By Olakunle Oke
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is projecting a significant increase in the country’s production output.
With 28 Field Development Plans (FDPs) approved so far in 2025, the Commission projects that they will add approximately 600,000 barrels of crude oil per day (BPD) and over 2 billion standard cubic feet of gas daily to the national output.
The Commission Chief Executive (CCE), Engr. Gbenga Komolafe, made this disclosure while addressing participants at the ongoing 2025 World Energies Summit organized by Frontier Energy Network in London.
Komolafe noted that these new projects represent a major leap for Nigeria’s upstream oil and gas sector, backed by substantial total investments valued at $18.2 billion in committed capital expenditure (CAPEX).
“In 2025 alone, 28 new Field Development Plans have already been approved, unlocking an additional 1.4 billion barrels of oil and 5.4 trillion cubic feet of gas,” Komolafe stated. “These projects are expected to add nearly 600,000 barrels of oil per day and more than 2 billion standard cubic feet of gas per day, supported by $18.2 billion in committed CAPEX.”
He asserted that these massive developments underscore renewed investor confidence, demonstrating that Nigeria’s upstream sector remains on a growth path capable of sustaining its role as a major global energy hub.
Komolafe highlighted that the administration of President Bola Tinubu, in collaboration with the NUPRC, is actively implementing bold reforms and strategic policies designed to transform existing challenges into opportunities amidst global pressures for energy transition.
He urged investors to capitalize on the upcoming Block Licensing Round, stressing that the country’s oil and gas industry is fully open for business.
Highlighting the tangible gains of recent reforms, Komolafe detailed the successes of various licensing exercises, including the 2022 Petroleum Prospecting Licences, the Mini-Bid Round for deep offshore blocks, and the 2024 Licensing Round.
He noted these processes were transparent and praised by industry stakeholders, including the Nigeria Extractive Industries Transparency Initiative (NEITI).
“Every key metric on our performance dashboard reflects widening access and exceptional investor participation,” he said. He cited that rig activity has surged from just eight in 2021 to 70 today, with 41 currently drilling on site.
He also noted that production has risen significantly from 1.46 million barrels per day in October 2024 to around 1.8 million barrels per day.
Komolafe also pointed to major Final Investment Decisions (FIDs) such as the $5 billion Bonga North Project and the $500 million Ubeta Gas Project as definitive proof of renewed long-term investor confidence, with several more FIDs anticipated soon.
