Nigerian Upstream Petroleum Regulatory Commission (Nuprc) , Commission Chief Executive Mrs.Oritsemeyiwa Eyesan , has called on global investors to Invest in Nigeria’s upstream oil and gas exploration and production, Partner with Nigeria in steering offshore oil and gas innovation and Invest in sustainable and decentralized energy systems
Speaking at the 2026 Offshore Technology Conference (OTC), Energy Evolution Exchange session : The Nigerian Perspective with the theme, Steering Offshore Energy Innovation into the Future, ,” Eyesan, ,said Nigeria is endowed with oil and gas resources that will support local and global energy demand and urge international investors to “lead the next chapter of offshore innovation” in Africa’s largest oil producer.
According to her “Nigeria’s upstream is undergoing a revolution. We are not just seeking capital — we are inviting partners to co-create the future of offshore energy,” Eyesan told a packed audience of IOCs, private equity, and tech firms at NRG Center.
‘’ Our Upstream oil and gas remain the bedrock and the driver of future energy, also additional investment is required to sustain oil and gas exploration and production , and Nigeria is the perfect destination for this critical energy investment’’ she stated
She urged global investors to invest in Nigerian upstream exploration, offshore innovation, and sustainable, decentralized energy systems. Stressing that The proposal highlights Nigeria’s “Gas-First” strategy, aimed at leveraging existing oil and gas assets to fuel the nation’s transition toward net-zero goals by 2060.
Reeling out data-backed pitch, she explained that the nation has gas reserve of 85 years, 59 years of oil, and a $360–440m annual capex pipeline that makes Nigeria “the perfect destination for critical energy investment.”
According to her While global oil dropped from 38% to 30% of consumption since 1990, Nigeria’s real transition story is different. The country slashed biomass use from 74% to 49% in the same period — replacing firewood, not just decarbonizing.
“For Nigeria, the challenge is energy access and substitution, not abandonment,” Eyesan told OTC delegates. “Oil and gas have become more important in our energy mix because they are the bridge to industrialization, clean cooking, and power.
She clarified that Nigeria is not running out of hydrocarbons rather it is running toward monetization. She noted that with Gas reserves life of 85 years, it underpinning Nigeria’s “gas-first” policy and Decade of Gas initiative Oil reserves life: 59 years , supporting exports and domestic refining revival Status: Africa’s leading crude producer with a robust pipeline of near-term FIDs The message to investors: Nigeria offers OECD-grade resource longevity with emerging-market growth multiples.
On infrastructure NUPRC boss noted that the stranded gas which has been Nigeria’s Achilles’ heel is fast changing . stressing that as at today , the 127km OB3 pipeline just completed its River Niger crossing, while the Ajaokuta-Kaduna-Kano (AKK) line advances north.
She noted that the OB3 gas pipeline will unlock 2 bcf/d for power plants, fertilizer, petrochemicals, and AI data centers, also she said that Nigeria LNG Train 8 is on the horizon, building on NLNG’s “world-class model” for gas monetization. “Upstream remains the vital enabler for the power sector and broader industrialization,” Eyesan said.
She said that the Nigeria Energy Transition Plan (NETP) targets carbon neutrality via five pillars: clean cooking to replace biomass, transport electrification, industrial decarbonization, renewables scale-up, and CCUS on offshore assets.“Net Zero 2060 will co-exist with innovation-driven energy sustainability,” Eyesan noted.
She said that Nigeria is deploying CCUS to decarbonize existing offshore platforms, exploring offshore wind and ocean energy, and electrifying production facilities. The goal: cut emissions while raising output. “Additional investment is required to sustain exploration and production,” Eyesan said.
“With global climate commitments and the need for decentralized energy access, collaboration is non-negotiable.
According to her, NUPRC’s case rests on four pillars for international capital: Resource Security: 85/59-year reserve life = predictable supply in a volatile world, Policy Clarity: Gas-first policy, NGEP, Decade of Gas, PIA fiscal terms now active, Infrastructure Delivery: OB3, AKK, ANOH prove Nigeria can execute complex projects Transition Credibility: NETP + Net Zero 2060 = ESG-aligned growth, not stranded risk “The imperative for change is global,” Eyesan concluded.
She emphasised that “Nigeria is endowed with oil and gas to support local and global demand. Upstream remains the bedrock and driver of future energy. Innovation, inclusion, and collaboration will navigate this evolution.
