Nigeria’s upstream petroleum sector is on course for a major production boost, with 28 new Field Development Plans (FDPs) approved in 2025 expected to deliver an additional 600,000 barrels of oil per day and more than 2 billion standard cubic feet of gas daily, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Commission’s Chief Executive, Gbenga Komolafe, disclosed this at the 2025 World Energies Summit hosted by Frontier Energy Network in London. In a statement signed by Eniola Akinkuotu, Head of Media and Strategic Communication at the NUPRC, Komolafe said the administration of President Bola Tinubu is implementing bold reforms to turn energy transition pressures into new opportunities for growth and investment.
“In 2025 alone, 28 new Field Development Plans have already been approved, unlocking an additional 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas,” Komolafe said. “These projects are supported by $18.2 billion in committed CAPEX and demonstrate that Nigeria’s upstream sector is not only growing but attracting global-scale investments.”
He urged investors to take advantage of the upcoming Block Licensing Round, noting that Nigeria’s upstream industry has been repositioned for transparency, competitiveness, and sustainable returns.
Komolafe highlighted the progress made under the Petroleum Industry Act (PIA) 2021, which introduced investor-friendly fiscal policies and governance reforms to boost confidence in the sector. Since its establishment, the NUPRC has issued 24 new regulations aligned with global standards to stabilize the operating environment.
The CCE also pointed to a surge in operational activity — with rig count rising from 8 in 2021 to 70 in 2025, of which 41 are currently active. Oil production has grown from 1.46 million barrels per day in October 2024 to about 1.8 million barrels per day this year, reflecting renewed investor engagement.
He cited recent major Final Investment Decisions (FIDs) — including the $5 billion Bonga North and $500 million Ubeta Gas Project — as clear indicators of long-term confidence in Nigeria’s energy sector.
Komolafe reaffirmed that energy transition for Africa is primarily a question of energy security, stressing that Nigeria’s Decade of Gas initiative anchors its transition strategy. Through this framework, the country is pursuing gas expansion, carbon capture, and market-driven decarbonisation initiatives to ensure a just and sustainable energy future.
“Nigeria is embedding climate responsibility at the heart of its upstream reforms through a robust Decarbonisation Framework that integrates MRV systems, carbon capture and storage, and access to carbon markets,” he said.
He also noted that implementation of the Host Communities provisions of the PIA has strengthened trust between oil firms and host areas, improving cooperation and operational efficiency.
The NUPRC chief concluded by reaffirming Nigeria’s readiness for its next phase of exploration and investment:
“Investors now have unprecedented access to both mature and frontier basins, supported by favourable fiscal terms,” Komolafe said. “As we prepare to launch Nigeria’s next Block Licensing Round, I invite our local and global partners to join us on this journey.”