FG eyes $50bn investments from 22 offshore projects
Nigeria’s Federal Government anticipates $50bn in offshore oil investments from 22 major projects by 2030, boosting production and creating jobs. Read More: https://punchng.com/fg-eyes-50bn-investments-from-22-offshore-projects/
The Nigerian upstream oil and gas sector is set to attract $30bn to $50bn in offshore investments over the next five years, as the country aims to increase production capacity through 22 major offshore projects, according to the Federal Government's Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The NUPRC's Chief Executive, Oritsemeyiwa Eyesan, disclosed this at the Society of Petroleum Engineers' Nigeria Annual International Conference and Exhibition 2026, stating that these investments would not only boost crude oil production but also create jobs, expand critical infrastructure, and strengthen energy security.
The commission attributes the growing investor confidence to reforms introduced under the Petroleum Industry Act and its efforts to make licensing and project approvals more transparent.
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