Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 22 major offshore oil and gas projects expected between 2026 and 2030 could attract investments of between $30 billion and $50 billion.

The Commission’s Chief Executive, Oritsemeyiwa Eyesan, disclosed this yesterday while delivering a keynote address at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos.

Represented by the Executive Commissioner for Development and Production, Enorense Amadasu, Eyesan said the planned investments would increase oil production, create jobs, strengthen energy security and reinforce Nigeria’s position as a leading destination for upstream investments.

She said the commission had approved more than $57 billion worth of Field Development Plans (FDPs) since 2024, with some of the approved projects already progressing to Final Investment Decisions (FIDs).

Eyesan said Nigeria was also building a pipeline of exploration opportunities to sustain long-term growth and energy security.

According to her, successive licensing rounds conducted since 2022 have opened access to some of the country’s most prospective oil and gas acreages.

She said the 2025 Licensing Round produced 31 successful bidders for 37 oil and gas blocks after what she described as a robust, data-driven and technology-enabled evaluation process.

Eyesan added that preparations were already underway for the 2026 Licensing Round, expressing confidence that recent reforms had improved transparency and strengthened investor confidence.

She acknowledged that inadequate infrastructure remained a major challenge to Africa’s energy sector but said Nigeria was addressing the problem through expanded gas gathering systems, processing facilities, pipelines and export infrastructure.