Renaissance Africa Energy Company Nigeria Ltd has credited ongoing regulatory reforms by the Nigerian Upstream Petroleum Regulatory Commission for its recent surge in production, announcing a record 2.2 billion cubic feet of gas output.
The indigenous energy firm said the milestone reflects a broader turnaround in Nigeria’s upstream sector, driven by improved regulatory clarity and a more investor-friendly environment.
The company’s Managing Director and Chief Executive Officer, Chief Tony Attah, disclosed this during a courtesy visit to the commission’s headquarters in Abuja on Tuesday, as part of activities marking the firm’s one-year anniversary.
A statement issued by the NUPRC Head of Corporate Communications and Media, Eniola Akinkuotu, said Attah commended the commission for creating an enabling environment that has accelerated Renaissance’s operational growth and expansion ambitions.
Attah said the transformation within the regulatory space has positioned the commission as a leading force on the continent.
“The NUPRC should feel proud of the CCE here. Looking at the transformation happening in the industry and the regulatory side, we do not have a better team to drive the industry in the whole of Africa than the NUPRC team,” he said.
He linked the company’s production milestone directly to regulatory support, stressing that the Commission’s role as a business enabler has been critical.
“We speak to energy security in Africa, but more importantly, the industrialisation of Nigeria. I am very proud to confirm that yesterday, March 30, 2026, we delivered 2.2bcf of gas, and we beat our target of 2030,” Attah added.
In her remarks, the Commission Chief Executive, Oritsemeyiwa Eyesan, said Renaissance’s performance validates the Federal Government’s push for indigenous participation in the oil and gas sector.
She noted that Nigeria’s upstream industry has experienced a significant rebound after years of declining production.
According to her, crude oil output, which once peaked above 2 million barrels per day, had dropped to about 900,000 bpd but is now recovering steadily.
Eyesan recalled that the recent wave of divestments by international oil companies initially raised concerns about the capacity of local firms to manage the assets effectively.
She, however, said Renaissance has proven skeptics wrong.
“We are back on the upward trajectory, and Renaissance will play a major role in the storyline. At the time of initiating the divestment, there was a lot of apprehension, given that past divestments saw some successful, some not so successful, and some just on the borderline.
“The apprehension was, can Nigeria really step into the shoes of an IOC and do justice to the assets? I think today, Renaissance has demonstrated that the apprehension was just a breeze,” she said.
The NUPRC boss assured the company of continued regulatory support, describing the commission as a partner in driving growth across the industry.
Renaissance emerged as part of the recent divestment of onshore assets by international oil companies, notably acquiring Shell Petroleum Development Company of Nigeria’s onshore and shallow water assets, marking a shift toward greater indigenous participation in Nigeria’s upstream sector.
The divestment wave marks a strategic shift in Nigeria’s oil and gas sector, with indigenous firms increasingly taking control of key assets previously operated by multinational companies.
