Nigeria’s upstream oil and gas sector could attract between $30 billion and $50 billion in fresh offshore investments between 2026 and 2030 as the country seeks to unlock new production capacity through 22 major offshore projects.
The projection was disclosed by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, in a keynote address delivered on her behalf by the Executive Commissioner for Development and Production, Enorense Amadasu, during the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE) 2026 on Wednesday.
According to the commission, the planned investments are expected to significantly boost Nigeria’s crude oil production capacity while creating thousands of jobs across the upstream value chain.
The NUPRC also stated that the projects will support the expansion of critical oil and gas infrastructure, strengthen the country’s energy security, and enhance Nigeria’s attractiveness as a destination for long-term energy investments.
The commission noted that the investment pipeline forms part of broader efforts to accelerate offshore development, increase production, and maximise the country’s hydrocarbon resources over the next five years.
