The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on financial institutions to play a stronger role in financing Nigeria’s oil and gas operators, particularly in efforts to boost domestic gas production and unlock new investments across the sector.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, made the appeal during a meeting with senior executives of Rand Merchant Bank (RMB) at the NUPRC headquarters in Abuja.
Eyesan stressed the need for stronger collaboration between regulators, financiers, and operators to accelerate growth in the gas industry and ensure sustainable investment inflows.
“One critical element will be financing, and we are hoping that you and the financial world will be there to support us,” she said, adding that regulatory compliance under the Petroleum Industry Act remains a top priority.
She noted that investor confidence in the sector is rising, pointing to the ongoing 2025 licensing round, which attracted nearly 300 applications from international oil companies and indigenous operators.
The NUPRC boss also highlighted key energy transition initiatives, including the issuance of Permits to Access Flare Gas (PAFG) to 28 companies and a national target of reducing methane emissions by 60 per cent by 2031.
In response, the Head of Oil and Gas Coverage at Rand Merchant Bank, Jonathan Ross, said the bank is committed to supporting Nigeria’s oil and gas expansion, with a strong focus on gas development.
He described gas infrastructure projects such as the OB3 Gas Pipeline as critical to unlocking Nigeria’s vast energy potential, adding that recent regulatory reforms have improved investor confidence in the sector.
Ross further noted that enhanced security conditions in host communities have strengthened Nigeria’s position as a more attractive destination for energy investment.
