The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched the 2026 Licensing Round, offering 40 oil and gas blocks to investors.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, announced the round at the NUPRC’s fifth anniversary ceremony in Abuja on Tuesday. The event was themed “From Uncertainty to Stability: Unlocking the Next Phase of Investment.”
“It is with great joy that I announce that, pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigeria 2026 Licensing Round is hereby formally launched,” she said.
“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.”
Stronger transparency rules
Eyesan said the guidelines for the round, drawn up on the advice of the Nigeria Extractive Industries Transparency Initiative (NEITI), will:
- set out the evaluation methodology in full;
- provide for fuller publication of results; and
- require every bidder to disclose its beneficial owners.
She added that in the coming days, the Commission will publish full details of the blocks, the qualification requirements and the participation procedures on its website and a dedicated licensing round portal.
“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.
Plan to raise oil and gas output
In her anniversary speech, Eyesan said the upstream sector had seen major improvements over the past five years, driven by the transparency and predictability the Petroleum Industry Act (PIA) introduced, along with executive orders issued by President Tinubu.
Outlining immediate plans to raise production, she said: “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.”
Tributes and launches
The Commission honoured past directors of the defunct Department of Petroleum Resources (DPR), its pioneer leadership, and former National Assembly leaders who played key roles in passing the PIA. They included former Senate President Ahmad Lawan and former Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila.
The NUPRC also unveiled a special edition of its in-house magazine, The Upstream Gaze, and a documentary on its journey over the past five years
Sunday Michael Ogwu is a Nigerian journalist and editor of Pinnacle Daily. He is known for his work in business and economic reporting. He has held editorial roles in prominent Nigerian media outlets, where he has focused on economic policy, financial markets, and developmental issues affecting Nigeria and Africa more broadly.