Nigeria projects $30-$50 bn offshore investment by 2030

Nigeria’s upstream oil and gas sector is poised for a major influx of capital, with officials projecting between $30 billion and $50 billion in new offshore investments over the next five years. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the forecast on Wednesday, August 5, 2026, stating the funds will drive 22 major offshore projects scheduled between 2026 and 2030.

The announcement was made by NUPRC Chief Executive Oritsemeyiwa Eyesan during a keynote address delivered at the Society of Petroleum Engineers Nigeria Annual International Conference and Exhibition in Lagos. Eyesan, represented by Executive Commissioner Enorense Amadasu, said the anticipated investments are expected to significantly increase crude oil production, create thousands of jobs, expand critical infrastructure, and strengthen national energy security.

This projected investment surge follows a series of regulatory reforms. Eyesan reported that since 2024, the commission has approved over $57 billion in Field Development Plans, with several already progressing to Final Investment Decisions. She attributed renewed investor confidence to reforms enacted under the Petroleum Industry...