Nigeria Positions for Africa’s $50bn Oil Capital Inflow With 50 New Oil Blocks, Others

Nigeria has positioned itself to capture a major share of Africa’s projected $48-50 billion oil and gas capital inflow this year, with the launch of 50 new blocks in its 2025 licensing round.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief executive, Oritsemeyiwa Eyesan, who reiterated this in Lagos, highlighting Africa’s surging appeal in the global energy arena, Eyesan noted the continent’s capital expenditure share has climbed dramatically.
She said that of the $520 billion projected in worldwide capital investment this year, Africa expects to attract between $48-$50 billion, which is over eight per cent of the total—indicating over 100 per cent increase from previous years when it was below four per cent.

Delivering the host country address at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026, Eyesan said, “At the heart of Nigeria’s strategy is the 2025 licensing round, launching 50 oil and gas blocks across diverse terrains.
“This initiative reflects a targeted approach to responsible resource development.
We invite capable investors to participate and help realize Nigeria’s promising upstream potential,” she declared, positioning it as a direct bid for Africa’s capital windfall.
The SAIPEC is co-hosted with the Petroleum Technology Association of Nigeria (PETAN),
“Of the $520 billion projected in worldwide capital investment this year, Africa expects to attract between $48-$50 billion—over eight per cent of the total—a significant increase from previous years when it was below four per cent” she stated.
This momentum, she explained, stems from renewed exploration success in hotspots like Nigeria, Namibia, and Mozambique, urging collective action to sustain it.
To capture and retain this influx, Eyesan outlined key priorities: attracting capital, deploying cutting-edge technology, upskilling workforces, and building “predictable, stable, transparent, and rules-based” governance.
“Such measures foster an environment that encourages engagement and sustained growth,” she emphasized, while stressing the value of domestic African capital for “stronger commitment and stability.”Nigeria is leading by example, Eyesan proudly announced, pointing to the milestone Africa Energy Bank hosted in the country and the rise of African independents driving investments.
“Unified support from stakeholders will be crucial to its success,” she said.
Technological leaps are central to this vision, she added, from enhancing efficiency in mature basins to unlocking untapped prospects.
“We must prioritize technology transfer within Africa, especially in imaging, seismic analysis, drilling methods, and petroleum operations, to ensure sustainable growth,” Eyesan urged, calling for knowledge-sharing platforms like a structured database to spread Nigeria’s onshore and deepwater expertise continent-wide.
“I urge this gathering to support Nigeria and the NUPRC in leading these initiatives. By cultivating homegrown expertise, Africa can compete globally—not only in technology and finance but also in innovation.”
Eyesan warned that global interest alone won’t seal deals without robust institutions.
“A robust, reliable institutional framework is essential,” she said, crediting Nigeria’s Petroleum Industry Act 2021 and recent NUPRC reforms for boosting investor confidence through efficient resource management.
Eyesan noted, from gas and power infrastructure expansions to policy harmony via the African Petroleum Regulators’ Forum (AFRIPERF). “This spirit of partnership and integration is embodied in SAIPEC 2026: bringing markets together, attracting investments, co-developing solutions, and positioning Africa as a reliable, responsible, and forward-focused energy partner,” she affirmed.As SAIPEC 2026 unfolds with discussions, exhibitions, and networking, Eyesan called for action. “I encourage everyone to reflect on these key issues and embrace this platform as a call to partnership and purposeful action—for sustainable investment, shared prosperity, and energy security in Africa and globally,” she concluded, wishing delegates a “successful, insightful, and memorable conference.”The event underscores Nigeria’s pivotal role in Africa’s energy resurgence amid global shifts.