Nigeria is seeking fresh investment in its oil and gas industry. To achieve this, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has fixed November 20 to open its 2026 licensing portal. The exercise will offer 40 oil and gas blocks to investors.
The Commission’s Chief Executive, Oritsemeyiwa Eyesan, announced the date on November 2. She spoke at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
The licensing round will cover onshore, shallow-water and deepwater terrains. It aims to attract local and international investors. In addition, it could increase exploration and boost oil production.
Eyesan identified the Petroleum Industry Act of 2021 as a major reform. She also highlighted President Bola Tinubu’s executive orders. According to her, these measures have improved Nigeria’s investment climate.
Meanwhile, the licensing round will create opportunities in the gas sector. Eyesan said Nigeria holds an estimated 215 trillion cubic feet of natural gas reserves. However, daily production remains around seven billion cubic feet.
She added that completed gas projects could support the sector. Furthermore, proposed Nigeria-Morocco Atlantic and Trans-Sahara pipelines could expand access to international markets.
The latest exercise follows the 2025 licensing round. That process produced 31 successful bidders for 37 oil and gas blocks.
Similarly, the 2026 round could attract fresh foreign investment. It could also create jobs, increase crude production and improve government revenue.
However, several challenges remain. Nigeria must ensure transparent bidding and stronger security. Investors must also meet their financial and technical obligations.
Ultimately, issuing licences is only the first step. The government must ensure that investments lead to actual production. This will help strengthen energy security and deliver economic benefits to Nigerians.
