The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Dr. Oritsemeyiwa Eyesan, says that the country is in the middle of a “quiet but far-reaching transformation,” driven by local firms, zero-flare targets, and ambitions to lead Africa’s energy future.
Dr. Eyesan told Investors in the oil and gas sector at the Nigerian Pavilion at the Offshore Technology Conference 2026 in Houston, Texas, that indigenous companies, climate goals and policy reform were reshaping the industry from the ground up.
“Today, nearly 100 Nigerian companies are operating in the sector. That is phenomenal,” Eyesan said.
According to her, the shift marks a move away from decades of dominance by a handful of international oil companies toward local firms driving exploration, production, and tech adoption,
She explained that the core of her agenda is a dual target of eliminating gas flaring by 2030 and achieving net-zero emissions by 2060.
Eyesan disclosed that gas flaring has already dropped below 10 per cent, with firm plans to eradicate it completely.
“We are not just penalising flaring. We are commercialising it,” Eyesan said, explaining that flare sites are being concessioned to firms capable of converting wasted gas into usable energy.
According to her, the initiative is expected to generate up to three gigawatts of electricity and that Nigeria’s decarbonisation goals are achievable, emphasising a pragmatic transition that integrates cleaner technologies rather than abandoning hydrocarbons altogether.
She disclosed that some offshore facilities already deploy solar energy, while carbon capture, utilisation and storage projects are under consideration.
Eyesan described the Petroleum Industry Act (PIA) as a “game changer” that has improved regulatory clarity and competitiveness while noting that continuous policy adjustments are necessary to remain globally attractive.
“The government has been responsive. We constantly evaluate our position and adjust to attract and retain investment,” she said.
She stressed that the Commission remains committed to enabling business, while enforcing compliance, adding that collaboration is not confrontation and will define engagement with industry players.
Looking beyond Nigeria, Eyesan said that the country is well-positioned to drive Africa’s broader energy development.
“Nigeria is a major player, but I see us as a beacon for Africa. We have the resources to expand energy access, reduce energy poverty and support industrialisation across the continent,” she said.
On investment opportunities, she revealed strong interest in Nigeria’s 2025 bid round.
“We have about 50 assets on offer and nearly 300 applicants. That tells you the opportunities are significant and the story will change rapidly,” she added.
She also pointed to reforms in the downstream sector, noting that the removal of fuel subsidies has accelerated the adoption of alternative fuels such as compressed natural gas (CNG), with further growth expected as domestic gas infrastructure expands.
Local media reports said that the event, organised by the Petroleum Technology Association of Nigeria (PETAN), has the theme: “Africa’s Energy Transformation: Scaling Investment, Technology, and Local Capacity for Sustainable Growth.”
GIK/APA