The Nigeria Extractive Industries Transparency Initiative (NEITI) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for notable progress in the conduct of the 2022–2023 Mini Bid Round and 2024 Licensing Round.
The commendation followed NEITI’s independent monitoring of the pre-qualification and technical bid processes.
The exercise is in line with its mandate under the Petroleum Industry Act (PIA) 2021 and the global Extractive Industries Transparency Initiative (EITI) Standard.
An Advisory Report released by NEITI yesterday also highlighted notable improvements in inclusivity, digitalisation, and procedural integrity.
The report was presented to the NEITI National Stakeholders Working Group (NSWG) at its statutory meeting in Umuahia, Abia State on May 9.
It described the licensing rounds as a significant milestones in Nigeria’s upstream petroleum sector, designed to attract credible investments, unlock hydrocarbon potential and advance national development objectives.
