Nigeria: Our Oil Sector Reforms Have Created Transparency – Eyesan Tells Global Investors

Nigeria’s petroleum sector reforms introduced under the Petroleum Industry Act (PIA) 2021 have created a predictable, transparent, and investor-friendly framework for upstream development, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, has said.

She has therefore urged global investors to take advantage of opportunities in Nigeria’s 2025 oil and gas licensing round.

The 2025 licensing round offers 50 oil and gas blocks across various terrains, underscoring Nigeria’s commitment to responsible resource development.

The Commission’s CEO made the call on Tuesday, February 10, 2026, while delivering the opening address at the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC 2026) in Lagos.

Eyesan described the licensing round as a key component of Nigeria’s strategy to unlock its vast upstream potential and reposition the country as a competitive destination for hydrocarbon investment.

She said the reforms introduced by the PIA had significantly improved regulatory certainty, reduced investor risk, and strengthened governance across the upstream petroleum sector.

“Nigeria is leveraging the momentum of renewed global interest in Africa’s hydrocarbons to attract credible investors into its upstream sector,” Eyesan said.

“To facilitate resource access, Nigeria has launched the 2025 licensing round, offering 50 oil and gas blocks across various terrains. This initiative reflects a targeted approach to responsible resource development. We invite capable investors to participate and help realise Nigeria’s promising upstream potential,” she added.

Eyesan noted that Africa’s energy investment outlook had strengthened considerably over the past three years, with the continent attracting a growing share of global capital expenditure.

She emphasised that Nigeria is positioning itself to benefit from this shift through regulatory reforms, improved fiscal terms, and a commitment to transparency and sustainability in resource development.