Nigeria is projecting between $30 billion and $50 billion in investments from 22 major offshore oil and gas projects expected between 2026 and 2030, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said.
The projection was contained in a statement issued by Eniola Akinkuotu, Head, Media and Corporate Communications, NUPRC, following remarks by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos.
“Twenty-two (22) major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30–50 billion,” Eyesan said in a keynote address delivered on her behalf by the Executive Commissioner, Development and Production, Engr. Enorense Amadasu.
She added that the expected investments would boost production, create jobs and strengthen Nigeria’s energy security.
“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 revealed that since 2024, the commission has approved over $57 billion in Field Development Plans (FDPs), some of which have progressed to Final Investment Decisions (FIDs), indicating renewed investor confidence.
She noted that successive licensing rounds have continued to unlock access to Nigeria’s most prospective oil and gas acreages. In the 2025 Licensing Round, 31 companies emerged successful bidders for 37 blocks following what she described as a “robust, data-driven and technology-enabled evaluation process.”
“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.
Eyesan acknowledged infrastructure deficits across Africa but said Nigeria is addressing the challenge by expanding gas gathering systems, pipelines, processing facilities and export infrastructure, while promoting shared and open-access systems to reduce costs and accelerate delivery.
She added that improved collaboration among government, operators, host communities and security agencies, supported by the Host Community Development Trust, has strengthened the protection of critical oil and gas assets.
The NUPRC said the combined reforms are positioning Nigeria’s upstream sector for sustained growth and global competitiveness.
