Nigeria has launched its 2026 oil and gas licensing round, offering 40 blocks to investors, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said on Tuesday.
The commission’s chief executive, Oritsemeyiwa Eyesan, announced the round at its fifth anniversary ceremony in Abuja on October 6, following approval by President Bola Tinubu.
“The round offers 40 blocks across land, shallow water and deep water terrains. They are open to investors with the technical competence, the financial capacity and, above all, the commitment to develop Nigeria’s petroleum resources,” Eyesan said.
She said the commission would publish details of the blocks, qualification requirements and participation procedures on its website and a dedicated licensing portal in the coming days.
Following recommendations from the Nigeria Extractive Industries Transparency Initiative (NEITI), the guidelines would set out the evaluation methodology in full, provide for more comprehensive publication of results and require all bidders to disclose their beneficial owners, she added.
“So, I invite qualified Nigerian and international investors to come and compete. Bring your best ideas, your best partners and your best bids. May the best bids win,” she said.
Speaking at the ceremony, themed “From Uncertainty to Stability: Unlocking the Next Phase of Investment”, Eyesan said the Petroleum Industry Act (PIA) and executive orders issued by Tinubu had improved transparency and predictability in the upstream sector over the past five years.
She said the commission would prioritise regular licensing rounds, the restoration of shut-in production, progress on offshore investments and increased domestic gas supply.
“Our licensing will be regular and predictable. Our focus will be on what moves the numbers: restoring the more than 788,000 barrels per day of shut-in production identified across 63 operators; taking offshore projects valued at an estimated $30 billion to $50 billion to final investment decision; and raising domestic gas delivery from about two-thirds of the domestic obligation to full delivery,” she said.
The commission honoured former directors of the defunct Department of Petroleum Resources, its founding leadership and former National Assembly leaders who played key roles in the passage of the PIA, including former Senate President Ahmad Lawan and former House of Representatives Speaker Femi Gbajabiamila.
It also unveiled a special edition of its in-house magazine, “The Upstream Gaze”, and a documentary covering its first five years.
Vice President Kashim Shettima represented Tinubu at the event, while Nigeria’s OPEC governor, Ademola Adeyemi-Bero, delivered a lecture.
Other attendees included Senate Committee on Gas Chairman Agom Jarigbe, Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri, Nigerian National Petroleum Company Group Chief Executive Bayo Bashir Ojulari, government agency heads and industry executives.
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