Nigeria Seeks $30 Billion in Offshore Oil and Gas Investments
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is projecting at least $30 billion in investments from 22 major offshore oil and gas projects planned between 2026 and 2030. According to NUPRC's Chief Executive, Mrs. Oritsemeyiwa Eyesan, these projects have an estimated investment potential of between $30 billion and $50 billion.
The Commission has already approved over $57 billion worth of Field Development Plans (FDPs) since 2024, with several approvals progressing to Final Investment Decisions (FIDs). The investments are expected to boost crude oil production, create jobs, strengthen energy security, and reinforce Nigeria's position as a leading global destination for upstream oil and gas investments.
Eyesan highlighted the importance of infrastructure development in the sector, citing inadequate oil and gas infrastructure as one of Africa's biggest challenges. The Commission is expanding gas gathering systems, processing facilities, pipelines, and export infrastructure to close the gap.