NUPRC says transparent PIA framework, rising investor interest and Africa Energy Bank will drive upstream growth…..
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has called on global investors to take advantage of opportunities in Nigeria’s 2025 licensing round, which is offering 50 oil and gas blocks across multiple terrains.
The Commission Chief Executive, Oritsemeyiwa Eyesan, made the appeal on Tuesday at the opening of the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos.
Eyesan said the licensing round is designed to unlock Nigeria’s upstream oil and gas potential under the transparent and predictable regulatory environment created by the Petroleum Industry Act (PIA) 2021.
“To facilitate resource access, Nigeria has launched the 2025 licensing round, offering 50 oil and gas blocks across various terrains,” she said.
“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 stated that reforms introduced under the PIA have strengthened regulatory certainty, improved transparency and boosted investor confidence in Nigeria’s upstream sector. According to her, the country is positioning itself to benefit from renewed global interest in Africa’s hydrocarbon resources by attracting credible and technically capable investors.
Eyesan noted that Africa’s energy investment outlook has improved significantly in the last three years, with the continent now attracting a larger share of global capital expenditure.
“Of the 520 billion dollars projected in global capital investment this year, Africa is expected to attract between 48 billion and 50 billion dollars, representing more than eight per cent of the total. This marks a notable increase from previous years when the continent accounted for less than four per cent,” she said.
She attributed the resurgence to renewed investor interest in both frontier and established basins, particularly in Nigeria, Namibia, Mozambique and other major African energy hubs.
Beyond foreign investment, Eyesan stressed the importance of strengthening domestic and regional financing to support long-term energy development across the continent.
“As we continue to attract external capital, encouraging capital formation within Africa remains critical. Domestic financing provides stronger commitment and stability, and supports sustainable development,” she said.
She added that African independent operators are increasingly taking on a larger role in Nigeria’s upstream sector, contributing significantly to project execution and capital investment.
Eyesan identified the establishment of the Africa Energy Bank, headquartered in Nigeria, as a key milestone in advancing indigenous financing for the sector.
“The creation of the Africa Energy Bank, proudly hosted in Nigeria, is a major milestone. Strong and unified stakeholder support will be essential to its success,” she said.
She also highlighted the growing impact of regional cooperation, particularly in gas development, expansion of power infrastructure and regulatory alignment across African markets.
“Beyond national initiatives, regional cooperation is proving transformative,” she said, pointing to expanded gas and power infrastructure aimed at improving energy access, reliability and affordability across the continent.
According to her, platforms such as the African Petroleum Regulators’ Forum are strengthening Africa’s collective voice in global energy discussions and shaping the future of the continent’s energy landscape.
