NUPRC Reforms Unlock $10bn in Upstream Oil and Gas Investment
Mrs Oritsemeyiwa Eyesan, CEO of the Nigerian Upstream Petroleum Regulatory Commission, spoke at the Society of Petroleum Engineers Nigeria Council’s Oloibiri Lecture Series and Energy Forum 2026 in Abuja. She explained that 19 regulations have been gazetted, with five more underway, to replace discretionary approvals with clear timelines. This clarity enabled final investment decisions on major projects like Bonga North, Ubeta and HI. Eyesan highlighted fiscal incentives, streamlined licensing and performance-based frameworks as key drivers that attracted over $10 billion in new upstream investment. She also noted the commission’s digital-first approach. Integrated platforms, digital twins and advanced analytics are improving efficiency, transparency and investor confidence.
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