The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is targeting between $30 billion and $50 billion in investments from 22 major offshore oil and gas projects expected to come on stream between 2026 and 2030.

The Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Wednesday during the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos.

Represented by the Executive Commissioner for Development and Production, Engr. Enorense Amadasu, Eyesan said the planned investments would boost crude oil production, create jobs, expand infrastructure and strengthen Nigeria’s energy security.

She revealed that the commission had approved more than $57 billion in Field Development Plans (FDPs) since 2024, with several projects already progressing to Final Investment Decisions (FIDs).

“Since 2024, the NUPRC has approved over $57 billion in Field Development Plans, some of which have translated into Final Investment Decisions. Twenty-two major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30 billion to $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.

Eyesan said Nigeria is not only developing its proven hydrocarbon reserves but also building a resilient energy future through sustained exploration activities that will support long-term growth.

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

She cited the 2025 Licensing Round, in which 31 companies emerged successful bidders for 37 oil and gas blocks after what she described as a transparent, data-driven and technology-enabled evaluation process.

The NUPRC chief executive added that preparations for the 2026 Licensing Round were already underway, expressing confidence that the country’s increasingly transparent regulatory framework would continue to attract investors.

“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,” she said.

While acknowledging that inadequate infrastructure remains a major challenge to Africa’s energy sector, Eyesan said Nigeria is addressing the gap by expanding gas gathering systems, processing facilities, pipelines and export infrastructure.

She noted that the commission is also promoting shared infrastructure, open and third-party access, and field tiebacks to reduce project costs, accelerate development and unlock stranded oil and gas resources.

Eyesan further attributed improved resilience in Nigeria’s upstream petroleum sector to stronger collaboration among government agencies, security institutions, operators, host communities and private sector partners, supported by the implementation of the Host Community Development Trust framework.