The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reasserted that Nigeria’s unwavering implementation of the Drill or Drop policy in the upstream sector is still resolute, intimating the operators that the era of companies holding on to their prospecting licences without developing their assets is now officially over.

The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, stated this when she received the management of the Petroleum Directorate of Sierra-Leone at the Commission’s headquarters in Abuja recently, highlighting the beauties of the Petroleum Industry Act, Section 94, which compels operators to either commence work or relinquish the license, a provision commonly referred to as drill or drop.

She revealed that the enforcement of this provision has now attracted more serious investors in the ongoing 2025 licensing round, which will increase Nigeria’s petroleum reserves and will undoubtedly lead to its aspiration of achieving its "Project One Million Barrels" initiative to increase its daily crude oil production by one million barrels (bpd) within 12 to 24 months, aimed at boosting output from around 1.6 million barrels to 2.6 million barrels per day by 2026.

In his remarks, the Director-General of the Petroleum Directorate of Sierra-Leone, Mr. Foday Mansaray, said the meeting aimed to understand Nigeria’s petroleum sector and use the lessons to improve his country’s own hydrocarbon sector. Mansaray called for stronger and more sustainable energy collaboration between Sierra Leone and Nigeria.