Nigeria’s upstream oil regulator has approved field development plans (FDPs) worth more than $57 billion since 2024, with 22 major offshore projects expected between 2026 and 2030 that could attract an additional $30 billion to $50 billion in investment.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, said the approvals had already led to some final investment decisions and would help raise production, create jobs and strengthen the country’s energy security.
“Since 2024, the NUPRC has approved over $57 billion in field development plans, some of which have translated into final investment decisions,” Eyesan said in a keynote address delivered on her behalf by Executive Commissioner for Development and Production Enorense Amadasu at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos on Wednesday.
“Twenty-two major offshore projects are expected between 2026 and 2030, with an estimated investment potential of $30 billion to $50 billion,” she said.
Eyesan said the investments would not only boost oil and gas production but also create jobs, expand infrastructure, strengthen energy security and reinforce Nigeria’s position as an attractive destination for upstream investment.
She said Nigeria was building a resilient energy sector by maintaining a strong pipeline of exploration opportunities alongside the development of its proven reserves.
Since 2022, successive licensing rounds have opened access to some of Nigeria’s most prospective oil and gas acreage, she said.
Eyesan cited the 2025 licensing round, in which 31 companies emerged as successful bidders for 37 oil and gas blocks after what she described as a transparent, data-driven and technology-enabled evaluation process.
Preparations are already under way for the 2026 licensing round, which she said would further demonstrate that “investment certainty is no longer an aspiration; it is becoming an enduring feature of our regulatory framework.”
Eyesan said inadequate infrastructure remained a major constraint on Africa’s energy potential, but Nigeria was addressing the challenge by expanding gas gathering systems, processing facilities, pipelines and export infrastructure.
The country is also promoting shared facilities, open access, third-party access and field tie-backs to reduce costs, accelerate project delivery and bring stranded oil and gas resources into production, she said.
She added that stronger collaboration among government agencies, security forces, operators, host communities and private sector partners, alongside the Host Community Development Trust, had improved the protection of critical energy infrastructure and made Nigeria’s upstream sector more resilient.
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