The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has urged global investors to capitalize on opportunities in Nigeria’s 2025 licensing round, emphasizing that recent reforms under the Petroleum Industry Act 2021 provide a predictable, transparent, and investor-friendly framework for upstream development.

The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, made this known on Tuesday, February 10, 2026, in her address at the opening of the 10th Anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos.

According to Eyesan, the licensing round is designed to unlock Nigeria’s upstream potential under a more predictable and investor-friendly regulatory framework established by the Petroleum Industry Act (PIA) 2021.

The NUPRC boss added that Nigeria is leveraging the momentum of renewed global interest in Africa’s hydrocarbons to attract credible investors into its upstream sector.

“To facilitate resource access, Nigeria has launched the 2025 licensing round, offering 50 oil and gas blocks across various terrains.

“This initiative reflects a targeted approach to responsible resource development. We invite capable investors to participate and help realize Nigeria’s promising upstream potential,” Eyesan stated.

She noted that Africa’s energy investment outlook has significantly improved over the past three years, with the continent now capturing a larger slice of global capital expenditure.

“Of the $520 billion projected in worldwide capital investment this year, Africa expects to attract between $48 billion and $50 billion. over 8% of the total. This is a significant increase from previous years when it was below 4%.”

The NUPRC boss attributed the resurgence to renewed investor interest in frontier and established basins, particularly in Nigeria, Namibia, Mozambique and other prolific African plays.

Beyond foreign investment, Eyesan stressed the importance of domestic and regional capital formation as a stabilizing force for Africa’s energy future.

“As we work to draw in more external investment, encouraging capital formation within Africa remains essential. Domestic capital brings stronger commitment and stability, creating more opportunities for development,” the CCE said.

Eyesan noted that African independent operators are already playing a growing role in Nigeria’s upstream space, driving project execution and capital deployment.

A major milestone in strengthening indigenous financing, according to Eyesan, is the establishment of the Africa Energy Bank, which is headquartered in Nigeria.

“The creation of the Africa Energy Bank, proudly hosted in Nigeria, is a milestone,” she said, adding, “Unified support from stakeholders will be crucial to its success.”

The NUPRC boss also highlighted the growing impact of regional cooperation, particularly in gas development, power infrastructure and regulatory alignment.

“Beyond national efforts, regional cooperation is having a transformative effect,” she said, pointing to expanded gas and power infrastructure that is improving energy access, reliability and affordability across Africa.

She added that platforms such as the African Petroleum Regulators’ Forum (AFRIPERF) are strengthening Africa’s collective voice globally.

The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has called for the strengthening of the African Petroleum Regulators’ Forum (AFRIPERF) as a critical platform for harmonizing energy regulation across the continent and unlocking large-scale investment in Africa’s oil and gas sector.

The NUPRC boss made the call in her keynote address at the Nigerian International Energy Summit (NIES), held at the International Conference Centre (ICC) on Monday, February 2, 2026.

Eyesan, represented by NUPRC Director, Mr. Edu Inyang, spoke on the theme “One Africa, One Regulator Voice: Aligned Policies for Continental Prosperity and Investment.”

She said inconsistent regulatory frameworks across African countries remain a major deterrent to cross-border energy projects, stressing that a unified regulatory voice would significantly lower investment risks and accelerate development.

“Investors are not deterred by Africa’s geology; they are deterred by inconsistent rules,” the NUPRC boss stated.

“AFRIPERF was established to institutionalize regulatory convergence, provide predictability, and enable faster execution of cross-border projects that deliver shared prosperity.”

According to Eyesan, AFRIPERF, which was launched in collaboration with petroleum regulators across the continent, is already advancing aligned standards, shared data platforms, capacity building and a unified African voice on global energy and climate platforms.

She explained that Africa’s prospects for shared prosperity are underpinned by the scale of its natural and human capital, noting that the continent holds approximately 8% of global oil and gas reserves, nearly 30% of known critical mineral resources, and a population exceeding 1.5 billion people, which is largely youthful and economically active.

“When these advantages are developed through coordinated policies, integrated infrastructure and aligned regulatory frameworks, they can drive industrialization, strengthen regional value chains, enhance energy security and deliver inclusive growth,” Eyesan said.

She reaffirmed that oil and gas resources remain integral to Africa’s development, supporting electricity generation, clean cooking, petrochemicals, fertilizer production and public revenues that fund infrastructure and social services, even as the continent pursues a just and orderly energy transition.

