Nigeria’s upcoming offshore projects could unlock $50b by 2030
Nigeria's upstream regulator expects at least 22 major offshore oil and gas projects to advance by 2030, potentially attracting between $30 billion and $50 billion in investment as the country seeks to boost production and strengthen its appeal to global investors.
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive Oritsemeyiwa Eyesan said the projects are expected to come online between 2026 and 2030, supporting higher oil and gas output, job creation, and infrastructure development.
Speaking at an event in Lagos, Eyesan said, “Since 2024, the NUPRC has approved over $57 billion in Field Development Plans, some of which have already translated into Final Investment Decisions.”
Nigeria ramps up crude production
Eyesan said the planned offshore developments could generate between $30 billion and $50 billion in investment.
“Beyond increasing production, these investments will create jobs, expand infrastructure, strengthen energy security, and reinforce Nigeria's position as a leading global upstream investment destination,” Eyesan said.
The announcement comes as Nigeria pursues a target of raising crude oil production to 3 million barrels per day by 2030 through a combination of new project approvals, exploration activity, and reforms aimed at attracting fresh capital.
Alongside advancing existing discoveries, the regulator said Nigeria is maintaining a strong exploration pipeline through successive licensing rounds designed to unlock prospective oil and gas acreage.
According to the NUPRC, 31 companies were awarded 37 oil and gas blocks during the 2025 Licensing Round following what it described as a transparent, data-driven evaluation process. Preparations for the 2026 Licensing Round are already underway.
“With preparations already underway for the 2026 Licensing Round, Nigeria is demonstrating that investment certainty is no longer an aspiration; it is becoming an enduring feature of our regulatory framework,” Eyesan said.
Expanding oil and gas infrastructure
Eyesan also outlined measures to address infrastructure challenges that have constrained upstream development, including expanding gas gathering systems, processing facilities, pipelines, and export infrastructure.
“We are expanding gas gathering systems, processing facilities, pipelines and export infrastructure, while promoting shared facilities, open access, third party access and field tiebacks to reduce costs, speed up project delivery, maximise the use of existing infrastructure, and help bring stranded oil and gas resources into production,” she added.
The NUPRC said it is promoting shared facilities, open-access infrastructure, third-party access arrangements, and field tiebacks to help reduce development costs and accelerate project timelines.
Eyesan added that greater collaboration among government agencies, operators, host communities, and private-sector partners, together with the implementation of the Host Community Development Trust, has improved the protection of critical energy infrastructure and strengthened the resilience of Nigeria's upstream sector.
