Africa is projected to attract up to $50 billion in global energy capital in 2025, with Nigeria positioning its upstream reforms to capture a significant share through its latest licensing round.
Nigeria is calling on global investors to take part in its oil and gas sector after placing 50 oil and gas blocks on offer in its 2025 licensing round, as Africa prepares to attract up to $50 billion in global energy investment this year. The renewed interest is being driven by regulatory reforms under the Petroleum Industry Act (PIA) 2021, which the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says has restored investor confidence and improved transparency in the upstream sector.
The call was made by Mrs. Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), at the opening of the 10th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos.
Eyesan said Nigeria’s licensing round is riding on sweeping reforms introduced by the Petroleum Industry Act (PIA) 2021, which she described as a game-changer for investors seeking regulatory clarity, fiscal stability, and predictable project timelines.
“We are offering 50 oil and gas blocks across different terrains,” Eyesan said. “This licensing round reflects a focused and responsible approach to developing Nigeria’s upstream resources under a transparent framework.”
Eyesan revealed that Africa’s position in global energy financing has strengthened significantly in the past three years.
“Out of the $520 billion projected global capital expenditure in 2025, Africa is expected to attract between $48 billion and $50 billion, representing over 8% of total global investment,” she said.
This marks a sharp rise from previous years, when Africa’s share hovered below 4%, driven largely by renewed interest in both frontier and established basins.
Nigeria, alongside Namibia and Mozambique, has emerged as a major beneficiary of this shift, as investors re-evaluate Africa’s role in meeting medium-term global energy demand.
According to Eyesan, Nigeria is deliberately leveraging growing international attention on African hydrocarbons to attract investors with the technical and financial capacity to deliver projects.
“The momentum is real,” she noted. “What we are seeking now are credible investors who can translate opportunities into production, jobs, and long-term value.”
She added that the PIA has reduced uncertainties that previously slowed investment decisions, particularly around licensing, fiscal terms, and host community relations.
Beyond foreign investment, Eyesan stressed that African capital is becoming increasingly important to the continent’s energy future.
“Domestic capital brings stronger commitment and stability,” she said. “It ensures projects are more resilient and better aligned with regional development goals.”
She pointed to the growing presence of African independent operators in Nigeria’s upstream sector, noting their expanding role in asset acquisition, capital deployment, and project execution.
One of the most significant developments supporting indigenous financing, according to Eyesan, is the launch of the Africa Energy Bank, headquartered in Nigeria.
“The Africa Energy Bank is a major milestone for the continent,” she said. “Its success will depend on unified support from governments, regulators, and industry players.”
The bank is expected to help bridge financing gaps for oil, gas, and energy infrastructure projects across Africa.
Eyesan also highlighted the impact of regional collaboration on gas development, power infrastructure, and regulatory alignment.
“Expanded gas and power infrastructure is already improving energy access, reliability, and affordability across Africa,” she said.
She cited platforms such as the African Petroleum Regulators’ Forum (AFRIPERF) as critical in strengthening Africa’s collective voice in global energy discussions.
