NUPRC Highlights Faster Approvals, Fresh Investments in Upstream Oil Sector
ABUJA — The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says ongoing regulatory reforms are improving investor confidence in Nigeria’s upstream oil and gas sector through faster approvals, fresh investments and a more business-friendly operating environment.
Speaking at the Nigeria Oil and Gas (NOG) Energy Conference 2026, the Commission Chief Executive, Oritsemeyiwa Eyesan, said the regulator has evolved beyond its traditional oversight role to become a business enabler focused on promoting efficiency, transparency and investment.
Eyesan said one of the key achievements of the reforms is the significant reduction in approval timelines, with some regulatory permits now processed within 24 hours.
According to her, the streamlined process is reducing operational bottlenecks, improving the ease of doing business and giving investors greater certainty in project execution.
She noted that the reforms are aligned with the Federal Government’s efforts to attract more investment into Nigeria’s oil and gas industry while ensuring effective regulation of the country’s hydrocarbon resources.
Eyesan cited the recent $1 billion investment commitment by Esso Exploration and Production Nigeria Limited and its partners for the Usan Infill Project in Oil Mining Lease (OML) 138 as evidence of renewed investor confidence in the sector.
She said the project, which marks the company’s first drilling campaign in about a decade, reflects positive investor response to reforms introduced under the Petroleum Industry Act (PIA) and the Commission’s regulatory initiatives.
According to her, the investment underscores Nigeria’s competitiveness as a destination for upstream oil and gas investments despite increasing competition from other oil-producing countries.
The NUPRC chief also said the award of Petroleum Prospecting Licences (PPLs) to successful bidders in the 2024 licensing round is expected to trigger another wave of investments in the industry.
She explained that the licences would stimulate exploration activities, boost hydrocarbon reserves, create jobs and support economic growth through increased upstream investments.
Eyesan reaffirmed the Commission’s commitment to ensuring that licence awards translate into field development and production in line with the objectives of the Petroleum Industry Act.
She added that the Commission will continue to strengthen its regulatory processes to encourage efficient asset development while maintaining transparency and accountability across the upstream petroleum sector.
