The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has projected that 22 major offshore oil and gas projects expected to come on stream between 2026 and 2030 will attract investments estimated at between $30 billion and $50 billion, further strengthening Nigeria’s position as a leading destination for upstream energy investment.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Wednesday at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos.
Represented by the Executive Commissioner for Development and Production, Engr. Enorense Amadasu, she said the investments would boost crude oil production, create jobs, expand critical infrastructure and enhance the nation’s energy security.
According to a statement by the Head of Media and Corporate Communications at the NUPRC, Mr. Eniola Akinkuotu, Eyesan said the Commission had approved more than $57 billion worth of Field Development Plans, FDPs, since 2024, with several of the projects already progressing to Final Investment Decisions, FIDs.
“Since 2024, the NUPRC has approved over US$57 billion in Field Development Plan, FDPs, some of which have translated to Final Investment Decisions. Twenty-two major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30 billion to $50 billion.
“Beyond increasing production, these investments will create jobs, expand infrastructure, strengthen energy security and reinforce Nigeria’s position as a leading global upstream investment destination,” she said.
Eyesan noted that, in addition to developing the country’s proven hydrocarbon reserves, the Commission is building a resilient energy future by maintaining a robust pipeline of exploration opportunities to sustain long-term growth and national energy security.
She explained that successive licensing rounds conducted since 2022 have opened access to some of Nigeria’s most prospective oil and gas acreages, significantly improving investor confidence.
The NUPRC chief executive highlighted the success of the 2025 Licensing Round, during which 31 companies emerged successful bidders for 37 oil and gas blocks following what she described as a transparent, technology-driven and data-based evaluation process.
She added that preparations for the 2026 Licensing Round were already underway, expressing confidence that the process would further consolidate Nigeria’s reputation for regulatory transparency and investment certainty.
“With preparations already underway for the 2026 Licensing Round, Nigeria is demonstrating that investment certainty is no longer an aspiration; it is becoming an enduring feature of our regulatory framework,” Eyesan stated.
While acknowledging that inadequate infrastructure remains a major challenge to unlocking Africa’s energy potential, she said Nigeria was addressing the deficit through strategic investments in gas gathering systems, processing facilities, pipelines and export infrastructure.
According to her, the Commission is also promoting shared infrastructure, open access, third-party access and field tie-back arrangements to lower development costs, accelerate project delivery and unlock stranded oil and gas resources.
Eyesan further attributed the improved resilience of Nigeria’s upstream petroleum sector to stronger collaboration among government institutions, security agencies, operators, host communities and private sector partners.
She added that the implementation of the Host Community Development Trusts under the Petroleum Industry Act has also contributed significantly to the protection of critical oil and gas assets and the sustainability of operations across the sector.
