… presence of key stakeholders at OTC 2026 reflects commitment to boosting Nigeria’s production despite global uncertainty – PETAN Chairman
Oreoluwa Adeshewa
Oritsemeyiwa Eyesan, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that Nigeria’s gas flaring has fallen below 10 per cent, with firm plans to eliminate it entirely by 2030 and achieve net-zero emissions by 2060.
Eyesan, who doubles as Chairperson of the African Petroleum Regulators Forum, made this known on Monday at the Nigerian Pavilion of the Offshore Technology Conference (OTC) 2026 in Houston, Texas.
The pavilion was organised by the Petroleum Technology Association of Nigeria (PETAN) under the theme “Africa’s Energy Transformation: Scaling Investment, Technology, and Local Capacity for Sustainable Growth.”
Eyesan explained that Nigeria is shifting from merely penalising gas flaring to actively commercialising it, noting that flare sites are being concessioned to firms capable of converting wasted gas into usable energy.
According to her, the initiative is expected to generate up to three(3) gigawatts of electricity.
She also highlighted a major structural change in the sector, stating that indigenous companies are increasingly taking the lead in exploration, production, and technology adoption.
“Today, nearly 100 Nigerian companies are operating in the sector. That is phenomenal,” she said, noting that this marks a shift away from decades of dominance by a few international oil companies.
Describing the ongoing developments as a “quiet but far-reaching transformation,” she said Nigeria’s energy transition is being driven by local firms, zero-flare targets, and broader ambitions to position the country as a leader in Africa’s energy future.
She stressed that the approach is pragmatic, combining decarbonisation goals with continued investment in hydrocarbons rather than abandoning them entirely.
Eyesan further noted that some offshore facilities are already integrating solar power, while carbon capture, utilisation, and storage projects are under consideration as part of efforts to reduce emissions.
She described the Petroleum Industry Act (PIA) as a “game changer,” saying it has improved regulatory clarity and competitiveness in the sector, while emphasising the need for continuous policy adjustments to attract and retain investment.
“The government has been responsive. We constantly evaluate our position and adjust to attract and retain investment,” she said.
According to her, the Commission remains committed to balancing business facilitation with strict compliance, adding that collaboration, rather than confrontation, will define its engagement with industry stakeholders.
Eyesan also pointed to growing investor confidence in Nigeria’s 2025 bid round, revealing that about 50 assets are on offer with nearly 300 applicants, a development she said reflects strong market interest and significant opportunities in the sector.
On downstream reforms, she noted that the removal of fuel subsidies has accelerated the adoption of alternative fuels such as compressed natural gas (CNG), with further growth expected as domestic gas infrastructure expands.
Looking beyond Nigeria, she said the country is well positioned to serve as a model for Africa’s broader energy development, stressing that it has the capacity to expand energy access, reduce energy poverty, and support industrialisation across the continent.
Mr. Wole Ogunsanya, Chairman of PETAN, in his remarks, said Nigeria’s participation at the conference demonstrates resilience despite global uncertainty and challenges.
“Even in these trying moments, not just in the United States but globally, we ensured Nigeria was represented,” Ogunsanya said.
“We engaged extensively to support delegates’ participation, and the outcome is encouraging.”
He noted that the strong presence of key stakeholders reflects a shared commitment to boosting production and strengthening the country’s energy security.
Ogunsanya added that Nigeria is approaching a major refining milestone, with projections of up to one million barrels per day in operational refining capacity, positioning the country to reduce import dependence and meet domestic demand more effectively.
