The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that it expects at least $30 billion in investments from 22 major offshore oil and gas projects planned between 2026 and 2030, as part of efforts to boost crude oil production, create jobs and strengthen the country’s energy security.

Speaking at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos on Wednesday, the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, said the projects have an estimated investment potential of between $30 billion and $50 billion.

In a statement by the Head, Media and Corporate Communications, NUPRC, Eniola Akinkuotu, Eyesan, who was represented by the Executive Commissioner, Development and Production, Engr. Enorense Amadasu, said the investments would reinforce Nigeria’s position as a leading global destination for upstream oil and gas investments.

She revealed that since 2024, the Commission had approved more than $57 billion worth of Field Development Plans (FDPs), with several of the approvals alread’ progressing to Final Investment Decisions (FIDs).

“Since 2024, the NUPRC has approved over US$57 billion in Field Development Plans, 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 $30-50 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 said Nigeria was not only focused on developing its proven hydrocarbon reserves but was also building a resilient energy future through sustained exploration activities aimed at ensuring long-term growth and energy security.

According to her, successive licensing rounds conducted since 2022 have opened access to some of Nigeria’s most prospective oil and gas acreages, improving investor confidence in the sector.

She cited the 2025 Licensing Round, which produced 31 successful companies that won 37 oil and gas blocks after what she described as a transparent, data-driven and technology-enabled evaluation process.

The NUPRC boss also announced that preparations were already underway for the 2026 Licensing Round, expressing confidence that the process would further strengthen investment certainty in Nigeria’s upstream petroleum industry.

“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 stated.

On infrastructure, Eyesan acknowledged that inadequate oil and gas infrastructure remained one of Africa’s biggest challenges but said Nigeria was implementing measures to close the gap.

She said the country was expanding gas gathering systems, processing facilities, pipelines and export infrastructure while promoting shared facilities, open access, third-party access and field tie-backs to lower development costs, accelerate project execution and unlock stranded oil and gas resources.

Eyesan added that improved collaboration among government agencies, security organisations, operators, host communities and private sector partners, alongside the implementation of the Host Community Development Trust, had enhanced the protection of critical energy assets and made Nigeria’s upstream sector more resilient. (Vanguard)

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