Nigeria has formally launched its 2026 oil and gas licensing round, offering 40 blocks across land, shallow water and deepwater terrains as the government seeks to attract new investment and raise petroleum production.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Mrs Oritsemeyiwa Eyesan, announced the licensing round at the Commission’s fifth anniversary ceremony in Abuja on October 2, 2026, 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,” Eyesan said.
She said the 40 blocks were open to investors with the technical competence, financial capacity and commitment required to develop Nigeria’s petroleum resources.
The NUPRC boss said the licensing process would place greater emphasis on transparency, including measures recommended by the Nigeria Extractive Industries Transparency Initiative (NEITI).
According to her, the guidelines will provide details of the evaluation methodology, ensure fuller publication of results and require the disclosure of the beneficial owners of every bidder.
Eyesan said the Commission would publish details of the blocks, qualification requirements and participation procedures on its website and 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.
NUPRC targets 788,000 bpd recovery
Eyesan said the Commission’s immediate priority was to increase oil production by bringing back more than 788,000 barrels per day of shut-in production identified across 63 operators.
She also disclosed plans to move offshore projects estimated at $30 billion to $50 billion to final investment decision and increase domestic gas delivery from about two-thirds of the domestic obligation to full delivery.
“Our licensing will be regular and predictable. Our focus will be on what moves the numbers,” Eyesan said.
She attributed positive changes in the upstream petroleum sector over the past five years to greater transparency and predictability introduced through the Petroleum Industry Act and executive orders issued by President Tinubu.
The NUPRC chief executive said predictable licensing would form part of the Commission’s strategy for sustaining investment and unlocking Nigeria’s petroleum resources.
Tinubu, Shettima, industry leaders attend
President Bola Ahmed Tinubu attended the anniversary event and was represented by Vice President Kashim Shettima. The OPEC Governor for Nigeria, Ademola Adeyemi Bero, delivered the anniversary lecture.
Also present were Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Chairman of the NUPRC Board, Senator Magnus Abe; Chairman of the Senate Committee on Gas, Senator Agom Jarigbe; and the Group Chief Executive Officer of the Nigerian National Petroleum Company, Bayo Bashir Ojulari.
The Commission also honoured former directors of the defunct Department of Petroleum Resources (DPR), members of the pioneer NUPRC leadership and former National Assembly leaders who played key roles in the passage of the Petroleum Industry Act.
Among those honoured were former Senate President Ahmad Lawan and former Speaker of the House of Representatives, Femi Gbajabiamila.
The NUPRC also unveiled a special edition of its in-house magazine, The Upstream Gaze, alongside a documentary chronicling the Commission’s five-year journey.
