Eyesan’s nomination arrives as Nigeria moves to consolidate reforms, attract capital and unlock long-delayed upstream potential through transparent and predictable regulation
Nigerian President Bola Ahmed Tinubu has nominated Oritsemeyiwa Eyesan as the new Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in a move expected to reshape the country’s upstream oil and gas sector and boost investor confidence. As a seasoned professional with extensive experience, Eyesan is poised to implement the Petroleum Industry Act (PIA), drive transparent licensing rounds and lead the NUPRC into a new era of regulatory stability and sector growth. Her nomination reflects Nigeria’s commitment to strengthening institutional leadership, accelerating upstream reforms and positioning the country as a commercially attractive destination for global energy investment.
The African Energy Chamber (AEC), representing the voice of the African energy sector, welcomes and formally endorses Eyesan’s appointment. This leadership transition comes at a critical juncture for Nigeria’s oil and gas industry, as the country seeks to consolidate reforms, attract capital 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. We urge business leaders, investors and the political class to fully support her in making Nigeria the most competitive destination for upstream investment in Africa,” stated NJ Ayuk, Executive Chairman, AEC.
Eyesan’s nomination comes as Nigeria faces production decline and intensifying global competition for energy investment. The country has been aggressively pursuing exploration incentives, project development and investment-friendly reforms across onshore and offshore basins. A cornerstone of this strategy is the PIA (2021) and the launch of the 2025 licensing round earlier this month. The round, offering 50 onshore, shallow-water, deepwater and frontier blocks, is expected to attract $10 billion in new upstream capital and add up to 2 billion barrels of reserves over the coming decade. Led by the NUPRC and conducted in strict compliance with the PIA, the licensing round features a fully digital, transparent bid process with lower entry costs, enhanced geophysical datasets, and a streamlined online portal.
The licensing round coincides with an accelerated push toward gas monetization under Nigeria’s Decade of Gas initiative. In December 2025, the Nigerian Gas Flare Commercialization Program issued permits to 28 companies to capture 250–300 million standard cubic feet per day of previously-flared gas, unlocking nearly 3 GW of power generation potential and mobilizing $2 billion in investment. These reforms are already translating into tangible activity, with more than $8 billion in anticipated final investment decisions and strong participation from indigenous operators such as Seplat and Oando, alongside rising international interest.
The timing of Eyesan’s appointment is therefore highly significant. Global investors are increasingly selective, and competition for capital is intensifying across frontier and established markets. Regulatory credibility, transparency and predictability are now decisive factors. One of the greatest deterrents to investment in Nigeria has been slow or unpredictable regulatory approval processes, including lengthy permitting timelines, unclear requirements and frequent changes that stall projects and undermine returns.
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