The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved 79 Field Development Plans (FDPs) worth $39.98 billion in investments between 2024 and 2025.
This approval is part of the commission’s efforts to strengthen Nigeria’s upstream oil and gas sector.
The NUPRC approved 41 FDPs in 2024, representing estimated investments of $20.55 billion, while 38 FDPs were approved in 2025, representing estimated investments of $19.43 billion. These investments are expected to boost Nigeria’s crude oil production and contribute significantly to national economic growth.
According to the NUPRC, the approved FDPs are valued at $39.98 billion. The commission has also reported that Host Community Development Trusts have remitted N122.34 billion in naira and $168.91 million in dollar contributions as of October 2025, creating a conducive environment for oil and gas operations.
The NUPRC’s efforts have led to increased investor confidence in Nigeria’s oil and gas sector, with the commission exceeding its revenue targets in 2022, 2023, and 2024. Nigeria’s crude oil output is projected to rise to 2.5 million barrels per day by 2027, driven by the approved FDPs and other investments in the sector.
In the words of the NUPRC’s Head of Media and Strategic Communications, Eniola Akinkuotu, “This translates to a combined remittance of over N358.67 billion, creating a conducive host community environment.” The commission’s initiatives have delivered results, including raising rig counts from 8 in 2021 to 43 as of September 2025.
The approval of these FDPs is expected to further drive economic growth and development in Nigeria. With the commission’s efforts, Nigeria’s oil and gas sector is poised for significant growth, contributing to the country’s economic development.
