Fresh oil and gas developments approved this year are expected to boost Nigeria’s output by 600,000 barrels per day (bpd) of crude and over 2 billion standard cubic feet of gas daily, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Commission Chief Executive (CCE), Gbenga Komolafe, disclosed the figures at the 2025 World Energies Summit convened by Frontier Energy Network in London.
The approvals cover 28 Field Development Plans (FDPs) cleared by the Commission so far this year.
According to Komolafe, the new projects will unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas, backed by $18.2 billion in committed Capital Expenditure (CAPEX).
“In 2025 alone, 28 new Field Development Plans have already been approved, unlocking an additional 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas,” Komolafe said.
“These projects are expected to add nearly 600,000 barrels of oil per day and more than 2 billion standard cubic feet of gas per day, supported by $18.2 billion in committed CAPEX.”
The development was described as evidence of renewed investor confidence.
“Together, these outcomes demonstrate that Nigeria’s upstream sector is not only on a growth trajectory but is also attracting the scale of investment needed to sustain its role as a premier global energy hub.” Komolafe stated.
Reforms drive investor interest
NUPRC urged investors to take advantage of opportunities ahead of Nigeria’s next Block Licensing Round, noting that the upstream environment is being restructured to encourage broader participation.
Beyond licensing, NUPRC has intensified data acquisition campaigns to support exploration and ensure operators have access to vital geological information needed to make new discoveries.
Nigeria’s upstream activity has also increased, supported by ongoing field developments and new drilling operations across several basins.
“Rig activity, for instance, has surged from just 8 in 2021 to 70 today, out of which 41 are drilling on site. Production has also risen from 1.46 million barrels per day in October 2024 to around 1.8 million barrels per day,” Komolafe said.
Major Final Investment Decisions, such as the $5 billion Bonga North and $500 million Ubeta Gas Project, have further strengthened investor confidence, with more projects expected in the months ahead.
Komolafe stressed that Nigeria’s ongoing reforms are designed to keep the upstream sector competitive and attractive to both local and foreign investors.
“This has led to bold reforms aligned with the country’s transition strategy, which is the Decade of Gas,” he stated.
The Commission’s engagement at the London summit forms part of efforts to showcase investment ready assets and strengthen partnerships ahead of the next licensing round.
