil and gas sector growth, human capital and community development and philanthropy.
Speaking on the sidelines of the Energy Conference with the theme “Access to Assets: Empowering Players and Driving Growth,” the elated award recipient said that Nigeria can achieve the federal government’s target of three million barrels per day oft hydrocarbons and 12 billion cubic feet of gas per day by 2030.
According to him, activities in the nation oil and gas sector were progressing towards the target.
He also identified some strategies that could assist in the actualisation of the target.
He also commended NAEC for the award and lauded members of the association for their professionalism, truthfulness, doggedness and comprehensiveness in reporting the energy sector as well as chatting pathways for the sector.
Babalola said: “We have already started in a good direction. One of them is the bid rounds which were successful done. New ones will be done that will be bringing in more players. Already the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Mrs Oritsemeyiwa Eyesan has announced the commencement of the 2026 Licensing Round and offered 40 oil and gas blocks to investors.
‘The Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Mrs Oritsemeyiwa Eyesan. That will also mean that more activities are taking place in the industry. The rig counts have increased tremendously And I see more rigs coming in.
“The host community that are integrated into the petroleum Industry Act (PIA) most of the communities come. We also need to look at new horizons because there are some horizons that have not being taken advantage of. The abandoned hosts, now want activities to continue in the area, like the Ogoni area. Fortunately, our own chairman of the governing board of NUPRC, Senator Magnus Abe is from there. A lot of activities are happening. And I see more companies, they have more indirect investments.
“A lot if activities are going on in these area too numerous for me to be listing them. We will intensify and continue to make progress towards the 3mbpd. By the grace of God, we can achieve that. As we go along with those activities going in, we can still see what more can we do to enhance it.
“Also the drill or drop is going to help. So everything is being done. Drill or drop means when you get an oil well if you do not drill it within a period allotted to it, you automatically drop it.’’
Chairman of NAEC, Mr. Ugo Amadi, said Babalola’s award was meritorious and charged him to continue to be champion and shinning example in the sector.
He advised him to remain steadfast in those criteria that qualified for the award.
In his opening address, Ugo said: “Exactly one year ago, we gathered here to appraise the state of Nigeria’s energy sector. This morning, we gather again to continue a tradition that has lasted for over three decades.
“As many of you know, NAEC is 39 years this year. For 39 years, we have not just reported the energy sector; we have provided a credible, independent platform for honest, critical and solution-driven conversations to help shape the policy roadmap that drives growth in this vital sector. This annual conference is our contribution to nation-building.”
He stated that in the last one year, Nigeria has recorded measurable progress, but noted that significant gaps still demand urgent attention from government and stakeholders.
According to him, in the oil and gas industry, the Petroleum Industry Act [PIA] implementation has deepened, resulting in new investment inflows and projects in the sector.
He added that local refining has also gained traction with Dangote Refinery and modular refineries ramping, and enforcement of Domestic Crude Supply Obligation [DCSO].
“Yet gaps remain. Asset access for indigenous players is still constrained by funding, high entry costs and lengthy approvals. Crude evacuation challenges persist. Gas pricing and commercial frameworks for gas-to-power and Liquefied Petroleum Gas [LPG] remain unclear.
“In the power sector, the Electricity Act 2023 has unlocked state electricity markets and private participation. The Presidential Metering Initiative is closing metering gaps and new investments are strengthening transmission.
“However, Distribution Companies [DisCos] remain liquidity-constrained, collection efficiency is low and estimated billing persists. Grid disturbances continue to expose transmission fragility. Over 90 million Nigerians still lack reliable electricity, forcing households and industries to rely on expensive self-generation,” he said.
Amadi stated that in the mining sector, reforms under the Mining Roadmap, improved geoscience data efforts and global interest in lithium, gold and bitumen are encouraging. According to him, solid minerals is now correctly positioned as a diversification pillar.
He, however, decried that the sector is still dominated by artisanal and illegal mining, insecurity in mining zones, poor access to credible geo-data, and lack of processing and beneficiation infrastructure.
He lamented that access to licenses, finance and equipment for serious local investors remains a major barrier, making us export raw ore and import finished products.
Amadi said: “It is against this backdrop that we chose this year’s theme: “Access to Assets: Empowering Players and Driving Growth.”
“Access is at the heart of Nigeria’s energy challenge. Access to acreage, access to finance, access to infrastructure, access to reliable data, access to power and access to markets. Until we dismantle these barriers, we cannot unlock the growth we seek.”