The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reached out to global investors with an invitation to engage in the country's 2025 oil and gas licensing round. During the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) held in Lagos, NUPRC's Chief Executive Oritsemeyiwa Eyesan highlighted the reforms implemented under the Petroleum Industry Act (PIA) of 2021. These reforms are intended to create a more predictable, transparent, and investor-friendly environment for upstream oil and gas development in Nigeria.

Eyesan stated that the upcoming licensing round is crucial for unlocking Nigeria's substantial upstream oil potential. She outlined that the reforms under the PIA have notably improved regulatory certainty, which is an essential factor for attracting foreign investments. This initiative is part of Nigeria's broader strategy to reposition itself as a competitive destination for hydrocarbon investments in Africa, attracting both domestic and international players in the oil and gas sector.

By promoting these reforms, the NUPRC aims to assure potential investors of the favorable conditions established for upstream operations. The emphasis on transparency and regulatory predictability is expected to facilitate increased participation from global investors, positioning Nigeria as a leader in the African hydrocarbon market. The licensing round is anticipated not only to drive investment but also to encourage technological advancements and local capacity building in Nigeria’s oil and gas sector.