Nigeria Prepares for Paris Energy Forum with $18bn in New Project Approvals and Surging Crude Output

Nigeria heads to the Paris Energy Forum with 28 new field approvals worth $18.2 billion and a crude production rebound to 1.7 MMbpd.

By: AXL Media

Published: Apr 8, 2026, 8:24 AM EDT

Source: Information for this report was sourced from LEADERSHIP News

Strategic Re-engagement with Global Energy Investors

Nigeria is intensifying its efforts to attract global capital as government officials prepare for the Invest in African Energy Forum (IAEF) in Paris next month. The delegation plans to showcase a revitalized oil and gas sector, arguing that recent regulatory reforms and a more transparent fiscal framework have created a prime environment for new partnerships. This diplomatic and economic push comes at a critical time as the nation seeks to re-establish itself as the premier destination for energy investment in Africa, leveraging a more stable and predictable business climate.

Massive Capital Injection via Field Development Plans

A cornerstone of Nigeria’s presentation in Paris will be the significant volume of newly approved projects. Throughout 2025, the government greenlit 28 separate field development plans with a total estimated value of $18.2 billion. These projects target approximately 1.4 billion barrels of reserves, signaling a massive upstream expansion. These approvals are seen as a direct result of the Petroleum Industry Act (PIA), which has overhauled the industry's regulatory landscape to make large scale, long term investments more attractive to both international and domestic firms.

Crude Production Rebound and Indigenous Participation

National crude production has shown a strong recovery, currently fluctuating between 1.6 and 1.7 million barrels per day (MMbpd). This rebound is attributed to a surge in drilling activity and aggressive government initiatives to restore output in previously underperforming regions. Notably, indigenous operators have stepped up to fill the void left by international oil companies during recent divestments. Local firms are now contributing an estimated 200,000 barrels per day to the national total, proving their capacity to manage and expand complex energy assets.