The Federal Government said it has concluded plans to conduct a fresh round of oil licensing in 2024 to attract new investors and increase investment, ultimately raising Nigeria’s oil reserves toward 40 billion barrels from the present 37 billion barrels. The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Gbenga Komolafe, confirmed this in a policy statement on Saturday. According to him, the planned licensing round aligns with Section 73 of the nation’s Petroleum Industry Act, PIA, a comprehensive legislation aimed at achieving increased investment, r…