Upstream Oil Regulator Attracts $4.9bn Gas Investment, Unveils Road Map

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has attracted $4.9 cardinal superior expenditure (CAPEX) investments and unlocked astir 9,790 BSCF of reserves, 3.54 BSCF/D of gas, into the country’s state manufacture since the implementation of the Petroleum Industry Act (PIA) successful 2021.
The regulator has besides unveiled regulatory roadworthy representation targeting to unlock implicit 55 trillion cubic feet of uncommitted state reserves and attracting billions of dollars successful caller investments into the nation’s state worth chain

The committee main executive, Engr. Gbenga Komolafe, who disclosed this portion speaking astatine the 3rd Gas Investment Forum held successful Lagos, said the NUPRC had approved implicit 25 Non-Associated Gas (NAG) Field Development Plans,

Komolafe, who was represented by the enforcement commissioner, Development and Production, Engr. Enorense Amadasu, outlined the Commission’s strategical absorption connected driving state development, monetisation, and infrastructure enlargement to unafraid Nigeria’s vigor aboriginal and enactment economical transformation.

According to him, Nigeria’s proven state reserves presently basal astatine 210.54 trillion cubic feet (TCF) comprising 109.51 TCF of Non-Associated Gas (NAG) and 101.03 TCF of Associated Gas (AG). Of this, astir 55 TCF representing 26 percent of full state reserves remains uncommitted to existing oregon planned monetisation projects, signalling a monolithic concern accidental for some home and planetary investors.

Amadasu noted that with an yearly mean regular state accumulation of 6.99 cardinal modular cubic feet (BSCF/D) successful 2024, Nigeria’s Reserves Replacement Ratio (RRR) stands astatine 1.56, portion the Reserves Life Index (RLI) is astir 92.7 years an denotation of semipermanent sustainability for investors successful the country’s state sector.

The nationalist state reserves, helium said, grew from 208.83 TCF successful 2023 to 210.54 TCF successful 2025, portion state accumulation roseate from 6.91 BSCF/D to 7.61 BSCF/D, reflecting dependable maturation crossed the worth chain. The home marketplace presently accounts for astir 28 percent of full state utilisation, portion exports via LNG and WAGP instrumentality up 35 percent, and tract usage including state assistance and reinjection represents 29 percent.

On Policy Reforms and Regulatory Milestones, Engr. Amadasu enumerated respective regulatory instruments that person shaped Nigeria’s state improvement journey, including the Associated Gas Re-injection Act (1979), National Gas Policy (2008), Flare Gas (Prevention of Waste and Pollution) Regulations (2018), Decade of Gas Initiative, and the landmark Petroleum Industry Act (PIA) 2021.

Recent instruments specified arsenic the Domestic Gas Delivery Obligation Regulations (2022), the Gas Flaring, Venting and Methane Emissions Regulations (2023), and the Oil and Gas Companies (Tax Incentives) Order (2024) further consolidate the Commission’s pro-investment posture.

Since the enactment of the PIA, the Commission has approved implicit 25 Non-Associated Gas (NAG) Field Development Plans, unlocking astir 9,790 BSCF of reserves, 3.54 BSCF/D of gas, and attracting implicit 4.9 cardinal dollars successful CAPEX investments.

He further disclosed that the Commission is actively facilitating regulatory approvals and negotiations for upstream state proviso to large projects specified arsenic NLNG Train 7, the Ajaokuta–Kaduna–Kano (AKK) Pipeline, and the Brass Fertilizer and Petrochemical Project.

Engr. Amadasu besides observed that, NUPRC is presently monitoring 19 progressive state improvement projects, comprising 10 accumulation facilities and 9 pipeline projects, with a combined capableness of 3.55 BSCF/D. About 88 percent of these projects are successful the engineering phase, portion 12 percent person progressed to operation oregon fabrication.

He explained that 86 percent of the caller state accumulation projects are targeted astatine the export market, peculiarly provender state proviso to the Nigerian LNG, portion 23 percent (142 MMSCFD) are directed toward the home market.

Mr Amadasu emphasised that the NUPRC’s regulatory roadworthy representation aligns with the Federal Government’s National Gas Policy and Energy Transition Plan, which prioritise decarbonisation, cleanable vigor adoption, and inclusive economical growth.

According to him, the Commission is intensifying efforts to pull caller investments by eliminating introduction barriers done the drill oregon driblet proviso successful the PIA, driving afloat implementation of the Decade of Gas Initiative, facilitating entree to fiscal incentives, promoting clump and nodal state infrastructure development, and Organising a Gas Production Ramp-up Strategy Workshop successful Q4 2025.

He concluded by reaffirming that Nigeria stands astatine a pivotal juncture successful its vigor travel 1 that demands innovation, collaboration, and sustainable investment.