The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) don call on banks and other financial institutions to provide funding support for oil and gas operators as Nigeria intensify efforts to increase domestic gas production and attract more investments into the sector.
The call come from NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, during a visit by top management officials of Rand Merchant Bank (RMB) to the Commission headquarters for Abuja.
According to Eyesan, strong partnership between regulators, financiers and industry operators go play key role in unlocking fresh investments and speeding up growth for Nigeria gas sector.
She stress say access to finance remain one of the most important factors needed to drive expansion across the industry.
“One critical element na financing, and we hope say banks and other financial institutions go support us. We go continue to ensure say the industry operates according to the Petroleum Industry Act and other regulatory guidelines,” she talk.
Eyesan also reveal say investors’ interest in Nigeria oil and gas sector remain strong. She point to the ongoing 2025 licensing bid round, wey attract almost 300 applications from both International Oil Companies (IOCs) and indigenous operators.
Furthermore, she highlight several energy transition initiatives being driven by the Commission. These include the issuance of Permits to Access Flare Gas (PAFG) to 28 companies and efforts to reduce methane emissions by 60 per cent before 2031.
Responding, Head of Oil and Gas Coverage at Rand Merchant Bank, Jonathan Ross, assure the Commission of the bank’s commitment to support Nigeria’s oil and gas industry, especially gas development projects.
Ross describe natural gas as a major strategic focus for the bank and point to key infrastructure projects such as the OB3 Gas Pipeline as critical investments capable of unlocking Nigeria’s huge gas reserves.
In addition, the bank commend recent regulatory reforms and improved security across host communities, noting say Nigeria now dey in a better position to attract local and foreign investments compared to previous years.
The development further underscores growing confidence in Nigeria’s oil and gas sector as stakeholders work together to drive energy security, economic growth and sustainable development.
