Nigeria’s upstream regulator has approved more than $57 billion in field development plans since 2024, with at least 22 offshore oil and gas projects expected to begin production by 2030 as Africa’s largest oil producer moves to nearly double its crude output.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) — the upstream regulator created under Nigeria’s landmark 2021 Petroleum Industry Act (PIA) — granted the approvals to allow several projects to progress toward final investment decisions. The planned developments are expected to expand Nigeria’s upstream infrastructure and lift overall oil and gas production volumes.
The 22-project pipeline could unlock up to $50 billion in fresh investment, according to reports, as Abuja works to raise crude production to 3 million barrels per day by 2030 — a target that would represent a near-doubling of current output levels.
The PIA, enacted in 2021, reshaped Nigeria’s upstream sector by restructuring its fiscal framework, establishing the NUPRC as the dedicated upstream regulator, and converting the national oil company into a commercial entity. Those reforms have improved regulatory certainty and made upstream projects more commercially attractive to international capital.
To rebuild investor confidence and expand access to new acreage, the NUPRC awarded 37 oil and gas blocks to 31 companies during its 2025 licensing round. Preparations for a further licensing round in 2026 are already underway, signalling continued momentum in Nigeria’s upstream opening.
For international energy investors and African upstream professionals, the scale of approvals and the structured licensing pipeline represent a meaningful shift in Nigeria’s regulatory posture. The country has long held some of the continent’s largest proven reserves but has struggled in recent years with production declines driven by crude theft, ageing infrastructure, and investor uncertainty.
The 2030 production target and the volume of approved field development plans suggest Nigeria is betting that regulatory reform, combined with new acreage awards, can reverse that trajectory and reposition the country as a primary destination for upstream oil and gas capital in sub-Saharan Africa.
