The Nigerian Upstream Petroleum Regulatory Commission has revealed that more than 180 trillion cubic feet of discovered natural gas across Africa remains untapped, primarily due to fragmented markets and inconsistent fiscal and regulatory frameworks.
This was disclosed in a statement by the CEO of the NUPRC,
Oritsemeyiwa Eyesan, during her keynote address at the Nigerian International Energy Summit on Monday in Abuja.
Eyesan called on African countries to harmonise their regulations and markets, according to the News Agency of Nigeria.
Represented by the NUPRC’s Executive Commissioner for Exploration and Acreage, Edu Inyang, the CEO emphasized the importance of strengthening the African Petroleum Regulators’ Forum as a vital platform for aligning energy regulations across the continent and attracting large-scale investment.
The NUPRC executive noted that inconsistent regulatory frameworks across African countries continue to hinder cross-border energy investments and delay the execution of major projects.
“Our voice must be one, our frameworks aligned, and our actions coordinated. Only then can we unlock the full transformative power of Africa’s resources for our people.
“Investors are not deterred by Africa’s geology; they are deterred by inconsistent rules.
“A unified regulatory voice would significantly reduce investment risks and accelerate development,” Eyesan was quoted as saying.
Eyesan stated that Africa’s development potential is anchored in its abundant natural and human resources.
She noted that the continent possesses around 8 percent of global oil and gas reserves, nearly 30 percent of known critical mineral resources, and a population exceeding 1.5 billion, predominantly young and economically active.
The energy expert explained that leveraging these advantages through coordinated policies, integrated infrastructure, and harmonised regulatory frameworks could spur industrialisation, enhance regional value chains, boost energy security, and foster inclusive growth.
Eyesan also highlighted Africa’s increasing ability to present a united front on global platforms, including at successive Conference of the Parties meetings.
She pointed to initiatives such as the African Continental Free Trade Area agreement, regional power pools, and cross-border gas projects like the West African Gas Pipeline as examples of this progress.
