Nigeria is positioning itself for a fresh wave of upstream investment, with 22 major offshore oil and gas projects expected to attract between $30 billion and $50 billion in investments over the next five years, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed. Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, stated this at the Society of Petroleum Engineers Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos on Wednesday. She said the projects, scheduled for execution between 2026 and 2030, are expected to significantly boost crude oil production, create thousands of jobs, expand critical infrastructure and reinforce the country’s energy security. Eyesan, added that, the investment pipeline reflects growing confidence in Nigeria’s upstream petroleum sector. Represented by the Executive Commissioner, Development and Production, Mr. Enorense Amadasu, Eyesan revealed that the Commission had approved more than $57 billion worth of Field Development Plans (FDPs) since 2024, with several of the projects already progressing to Final Investment Decision (FID). “Since 2024, the NUPRC has approved over $57 billion in Field Development Plans, some of which have translated into Final Investment Decisions.

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