The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says sweeping regulatory reforms in the upstream oil and gas sector have unlocked investments exceeding 10 billion dollars.
The commission’s Chief Executive, Oritsemeyiwa Eyesan, disclosed this on Thursday in Abuja during the Society of Petroleum Engineers Nigeria Council’s Oloibiri Lecture Series and Energy Forum 2026.
Eyesan explained that the agency had so far gazetted 19 regulations, while work was ongoing on five additional ones, all targeting key segments of the upstream petroleum industry.
She noted that the new regulatory framework, developed in collaboration with operators, service providers and investors, has replaced uncertainty with clear guidelines, reduced ambiguity and introduced definite timelines for approvals.
According to her, the reforms have already begun yielding tangible results across major projects such as Bonga North, Ubeta and HI developments.
Highlighting the impact on Bonga North, Eyesan said the deepwater project progressed significantly due to improved fiscal clarity and faster approval processes enabled by the Petroleum Industry Act and relevant Executive Orders.
“The predictable regulatory environment reduced investment risks and supported partners to take a multi-billion-dollar Final Investment Decision,” she said.
On the Ubeta gas project, she stated that fiscal incentives, simplified licensing procedures and transparent approval systems played a critical role in accelerating progress.
She added that the reforms had removed long-standing bottlenecks, enabling quicker project execution and supporting Nigeria’s gas supply targets.
Eyesan further explained that the HI development benefitted from a newly introduced asset stewardship framework and performance-based work programmes.
“The framework ensures sound reservoir management and improved recovery techniques to maximise value and deliver sustainable outcomes.
“Collectively, these projects represent over $10 billion in new upstream investment and highlight the importance of clear policy and firm regulation,” she added.
The NUPRC boss also underscored the role of digitalisation in transforming regulatory processes, noting that the commission had adopted a digital-first approach to approvals, reporting and compliance.
She said integrated digital platforms were enhancing speed, transparency, accountability and real-time visibility for operators across the industry.
Eyesan added that emerging technologies, including digital twins, predictive maintenance and advanced analytics, were improving operational efficiency and boosting asset performance.
She emphasised that the commission was developing regulations to promote data integrity, interoperability and standardisation across the sector.
“Such measures are essential to fostering innovation, strengthening investor confidence and sustaining competitiveness,” she said.
