Nigeria has stepped up efforts to secure a strong share of the $48–$50 billion in petroleum investments expected to flow into Africa this year.
Speaking at the 10th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, invited global investors to participate in Nigeria’s 2025 licensing round.
She said the federal government designed the round to unlock upstream potential under a clearer and more predictable framework created by the Petroleum Industry Act (PIA) 2021.
2025 Licensing Round Offers 50 Blocks
Eyesan disclosed that Nigeria is offering 50 oil and gas blocks across different terrains. She described the round as a targeted move to boost responsible resource development and restore investor confidence.
According to her, reforms under the PIA have improved fiscal clarity and strengthened regulatory stability. These changes aim to reduce uncertainty and attract long-term capital.
She encouraged technically capable and financially strong investors to take advantage of the opportunity.
Africa’s Share of Global Energy Capital Rises
Global energy capital expenditure is projected to reach $520 billion this year. Africa is expected to attract between $48 billion and $50 billion, representing more than 8 percent of the total.
Eyesan said this marks a sharp rise from previous years, when Africa captured less than 4 percent of global upstream spending. She linked the increase to policy reforms and renewed exploration across the continent.
The renewed global focus on supply diversification has also supported investment flows into African hydrocarbons.
Africa Energy Bank to Support Funding
Eyesan highlighted the establishment of the Africa Energy Bank, headquartered in Nigeria, as a key financing milestone.
She said the bank will help close funding gaps created by reduced international support for fossil fuel projects. Strong collaboration among African stakeholders, she noted, will determine its success.
Regional Collaboration Strengthens Sector Growth
Eyesan also pointed to stronger regional cooperation in gas development and power infrastructure. She said regulatory alignment across borders is improving investor confidence.
Platforms such as the African Petroleum Regulators’ Forum (AFRIPERF) now help coordinate policy positions and strengthen Africa’s voice in global energy discussions.
With reforms in place and investor interest growing, Nigeria aims to convert policy stability into actual capital inflows. The 2025 licensing round will test the country’s ability to attract sustained upstream investment in a competitive global market.