Nigerian President Bola Ahmed Tinubu has nominated Oritsemeyiwa Eyesan as the new Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), a decision widely seen as a strategic step toward deepening reforms in the country’s oil and gas industry.
The appointment, subject to confirmation, comes at a time when Nigeria is intensifying efforts to restore production growth, attract fresh capital and reposition itself as a competitive destination for global energy investment.
The African Energy Chamber (AEC), which represents stakeholders across the continent’s energy value chain, has formally welcomed and endorsed Eyesan’s nomination.
According to the Chamber, the leadership transition at the NUPRC comes at a critical moment as Nigeria seeks to consolidate reforms and unlock long-delayed upstream potential.
“The selection of Oritsemeyiwa Eyesan is an epic choice for Nigeria’s oil and gas sector.
“She is a world-class professional, and we are confident at the AEC that she will deliver world-class results.”
NJ Ayuk, Executive Chairman of the AEC
Ayuk urged political leaders, investors and industry players to rally behind the incoming chief executive to ensure reforms translate into tangible outcomes.
He stressed that strong institutional leadership will be essential to making Nigeria Africa’s most competitive upstream market.
With extensive industry experience, Eyesan is expected to play a central role in implementing the Petroleum Industry Act (PIA) and strengthening regulatory certainty across Nigeria’s upstream sector.
Observers say her leadership could mark a turning point in rebuilding investor confidence after years of regulatory delays and policy uncertainty.
Implementing the Petroleum Industry Act
A key expectation under Eyesan’s leadership is the full and consistent implementation of the Petroleum Industry Act, enacted in 2021 to overhaul governance of Nigeria’s oil and gas sector.
The PIA introduced new fiscal, regulatory and host community frameworks aimed at improving transparency and attracting investment.
Eyesan is expected to advance these reforms by ensuring predictable licensing processes, clear regulatory timelines and improved engagement with investors.
Analysts say effective implementation of the PIA remains one of the most important signals Nigeria can send to global energy companies assessing long-term investment risks.
Eyesan’s nomination coincides with Nigeria’s ambitious 2025 licensing round, launched earlier this month and led by the NUPRC.
The round is offering 50 onshore, shallow-water, deepwater and frontier blocks, and is expected to attract up to $10 billion in new upstream investment while adding as much as 2 billion barrels of reserves over the next decade.
Conducted in strict compliance with the PIA, the licensing round features a fully digital and transparent bid process. Lower entry costs, enhanced geophysical data and a streamlined online portal are designed to reduce barriers to entry and boost participation from both local and international players.
Industry observers believe Eyesan’s leadership will be critical in ensuring the process runs smoothly and credibly, reinforcing Nigeria’s reform narrative.
Gas Monetization Gains Momentum
Beyond oil, Nigeria is accelerating efforts to unlock its vast natural gas resources under the Decade of Gas initiative. In December 2025, the Nigerian Gas Flare Commercialization Program issued permits to 28 companies to capture between 250 and 300 million standard cubic feet per day of previously flared gas.
This initiative is expected to unlock nearly 3 gigawatts of power generation capacity and mobilize about $2 billion in investment, while reducing emissions and improving energy access. These developments align with broader efforts to diversify Nigeria’s energy mix and strengthen domestic gas utilization.
Despite these reforms, Nigeria continues to face stiff competition for global energy capital. Production decline, project delays and regulatory bottlenecks have historically undermined investor confidence. One of the most persistent concerns has been slow and unpredictable regulatory approval processes.
“If Nigeria wants to compete for scarce foreign investment, the NUPRC must demonstrate that the country’s oil and gas sector is stable, predictable and commercially attractive.”
NJ Ayuk, Executive Chairman of the AEC
Ayuk pointed to regional examples such as Angola, where streamlined approvals and clear timelines have helped attract investment.
He expressed confidence that Eyesan can address these challenges by establishing transparent frameworks and faster communication channels with investors.
With more than $8 billion in anticipated final investment decisions and growing interest from indigenous operators such as Seplat and Oando, alongside renewed international attention, the timing of Eyesan’s nomination is widely seen as significant.
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