— Eyesan says projects will boost production, create jobs, strengthen Nigeria’s energy security
By| Goodluck E.Adubazi, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has projected between $30 billion and $50 billion in investments from 22 major offshore oil and gas projects expected to come on stream between 2026 and 2030.
The NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Wednesday in Lagos while delivering a keynote address at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026).
Eyesan, who was represented at the conference by the Executive Commissioner, Development and Production, Engr. Enorense Amadasu, said the projects would not only increase Nigeria’s oil and gas production but also create jobs, expand infrastructure and strengthen the country’s energy security.
She said the Commission had, since 2024, approved more than $57 billion in Field Development Plans (FDPs), some of which had already translated into Final Investment Decisions.
“Twenty-two major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30–50 billion,” Eyesan stated.
According to her, the investments would further reinforce Nigeria’s position as a leading destination for global upstream investments.
“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 added that Nigeria was not only focused on developing its proven reserves but was also building a resilient energy future through sustained exploration opportunities capable of supporting long-term growth and energy security.
She noted that successive licensing rounds since 2022 had opened up access to some of the country’s most prospective oil and gas acreages.
The NUPRC boss cited the 2025 Licensing Round, in which 31 companies emerged as successful bidders for 37 oil and gas blocks after undergoing a data-driven and technology-enabled evaluation process.
She said preparations for the 2026 Licensing Round were already underway, expressing optimism that the exercise would attract greater investor confidence on the strength of the transparency demonstrated in previous 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,” she said.
However, Eyesan identified infrastructure deficit as one of the major challenges limiting Africa’s vast oil and gas potential, noting that Nigeria was implementing strategies to address the constraint.
She said the Commission was expanding gas gathering systems, processing facilities, pipelines and export infrastructure, while promoting shared facilities, open access, third-party access and field tiebacks.
According to her, the measures are aimed at reducing project costs, accelerating delivery, maximising existing infrastructure and bringing stranded oil and gas resources into production.
Eyesan further attributed improvements in the protection of critical energy assets to stronger collaboration among government agencies, security agencies, oil and gas operators, host communities and private-sector partners.
She also highlighted the role of the Host Community Development Trust in improving asset protection and strengthening the resilience of Nigeria’s upstream petroleum sector.0
