The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on global investors to seize opportunities in its 2025 oil and gas licensing round, highlighting reforms under the Petroleum Industry Act 2021 (PIA) as a foundation for a predictable and investor-friendly framework. The announcement was made by NUPRC CEO Mrs. Oritsemeyiwa Eyesan during the opening of the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference in Lagos.
The 2025 licensing round offers 50 oil and gas blocks across onshore, shallow offshore, and deepwater terrains, reflecting Nigeria’s strategic push to unlock its upstream potential. “Nigeria is leveraging renewed global interest in Africa’s hydrocarbons to attract credible investors into its upstream sector,” Eyesan said, stressing that this initiative is part of a long-term plan to position the country as a competitive destination for hydrocarbon investment.
Africa’s energy investment outlook has seen significant growth, Eyesan noted, with the continent projected to attract between $48bn and $50bn of global energy investments in 2026—over 8% of the worldwide total. She highlighted that regional collaboration, strengthened gas and power infrastructure, and platforms like the African Petroleum Regulators’ Forum are transforming energy development across the continent.
Eyesan also emphasized the importance of indigenous financing in Africa’s energy sector, pointing to the recently established Africa Energy Bank in Nigeria as a milestone. Alongside attracting international investors, nurturing domestic capital is crucial for stability and long-term energy security. “Domestic capital brings stronger commitment and stability, creating more opportunities for development,” she said.
In addition to the 2025 licensing round, NUPRC is finalizing awards from the 2024 oil bid round, which saw 25 of 31 blocks successfully bid for. Eyesan highlighted that African independent operators are increasingly participating in Nigeria’s upstream sector, reflecting growing confidence in the country’s regulatory environment. With structured licensing, regulatory consistency, and regional cooperation, Nigeria aims to strengthen its upstream sector and contribute significantly to Africa’s energy security.
source: punch