Nigeria has opened its 2026 oil and gas licensing round, offering 40 blocks across land, shallow water and deepwater areas.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the new licensing round as the Federal Government seeks fresh investment in the oil and gas sector.
NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, announced the round in Abuja. President Bola Tinubu and the Minister of Petroleum Resources approved the exercise.
Eyesan said Nigerian and international investors can bid for the available blocks. However, bidders must show technical expertise and financial capacity.
They must also demonstrate a clear commitment to developing Nigeria’s petroleum resources.
The new licensing round follows Nigeria’s 2025 exercise. That round attracted 200 bids from 143 companies.
NUPRC selected 31 companies as winners for 37 blocks. Investors also showed interest in several frontier basins.
These included the Anambra Basin, Benue Trough, Chad Basin and Benin Basin.
The 2026 round gives more investors an opportunity to enter Nigeria’s upstream sector. It also offers existing operators a chance to expand their petroleum operations.
NUPRC says transparency will remain a major priority during the 2026 process.
The commission plans to provide clearer evaluation procedures. It will also publish more information about the outcome of the bidding process.
Bidding companies must disclose their beneficial owners. This requirement will help regulators identify the individuals behind participating companies.
NUPRC will publish details of the available blocks through its official channels. The commission will also provide qualification requirements and application procedures on its licensing portal.
The new licensing round comes as Nigeria works to increase crude oil and gas production.
NUPRC has identified more than 788,000 barrels per day of shut-in production across 63 operators.
The commission wants operators to bring some of this production back online. Higher output could increase government revenue and support Nigeria’s foreign exchange earnings.
NUPRC also wants to attract investment into offshore petroleum projects. The commission is equally working to increase domestic gas supply.
Nigeria now faces strong competition for global energy investment.
The country must therefore convince investors that its oil and gas assets offer attractive opportunities. It must also provide a stable and transparent regulatory environment.
However, awarding the blocks will not end the process.
Successful investors must develop the assets and increase production. They must also create jobs and support economic activity across the petroleum value chain.
For the Federal Government, the 2026 licensing round offers an opportunity to attract new capital.
It also provides a test of Nigeria’s ability to turn its petroleum resources into wider economic benefits.
The key question is whether the new investments will move beyond licensing awards and deliver higher production, stronger revenue and greater economic opportunities for Nigerians.
