Africa expects to attract between $48 billion and $50 billion energy investment from the $520 billion projected in worldwide capital investment this year, the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has said.
The figure represents over 8% of the total global investment, which is a significant increase from previous years when it was below 4%, she also said.
She spoke on Tuesday in her address at the opening of the 10th Anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos
She attributed the resurgence to renewed investor interest in frontier and established basins, particularly in Nigeria, Namibia, Mozambique and other prolific African plays.
She emphasized the import of domestic and regional capital formation as a stabilising force for Africa’s energy future.
“As we work to draw in more external investment, encouraging capital formation within Africa remains essential. Domestic capital brings stronger commitment and stability, creating more opportunities for development,” the CCE said.
She noted that African independent operators are already playing a growing role in Nigeria’s upstream space, driving project execution and capital deployment.
A major milestone in strengthening indigenous financing, she said, is the establishment of the Africa Energy Bank, which is headquartered in Nigeria.
She added;“The creation of the Africa Energy Bank, proudly hosted in Nigeria, is a milestone,” she said, adding, “Unified support from stakeholders will be crucial to its success.”
She also highlighted the growing impact of regional cooperation, particularly in gas development, power infrastructure and regulatory alignment.
“Beyond national efforts, regional cooperation is having a transformative effect,” she said, pointing to expanded gas and power infrastructure that is improving energy access, reliability and affordability across Africa.
According to her, the licensing round is designed to unlock Nigeria’s upstream potential under a more predictable and investor-friendly regulatory framework established by the Petroleum Industry Act (PIA) 2021.
She added that Nigeria is leveraging the momentum of renewed global interest in Africa’s hydrocarbons to attract credible investors into its upstream sector.
“To facilitate resource access, Nigeria has launched the 2025 licensing round, offering 50 oil and gas blocks across various terrains.
“This initiative reflects a targeted approach to responsible resource development. We invite capable investors to participate and help realise Nigeria’s promising upstream potential,” Eyesan stated