Nigeria Targets $50 Billion Offshore Investment to Revitalize Oil Sector
Nigeria is aiming to attract between $30 billion and $50 billion in offshore oil and gas investments by 2030 through 22 major deepwater projects. This initiative is part of Nigeria's efforts to revive its energy sector, which has faced challenges such as declining output, oil theft, and policy uncertainty. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has already approved over $57 billion in development plans since 2024. The projects are expected to boost crude production, create jobs, and enhance Nigeria's position in the global energy market. The government is also planning another licensing round to attract further investment. 
