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 could attract investments of between $30 billion and $50 billion.
This is as Nigeria intensifies efforts to boost crude production, deepen exploration and strengthen its position as a preferred global upstream investment destination.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Wednesday while delivering the keynote address at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos. She was represented by the Executive Commissioner, Development and Production, Engr. Enorense Amadasu.
Eyesan said the anticipated investments would not only increase oil and gas production but also generate employment, expand infrastructure and enhance the country’s energy security.
She revealed that since 2024, the Commission has approved more than $57 billion worth of Field Development Plans (FDPs), with several already progressing to Final Investment Decisions (FIDs).
“Twenty-two major offshore projects are expected between 2026 and 2030 with an estimated investment potential of between $30 billion and $50 billion,” she said.
“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.”
Eyesan said Nigeria is not only focused on developing its proven hydrocarbon reserves but is also building a resilient energy future through sustained exploration activities aimed at supporting long-term growth and energy security.
According to her, successive licensing rounds conducted since 2022 have opened access to some of the country’s most prospective oil and gas acreages, attracting significant investor interest.
She noted that the 2025 Licensing Round produced 31 successful companies that secured 37 oil and gas blocks following what she described as a transparent, technology-driven and data-based evaluation process.
The NUPRC boss added that preparations for the 2026 Licensing Round are already underway, expressing confidence that the process would further strengthen investor confidence.
“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,” she said.
On infrastructure development, Eyesan acknowledged that inadequate infrastructure remains one of Africa’s major constraints to unlocking its full energy potential but stressed that Nigeria is addressing the challenge through strategic investments.
She said the Commission is driving the expansion of gas gathering systems, processing facilities, pipelines and export infrastructure while promoting shared facilities, open access, third-party access and field tie-backs to reduce project costs, accelerate development timelines and unlock stranded oil and gas resources.
Eyesan also attributed the growing resilience of Nigeria’s upstream petroleum sector to stronger collaboration among government agencies, security institutions, operators, host communities and private sector partners.
She added that the implementation of the Host Community Development Trust framework has significantly improved the protection of critical oil and gas infrastructure, creating a more secure and attractive operating environment for investors.
