Africa: “Africa will attract investments worth $50 billion in oil and gas”
The Nigerian Petroleum Regulatory Commission (NUPRC) has stated that Africa is expected to attract between $48 billion and $50 billion in the oil and gas sector in 2026.
Speaking at the opening of the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026, NUPRC Chief Executive Officer, Oritsimiwa Esan, said the figure is from an expected $520 billion in global capital investment this year.
She said that Africa’s share is more than 8% of total investment, which is a significant increase from previous years when it was less than 4%.
She attributed this rise to renewed investor interest in border basins and existing basins, especially in Nigeria, Namibia, Mozambique and other abundant African plays.
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She also urged global investors to take advantage of opportunities in Nigeria’s 2025 licensing round, stressing that recent reforms under the Petroleum Industry Act 2021 provide a predictable, transparent and investor-friendly framework for upstream development.
She said the licensing round is designed to unlock Nigeria’s exploration and production potential under a more predictable and investor-friendly regulatory framework created by the Petroleum Industry Act (PIA) 2021.
The NUPRC Chairman added that Nigeria is leveraging the momentum of renewed global interest in hydrocarbons in Africa to attract credible investors to the exploration and production sector.
“To facilitate access to resources, Nigeria has launched the 2025 licensing round, which offers 50 oil and gas blocks across various terrains.
“This initiative reflects a targeted approach to responsible resource development. We invite qualified investors to participate and help realize Nigeria’s promising exploration potential,” Esan stated.
“As we work to attract more external investment, encouraging capital formation within Africa remains essential. Domestic capital brings stronger commitment and stability, and creates more opportunities for development,” CCE said.
Esan noted that independent African operators are already playing an increasing role in Nigeria’s upstream space, leading project implementation and capital deployment.
“The establishment of the African Energy Bank, which Nigeria proudly hosts, is a major milestone,” she said, adding that “unified support from stakeholders will be crucial to its success.”
The NUPRC Chairman also highlighted the growing impact of regional cooperation, particularly in gas development, energy infrastructure and regulatory harmonization.
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“Alongside national efforts, regional cooperation is having a transformative impact,” she said, noting the expansion of gas and power infrastructure that is improving energy access, reliability and affordability across Africa.
She added that platforms such as the African Petroleum Regulators Forum (AFRIPERF) are working to strengthen Africa’s collective voice globally.
Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Ogbe called for cooperation to advance oil and gas investments in Africa.
“We must collectively build on the Brazzaville Agreement to strengthen regulatory coordination, sectoral cooperation and take an Africa-focused approach to local content development.”
