An average of between $30 billion and $50 billion estimated investment potential is targeted from 22 major offshore projects in the oil and gas industry in the next four years, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said.
The Upstream Petroleum Industry regulator said the projects are expected to become operational in the next four years between 2026 and 2030.
The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, who disclosed this in Lagos on Wednesday at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026), said these investments are expected to increase the country’s oil and gas production capacity, create jobs and strengthen the overall energy security.
Eyesan, who was represented by the Executive Commissioner, Development and Production, Engineer Enorense Amadasu, said in her keynote address that since 2024, the NUPRC approved over $57 billion in Field Development Plan (FDPs) some of which have translated to Final Investment Decisions.
“Some of these projects include 22 major offshore projects expected to become operational between 2026 and 2030 with an estimated investment potential of $30–50 billion,” she said.
“Beyond increasing oil and gas industry production, these investments will create jobs, expand infrastructure, strengthen energy security and reinforce Nigeria’s position as a leading global upstream investment destination,” she added.
Besides developing its proven reserves, she said Nigeria was building a resilient energy future by maintaining a strong pipeline of exploration opportunities that would sustain long-term growth and energy security.
The NUPRC boss said that 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, was showing greater promise, thanks to the transparency that has characterised recent 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.
Eyesan said infrastructure deficit continues to undermine Africa’s promising potential,adding 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,” the NUPRC boss 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 led to an improvement in the protection of critical energy assets, which ultimately made Nigeria’s upstream sector more resilient.
