The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged global investors to take advantage of opportunities in Nigeria’s upcoming 2025 petroleum licensing round, as the country seeks to accelerate upstream development under a reformed regulatory environment.
The call was made by Oritsemeyiwa Eyesan, chief executive officer of the NUPRC, during her address at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 held on Tuesday in Lagos.
Eyesan said reforms introduced by the Petroleum Industry Act (PIA) 2021 have significantly improved Nigeria’s upstream investment climate by providing a predictable, transparent and investor-friendly framework. According to her, the licensing round is structured to unlock Nigeria’s vast hydrocarbon potential while offering investors greater regulatory certainty.
She explained that Nigeria is positioning itself to benefit from renewed global interest in Africa’s hydrocarbons, leveraging this momentum to attract credible investors into its upstream sector.
To this end, Eyesan disclosed that the 2025 licensing round will offer 50 oil and gas blocks spread across different terrains, reflecting what she described as a targeted and responsible approach to resource development. She invited capable investors to participate in the process and contribute to unlocking Nigeria’s upstream potential.
The NUPRC chief also highlighted a marked improvement in Africa’s energy investment outlook over the past three years, noting that the continent is now capturing a larger share of global capital expenditure.
She said Africa is expected to attract between $48 billion and $50 billion out of the $520 billion projected global capital investment this year—representing over 8 per cent of the total. This, she noted, is a significant rise from previous years when Africa’s share was below 4 per cent.
Eyesan attributed the resurgence to growing investor interest in both frontier and mature basins across the continent, particularly in Nigeria, Namibia, Mozambique and other prolific African hydrocarbon provinces.
Beyond foreign capital, she emphasised the importance of domestic and regional investment as a stabilising factor for Africa’s energy sector. According to her, stronger local capital participation enhances commitment, resilience and long-term development outcomes.
She noted that African independent operators are playing an increasingly prominent role in Nigeria’s upstream industry, while initiatives such as the Africa Energy Bank, which is hosted in Nigeria, represent a major milestone in strengthening indigenous financing capacity. She stressed that unified stakeholder support would be critical to the bank’s success.
Eyesan further underscored the growing benefits of regional cooperation, particularly in gas development, power infrastructure expansion and regulatory alignment. She said collaborative efforts are already improving energy access, reliability and affordability across the continent.
She added that platforms such as the African Petroleum Regulators’ Forum (AFRIPERF) are helping to amplify Africa’s collective voice on the global energy stage, reinforcing the continent’s position as an increasingly attractive investment destination.