The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the 2026 Oil Licensing Round will commence no later than the third quarter of 2026, following approval by the Minister of Petroleum Resources in line with the Petroleum Industry Act (PIA).
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Wednesday, June 3, 2026, during a meeting with a delegation from Meren Energy (formerly Africa Oil) at the NUPRC headquarters in Abuja.
According to her, preparations for the 2025 Licensing Round are already at an advanced stage, with the commercial bid scheduled for July, after which attention will shift to the next round.
“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round,” Eyesan said. “We are in the process of finalising the 2026 launch which will happen latest by the third quarter. This is the make-or-break point, and we want to make sure we deliver.”
She noted that strong participation in the ongoing 2025 Licensing Round reflects growing investor confidence in Nigeria’s upstream petroleum sector, adding that recent reforms under President Bola Tinubu’s administration have made the industry more attractive to global investors.
“This heightened participation shows Nigeria is moving in the right direction,” she added.
In his remarks, Group Chief Executive Officer of Meren Energy, Dr. Oliver Quinn, said ongoing reforms in Nigeria’s oil and gas industry had strengthened investor confidence, prompting the company to deepen its commitments in the country.
Quinn said Nigeria remains central to Meren Energy’s African investment strategy, citing long-standing operations in major oil fields such as Agbami, Akpo, and Egina.
He disclosed that the company has invested about $11 billion in capital expenditure over the past two decades, alongside approximately $4 billion in taxes and royalties.
“Nigeria remains the core of our business today because of the quality of these assets,” Quinn said, adding that the firm continues to push partners to increase investments and boost production.
He also noted that Meren Energy was the first company in Nigeria to supply crude oil to the Dangote Refinery and reaffirmed its commitment to fulfilling its Domestic Crude Supply Obligation where commercially viable.
