The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved 28 Field Development Plans (FDPs) across the country’s oil and gas sector, marking a major milestone in efforts to boost national crude oil and gas production capacity.
According to the Chief Executive of NUPRC, Engr. Gbenga Komolafe, the approvals are expected to unlock an estimated 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas, while attracting about $18.2 billion in capital investment into the Nigerian upstream sector.
Komolafe, who disclosed this at the 2025 World Energies Summit in London, said the newly approved projects would deliver an additional 600,000 barrels of oil per day and more than 2 billion standard cubic feet of gas per day when fully operational.
He explained that the surge in project approvals and investment reflects the growing confidence of investors in Nigeria’s oil and gas industry, following reforms introduced under the Petroleum Industry Act (PIA) 2021.
“The Commission has implemented key regulatory initiatives that have restored transparency, stability, and investor confidence. We are witnessing a transformation that is positioning Nigeria as a leading destination for energy investment in Africa,” Komolafe said.
The NUPRC boss highlighted a significant increase in drilling activity, noting that the number of active rigs has risen from 8 in 2021 to about 70, with 41 currently operational. Nigeria’s daily crude oil production, he added, has also climbed from 1.46 million barrels in October 2024 to nearly 1.8 million barrels per day in 2025.
Among the major projects contributing to this growth are the $5 billion Bonga North deepwater development and the $500 million Ubeta Gas Project, both of which recently reached Final Investment Decision (FID).
Komolafe emphasized that Nigeria’s energy transition strategy is designed to be gradual and pragmatic, ensuring that hydrocarbons continue to play a critical role in national development while adopting global best practices in decarbonization, carbon capture, and emissions monitoring.
He also reaffirmed the Commission’s commitment to implementing the Host Communities Development Trusts, ensuring that oil-producing areas directly benefit from upstream operations and experience improved social and economic outcomes.
The NUPRC chief encouraged both local and international investors to participate in the forthcoming Licensing Round, which will open up additional opportunities across frontier basins and mature fields under competitive and transparent conditions.
“Nigeria’s upstream sector is entering a new phase of growth, driven by strong regulatory support, fiscal clarity, and investor partnerships. We are determined to build a sustainable, diversified, and globally competitive oil and gas industry,” Komolafe added.
With the 28 new Field Development Plans now approved, stakeholders say the industry is set for renewed momentum that could accelerate Nigeria’s journey toward achieving and sustaining higher production targets, enhance gas monetization, and strengthen energy security.
