The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has projected between $30 billion and $50 billion in investments from 22 major offshore projects expected to come on stream between 2026 and 2030.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this yesterday at the Nigeria Annual International Conference and Exhibition, NAICE 2026, in Lagos. Eyesan, who was represented by the Executive Commissioner, Development and Production, Engr. Enorense Amadasu, said in her keynote address that these investments are expected to increase production, create jobs and strengthen energy security.
She said: “Since 2024, the NUPRC has approved over US$57 billion in Field Development Plans (FDPs); some of which have translated to Final Investment Decisions (FIDs). Twenty-two (22) 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.
Besides developing its proven reserves, Eyesan said Nigeria is building a resilient energy future by maintaining a strong pipeline of exploration opportunities that will sustain long-term growth and energy security. According to her, since 2022, successive licensing rounds have opened access to some of Nigeria’s most prospective oil and gas acreages.
She referenced 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. She said the 2026 Licensing Round which is set to commence soon is showing greater promise thanks to the transparency that has characterised 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.