Nigeria and other African countries are projected to attract more than $50bn in energy investments this year, as renewed global interest boosts the continent’s role in the evolving energy landscape, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said.
The Chief Executive of the Commission, Mrs Oritsemeyiwa Eyesan, disclosed this while welcoming delegates to the 2026 Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC).
According to her, Africa’s share of global energy capital expenditure has risen significantly over the past three years, signalling a strong recovery in investor confidence.
Eyesan said of the estimated $520bn projected for global energy capital investment this year, Africa is expected to attract between $48bn and $50bn, representing over eight per cent of the total.
She noted that this marks a sharp improvement from previous years when the continent accounted for less than four per cent of global energy investment.
She attributed the resurgence to renewed exploration and production activities in countries such as Nigeria, Namibia, Mozambique and other prolific African basins, adding that the trend presents both opportunities and responsibilities for African nations.
“This momentum reflects renewed confidence in Africa’s energy potential. However, sustaining it will depend on our ability to attract and retain capital, deploy advanced technology, develop our workforce and maintain governance frameworks that are predictable, stable, transparent and rules-based,” Eyesan said.
She stressed the importance of strengthening domestic capital formation alongside foreign investment, noting that African-owned energy companies are increasingly driving project development, particularly in Nigeria.
In this regard, she highlighted the establishment of the Africa Energy Bank, hosted in Nigeria, as a major milestone that would support long-term energy financing on the continent.
The NUPRC chief also underscored the role of technology in improving efficiency in mature basins, unlocking prospects in frontier areas and reducing risks in complex operating environments.
She called for increased technology transfer within Africa, particularly in seismic imaging, drilling techniques and petroleum operations, to ensure sustainable industry growth.
On governance and regulation, Eyesan said investor interest alone would not translate into final investment decisions without strong institutional frameworks. She pointed to Nigeria’s Petroleum Industry Act (PIA) 2021 as a key reform that has addressed longstanding regulatory uncertainties and improved transparency and investor confidence in the upstream sector.
As part of efforts to expand resource development, she disclosed that Nigeria has launched its 2025 licensing round, offering 50 oil and gas blocks across various terrains, and invited credible investors to participate.
Eyesan also highlighted the growing impact of regional cooperation through initiatives such as the African Petroleum Regulators’ Forum (AFRIPERF), which she said is helping to align policies, promote energy justice and strengthen Africa’s collective voice globally.
She described SAIPEC 2026 as a platform for collaboration, investment attraction and solution-driven engagement, urging stakeholders to leverage the renewed interest in Africa’s energy sector to deliver sustainable growth, shared prosperity and long-term energy security for the continent and beyond.
