The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that 28 Field Development Plans (FDPs) approved in 2025 will add 600,000 barrels of oil per day and over 2 billion standard cubic feet of gas daily, backed by $18.2 billion in capital expenditure. NUPRC Chief Executive Gbenga Komolafe, speaking at the 2025 World Energies Summit in London, highlighted these projects as unlocking 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas.
Komolafe emphasized Nigeria’s upstream sector growth, with rig activity rising from 8 in 2021 to 70 in 2025, and oil production increasing from 1.46 million to 1.8 million barrels per day. Major investments, like the $5 billion Bonga North and $500 million Ubeta Gas Project, reflect investor confidence. The Petroleum Industry Act (PIA) of 2021, supported by three 2024 Executive Orders, has introduced transparent, investor-friendly policies.
Komolafe noted Nigeria’s decarbonization efforts, including carbon capture and a robust Host Communities framework under the PIA, fostering trust and operational efficiency. With upcoming licensing rounds, he invited investors to explore Nigeria’s mature and frontier basins, positioning the country as a global energy hub.
