The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has stated that Africa is projected to attract between $48 billion and $50bn in the oil and gas sector in 2026.
Speaking during the opening of the 10th Anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026, NUPRC’s Commission Chief Executive, Oritsemeyiwa Eyesan, this is figure is from the $520bn projected in worldwide capital investment this year,
She said Africa’s share is over 8% of the total investment and is a significant increase from previous years when it was below 4%.
She attributed the resurgence to renewed investor interest in frontier and established basins, particularly in Nigeria, Namibia, Mozambique and other prolific African plays.
Keep up with the latest headlines on WhatsApp | LinkedIn
She also urged global investors to capitalise on opportunities in Nigeria’s 2025 licensing round, emphasising that recent reforms under the Petroleum Industry Act 2021 provide a predictable, transparent, and investor-friendly framework for upstream development.
She said 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 realise Nigeria’s promising upstream potential,” Eyesan stated.
“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.
“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.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
“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.
Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Ogbe called for collaboration to drive oil and gas investment in Africa.
“We must collectively leverage the Brazzaville Accord to promote regulatory harmonization, sectoral cooperation, and an Afro-centric approach to local content development.”