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NUPRC reports 762.5% rise in oil rigs between 2021 and 2025
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Commission links surge to investor confidence and Tinubu’s reform agenda
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Host communities receive ₦358.67 billion in development trust funds
Nigeria’s oil and gas sector has recorded a massive leap in upstream activity, as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that the nation’s oil rig count has surged from eight in 2021 to 69 as of October 2, 2025.
The figure represents a 762.5 percent increase within four years — the highest growth rate in over a decade, reflecting renewed investor confidence and improved stability in the industry.
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According to a statement released by the Commission, the 69 rigs include 40 active, 8 on standby, 5 on warm stack, 4 on cold stack, and 12 currently in transit.
Tinubu’s Reforms Drive Upstream Growth
The NUPRC attributed the growth to reforms implemented under President Bola Tinubu’s administration, which have strengthened investor confidence and eased regulatory processes.
“This shows a renewed investor confidence in Nigeria. The success aligns with President Tinubu’s charge that Nigeria is ready for business and that the right investment climate prevails now in the Nigerian upstream as daily actioned by the NUPRC,” the statement read.
The Commission revealed that 306 development wells have been drilled and completed between 2022 and 2025, underscoring the sector’s rising momentum and productivity.
On host community development, NUPRC disclosed that the Host Community Development Trusts (HCDTs) have remitted over ₦358.67 billion, including ₦122.34 billion in naira and $168.91 million (converted to naira at prevailing rates).
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The Commission added that it is currently supervising 536 community projects, spanning schools, health centres, roads, and vocational facilities — all funded through the trust scheme.
“The achievement has tremendously curbed crude oil theft,” the NUPRC said.
In the exploration segment, the NUPRC confirmed issuing Nigeria’s first Petroleum Exploration Licence (PEL) for a large offshore geophysical survey covering 56,000 km² of 3D seismic and gravity data.
The Commission has also reprocessed 17,000 line-kilometres of 2D and 28,000 square kilometres of 3D seismic data, yielding sharper subsurface imaging and reducing exploration risks across Nigeria’s petroleum basins.
