Oil, Gas Resources Remain Vital to Africa’s Development – NUPRC CEO

Share on Facebook Share on LinkedIn

While the world moves toward green energy in line with the energy Transition agenda, oil and gas resources remain vital to Africa’s development, says Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan.

Mrs Eyesan highlighted the strategic role of hydrocarbons in Africa’s future, while pursuing just energy agenda.

The NUPRC boss stated this in her keynote address at the Nigerian International Energy Summit (NIES), held at the International Conference Centre (ICC) on Monday, February 2, 2026.

Speaking on the theme “One Africa, One Regulator Voice: Aligned Policies for Continental Prosperity and Investment,” Eyesan, who was represented by NUPRC Director, Mr. Edu Inyang, said oil and gas resources still play a critical role in supporting electricity generation, clean cooking, petrochemicals, fertiliser production and public revenues that fund infrastructure and social services.

According to a statement by the NUPRC spokesman, Eniola Akinkuotu, Mrs Eyesan observed that Africa’s prospects for shared prosperity are underpinned by the scale of its natural and human capital, noting that the continent holds approximately 8% of global oil and gas reserves, nearly 30% of known critical mineral resources, and a population exceeding 1.5 billion people, which is largely youthful and economically active.
“When these advantages are developed through coordinated policies, integrated infrastructure and aligned regulatory frameworks, they can drive industrialisation, strengthen regional value chains, enhance energy security and deliver inclusive growth,” Eyesan said.

She highlighted Africa’s success in speaking with one voice at global platforms, including successive COP meetings, where coordinated advocacy secured recognition of Africa’s unique development needs and the role of gas as a transition fuel. She noted that similar unity helped secure the historic Loss and Damage Fund at COP27 in Sharm el-Sheikh.

The NUPRC boss called for the strengthening of the African Petroleum Regulators’ Forum (AFRIPERF) as a critical platform for harmonising energy regulation across the continent and unlocking large-scale investment in Africa’s oil and gas sector.

She said inconsistent regulatory frameworks across African countries remain a major deterrent to cross-border energy projects, stressing that a unified regulatory voice would significantly lower investment risks and accelerate development.
“Investors are not deterred by Africa’s geology; they are deterred by inconsistent rules,” the NUPRC boss stated.

AFRIPERF was established to institutionalise regulatory convergence, provide predictability, and enable faster execution of cross-border projects that deliver shared prosperity.According to Eyesan, AFRIPERF, which was launched in collaboration with petroleum regulators across the continent, is already advancing aligned standards, shared data platforms, capacity building and a unified African voice on global energy and climate platforms.

Drawing attention to practical examples of cooperation, she cited the African Continental Free Trade Area (AfCFTA), regional power pools, and cross-border gas infrastructure such as the West African Gas Pipeline as evidence that policy alignment accelerates development and expands access to affordable energy.

She also pointed to missed opportunities, noting that over 180 trillion cubic feet of discovered natural gas across Africa remains unsanctioned for development, largely due to fragmented markets and unaligned fiscal and regulatory regimes.
“Nigeria has taken deliberate steps to lead by example,” Eyesan said, referencing the Petroleum Industry Act (PIA) 2021, ongoing transparent licensing rounds, and major gas infrastructure projects including the AKK pipeline, the Nigeria–Morocco Gas Pipeline and the revived Trans-Saharan Gas Pipeline.

She added that the Africa Energy Bank, headquartered in Nigeria, is mobilising African capital for African energy projects, helping to bridge financing gaps left by global capital withdrawal.

In her closing remarks, Eyesan urged African regulators and policymakers to deepen cooperation by strengthening AFRIPERF, expanding regional gas and electricity networks, adopting shared sustainability standards and maintaining a unified African stance in global energy and climate discussions.

“Our voice must be one, our frameworks aligned, and our actions coordinated,” she said. “Only then can we unlock the full transformative power of Africa’s resources for our people.

Post Views: 13

Victor EZEJA

+ posts

Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.