The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), is actively seeking global investors to capitalize on opportunities presented by Nigeria’s 2025 licensing round. This round offers 50 oil and gas blocks across various terrains.

Mrs. Oritsemeyiwa Eyesan, the Commission Chief Executive, made this call on Tuesday at the opening of the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos. She stated that the licensing round is structured to unlock Nigeria’s upstream potential within the predictable and transparent regulatory framework established by the Petroleum Industry Act (PIA) 2021. According to Eyesan, this initiative reflects a targeted approach to responsible resource management.

Eyesan emphasized that the reforms enacted under the PIA have bolstered regulatory certainty, improved transparency, and enhanced investor confidence in Nigeria’s upstream sector. She noted that Nigeria is leveraging renewed global interest in Africa’s hydrocarbons to attract credible and technically competent investors.

Africa's energy investment outlook has improved significantly over the past three years. Eyesan stated that the continent is projected to attract between $48 billion and $50 billion this year, representing over 8% of the $520 billion in projected worldwide capital investment. This is a notable increase from previous years when the continent accounted for less than 4%.

Eyesan attributed this resurgence to renewed investor appetite for both frontier and established basins, particularly in Nigeria, Namibia, Mozambique, and other prolific African plays.

Beyond attracting foreign capital inflows, Eyesan stressed the importance of strengthening domestic and regional financing to stabilize Africa’s energy future. She stated that domestic capital brings stronger commitment and stability, creating more opportunities for sustainable development.

African independent operators are playing an increasingly prominent role in Nigeria’s upstream sector, driving project execution and capital deployment. Eyesan highlighted the establishment of the Africa Energy Bank, headquartered in Nigeria, as a major milestone in indigenous financing. She called for unified support from stakeholders to ensure its success.

Eyesan also noted the growing impact of regional cooperation, especially in gas development, power infrastructure expansion, and regulatory alignment. She pointed to expanded gas and power infrastructure aimed at improving energy access, reliability, and affordability across the continent. Platforms such as the African Petroleum Regulators’ Forum (AFRIPERF) are strengthening Africa’s collective voice in global energy discourse.