Mrs. Oritsemeyiwa Eyesan, Chief Executive of NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged financial institutions to play a more active role in supporting operators to expand domestic gas production and accelerate investment in Nigeria’s upstream petroleum sector.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, made the call during a visit by senior executives of Rand Merchant Bank (RMB) to the Commission’s headquarters in Abuja.
Eyesan stressed the need for stronger collaboration among regulators, financiers and industry operators to unlock investment opportunities and drive growth in the country’s gas industry.
She identified access to financing as a critical factor in achieving the sector’s objectives, assuring investors that the Commission remains committed to ensuring full compliance with the Petroleum Industry Act (PIA) and other regulatory frameworks.
According to her, investor confidence in Nigeria’s upstream sector remains strong, as reflected in the ongoing 2025 licensing bid round, which has attracted nearly 300 applications from international oil companies and indigenous operators.
Eyesan also highlighted the Commission’s efforts to support energy transition and sustainable development. She noted that Permits to Access Flare Gas (PAFG) have been issued to 28 companies and disclosed plans to reduce fugitive methane emissions by 60 per cent by 2031, among other environmental initiatives.
Speaking during the visit, Head of Oil and Gas Coverage at Rand Merchant Bank, Jonathan Ross, reaffirmed the bank’s commitment to supporting Nigeria’s oil and gas industry, particularly gas development projects.
Ross described gas as a strategic focus area for the bank and pointed to major infrastructure projects, including the OB3 Gas Pipeline, as key enablers for unlocking Nigeria’s vast gas resources.
He also commended recent regulatory reforms and improvements in security across host communities, noting that the developments have strengthened Nigeria’s attractiveness as an investment destination compared to previous years.
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