•Says infrastructure deficit undermining Africa’s potential
Emmanuel Addeh in Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday said that 22 major offshore projects are expected between 2026 and 2030 with an estimated investment potential of between $30 billion and $50 billion.
The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, said this yesterday in Lagos at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026).
A statement in Abuja by the Head, Media and Corporate Communications of the NUPRC, Eniola Akinkuotu, disclosed that Eyesan was represented by the Executive Commissioner, Development and Production, Mr Enorense Amadasu.
At the event, Eyesan said in her keynote address that these investments are expected to increase production, create jobs and strengthen energy security.
“Since 2024, the NUPRC has approved over $57 billion in Field Development Plan (FDPs), some of which have translated to Final Investment Decisions (FIDs). Twenty-two major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30–50 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,” the NUPRC chief executive stated.
In the recent 2025 licensing round, the commission offered 50 oil and gas blocks spanning onshore, shallow water, deep offshore and frontier basins, with the expectation that the exercise would unlock additional investment.
Eventually, the bid round recorded one of the strongest investor responses in recent years, with 143 companies submitting 200 bids for 37 of the 50 blocks on offer. Ultimately, 31 companies emerged winners of 37 oil and gas blocks, covering the Niger Delta onshore, shallow water, deep offshore as well as the Benin, Anambra, Chad and Benue frontier basins.
But besides developing its proven reserves, Nigeria, Eyesan said, is building a resilient energy future by maintaining a strong pipeline of exploration opportunities that will sustain long-term growth and energy security.
According to the NUPRC CEO, since 2022, successive licensing rounds have opened access to some of Nigeria’s most prospective oil and gas acreages.
She made reference to the recent 2025 licensing round where 31 companies emerged successful bidders for 37 oil and gas blocks after progressing through a robust, data-driven and technology enabled evaluation process.
Eyesan said the 2026 licensing round which is set to commence soon is showing greater promise thanks to the transparency that has characterised licensing rounds.
“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,” the NUPRC boss stated.
According to Eyesan, infrastructure deficit continues to undermine Africa’s promising potential, saying however that Nigeria is addressing this challenge through a series of strategies.
“We are expanding gas gathering systems, processing facilities, pipelines and export infrastructure, while promoting shared facilities, open access, third party access and field tiebacks to reduce costs, speed up project delivery, maximise the use of existing infrastructure and help bring stranded oil and gas resources into production,” she stated.
Besides these infrastructure strategies, Eyesan said stronger collaboration among government, security agencies, operators, host communities and private partners as well as the Host Community Development Trust (HCDT) had led to an improvement in the protection of critical energy assets which had ultimately made Nigeria’s upstream sector more resilient.