The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open the bid portal for Nigeria’s 2026 oil and gas licensing round on November 20, with 40 blocks available to local and international investors.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, announced the date at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, according to a statement signed by Eniola Akinkuotu, Head of Media and Corporate Communications.
Eyesan urged investors to consider Nigeria’s upstream sector, describing the country as an attractive investment destination amid global energy market uncertainties.
She cited improvements in the regulatory environment, fiscal incentives and security as factors supporting the new licensing round.
NUPRC highlights incentives for investors
Speaking during a roundtable discussion titled ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’, Eyesan said Nigeria had introduced measures to make its oil and gas sector more competitive.
- “We are expecting investors to turn to Nigeria. We are going in for another licensing round and we will be launching our bid portal on November 20,” she said.
She added that the government had established a fiscal framework and introduced incentives to help investors manage costs and reduce operational risks.
Eyesan attributed improvements in the investment climate partly to the Petroleum Industry Act (PIA), enacted in 2021, and executive orders signed by President Bola Tinubu.
According to her, the NUPRC has conducted at least four licensing rounds between 2021 and 2026, bringing additional investment into the country. This marks a shift from the period before the PIA, when licensing rounds were less frequent.
She said Nigeria was also working to address concerns investors typically consider when committing capital, including project execution risks, costs, delays and regulatory uncertainty.
Nigeria’s gas reserves offer investment opportunities
Eyesan also highlighted Nigeria’s gas resources as a major opportunity for investors, noting that the country has an estimated 215 trillion cubic feet (TCF) of gas reserves, while daily production stands at about 7 billion cubic feet (bcf).
- She said recently completed infrastructure projects were expected to improve gas supply within Nigeria and the wider region.
- The NUPRC chief executive also identified the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline as projects that could expand access to Nigerian gas across regional and international markets, including Europe.
- She said the projects would support domestic supply while positioning Nigeria to meet demand in neighbouring countries and other markets.
Eyesan maintained that competition for oil and gas investment had intensified as more countries develop their petroleum resources. She said Nigeria had adjusted its policies and investment framework to attract capital by reducing the risks associated with developing its resources.
Nigeria’s 2026 licensing round offers 40 blocks
The Federal Government opened the 2026 oil and gas licensing round, offering 40 blocks across onshore, shallow-water and deepwater terrains to local and foreign investors.
The exercise follows the 2025 licensing round, in which 31 companies emerged as winners of 37 oil and gas blocks after a competitive bidding process.
The 2025 exercise also attracted interest in established petroleum-producing areas and frontier basins, with the NUPRC shortlisting bidders ahead of the final awards.
