The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved more than $57 billion in Field Development Plans (FDPs), some of which have translated to Final Investment Decisions.

The commission said that 22 major offshore projects are expected between 2026 and 2030 with an estimated investment potential of between $30 billion and $50 billion.

Its Chief Executive, Mrs Oritsemeyiwa Eyesan, revealed this at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026), held in Lagos.

Represented by the Executive Commissioner, Development and Production, Engineer Enorense Amadasu, Eyesan said the investments are expected to increase production, create jobs and strengthen energy security.

She said: “Since 2024, the NUPRC has approved over US$57 billion in Field Development Plans (FDPs), some of which have translated to Final Investment Decisions. Twenty-two (22) major offshore projects are expected between 2026 and 2030 with an estimated investment potential of $30–$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.”

“Besides developing its proven reserves, Nigeria is building a resilient energy future by maintaining a strong pipeline of exploration opportunities that will sustain long-term growth and energy security.”

She added that since 2022, successive licensing rounds have opened access to some of Nigeria’s most prospective oil and gas acreages, referring to the recent 2025 Licencing Round where 31 companies emerged successful bidders for 37 oil and gas blocks after progressing through a robust, data-driven and technology-enabled evaluation process.

Eyesan also said the 2026 Licencing Round which is set to commence soon is showing greater promise, thanks to the transparency that has characterised licensing rounds.

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“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 stated.

She however noted that infrastructure deficit has continued to undermine Africa’s promising potential, stating that Nigeria is addressing the challenge through a series of strategies.

Beyond the infrastructure strategies, the NUPRC boss said stronger collaboration among government, security agencies, operators, host communities and private partners as well as the Host Community Development Trust (HCDF) had led to an improvement in the protection of critical energy assets which had made Nigeria’s upstream sector more resilient.

“We are expanding gas gathering systems, processing facilities, pipelines and export infrastructure, while promoting shared facilities, open access, third-party access and field tiebacks to reduce costs, speed up project delivery, maximise the use of existing infrastructure and help bring stranded oil and gas resources into production.”