Eyesan highlighted Africa’s success in speaking with one voice at global platforms, including successive COP meetings, where coordinated advocacy secured recognition of Africa’s unique development needs and the role of gas as a transition fuel. She noted that similar unity helped secure the historic Loss and Damage Fund at COP27 in Sharm el-Sheikh.

Drawing attention to practical examples of cooperation, she cited the African Continental Free Trade Area (AfCFTA), regional power pools, and cross-border gas infrastructure such as the West African Gas Pipeline as evidence that policy alignment accelerates development and expands access to affordable energy.

She also pointed to missed opportunities, noting that over 180 trillion cubic feet of discovered natural gas across Africa remains unsanctioned for development, largely due to fragmented markets and unaligned fiscal and regulatory regimes.

“Nigeria has taken deliberate steps to lead by example,” Eyesan said, referencing the Petroleum Industry Act (PIA) 2021, ongoing transparent licensing rounds, and major gas infrastructure projects including the AKK pipeline, the Nigeria–Morocco Gas Pipeline and the revived Trans-Saharan Gas Pipeline.

The CCE added that the Africa Energy Bank, headquartered in Nigeria, is mobilizing African capital for African energy projects, helping to bridge financing gaps left by global capital withdrawal.

In her closing remarks, Eyesan urged African regulators and policymakers to deepen cooperation by strengthening AFRIPERF, expanding regional gas and electricity networks, adopting shared sustainability standards and maintaining a unified African stance in global energy and climate discussions.

“Our voice must be one, our frameworks aligned, and our actions coordinated,” she said. “Only then can we unlock the full transformative power of Africa’s resources for our people.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has provided further clarification for the ongoing licensing round, especially for bidders interested in the 50 oil and gas blocks on offer.

According to the Commission's Chief Executive, Mrs. Oritsemeyiwa Eyesan, only applicants with strong technical and financial credentials will proceed to the critical stage of the bidding process.

Eyesan said this at the 2025 licensing round pre-bid webinar on Wednesday, January 28, 2026.

She said, “The process follows five steps: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.

“Only candidates with strong technical and financial credentials, professionalism, and credible plans move forward. Winners are chosen through a transparent, merit-based procedure.”

The NUPRC boss noted that with the approval of His Excellency, President Bola Ahmed Tinubu, signature bonuses for the 2025 licensing round are now set within a value range that reduces entry barriers and places greater weight on what truly matters: technical capability, credible work programs, financial strength, and the ability to deliver production within the shortest possible time.

“This has been done to increase competitiveness and in response to capital mobility,” the CCE stated.

Eyesan described the licensing round as an open call for committed partners; those ready to invest capital, bring technical excellence, and accelerate Nigeria’s assets from license award to exploration, appraisal, and ultimately, full production.

The NUPRC boss restated the Commission’s commitment to a transparent licensing round, insisting that Nigeria is “ready to be the beautiful bride to capital and playroom for advanced technological deployment for hydrocarbon recovery.”

She added, “In this licensing round, 50 oil and gas blocks across Nigeria are available, allowing investors to access the country's key basins and create long-term value.”

Eyesan further assured the public that the bid process will comply with the Petroleum Industry Act, promote the use of digital tools for smooth data access and remain open to public and institutional scrutiny through the Nigeria Extractive Industries Transparency Initiative (NEITI) and other oversight agencies.

“Let me emphasize that the Nigeria 2025 Licensing Round is not merely a bidding exercise. It is a clear signal of a re-imagined upstream sector, anchored in the rule of law, driven by data, aligned with global investment realities, and focused on long-term value creation,” the NUPRC boss said.

During the webinar, subject matter experts from the NUPRC explained the guidelines, model contracts, bid parameters, and evaluation criteria in order to help investors navigate uncertainty and operate within a framework that is transparent, predictable, and deliberately designed to inspire confidence.

Eniola Akinkuotu

Head, Media and Strategic Communication

STATEHOUSE PRESS RELEASE

Engineers Farouk Ahmed, Gbenga Komolafe resign, President Tinubu nominates successors to the Senate for approval

President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).

To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.

The two nominees are seasoned professionals in the oil and gas industry.

Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.

Engineer Saidu Aliyu Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor's in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.

His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.

He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).

Engineer Mohammed played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.

Bayo Onanuga

Special Adviser to the President

(Information and Strategy)

December 17, 2025