The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open the bid portal for Nigeria’s 2026 oil and gas licensing round on November 20, with 40 blocks obtainable to native and worldwide buyers.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, introduced the date on the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, in line with a press release signed by Eniola Akinkuotu, Head of Media and Corporate Communications.
Eyesan urged buyers to contemplate Nigeria’s upstream sector, describing the nation as a sexy funding vacation spot amid world vitality market uncertainties.
She cited enhancements within the regulatory setting, fiscal incentives and safety as components supporting the brand new licensing round.
NUPRC highlights incentives for buyers
Speaking throughout a roundtable dialogue titled ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’, Eyesan stated Nigeria had launched measures to make its oil and gas sector extra aggressive.
- “We are expecting investors to turn to Nigeria. We are going in for another licensing round and we will be launching our bid portal on November 20,” she stated.
She added that the federal government had established a fiscal framework and launched incentives to assist buyers handle prices and cut back operational dangers.
Eyesan attributed enhancements within the funding local weather partly to the Petroleum Industry Act (PIA), enacted in 2021, and government orders signed by President Bola Tinubu.
According to her, the NUPRC has carried out not less than 4 licensing rounds between 2021 and 2026, bringing further funding into the nation. This marks a shift from the interval earlier than the PIA, when licensing rounds have been much less frequent.
She stated Nigeria was additionally working to deal with considerations buyers usually contemplate when committing capital, together with undertaking execution dangers, prices, delays and regulatory uncertainty.
Nigeria’s gas reserves provide funding alternatives
Eyesan additionally highlighted Nigeria’s gas assets as a serious alternative for buyers, noting that the nation has an estimated 215 trillion cubic toes (TCF) of gas reserves, whereas every day manufacturing stands at about 7 billion cubic toes (bcf).
- She stated just lately accomplished infrastructure initiatives have been anticipated to enhance gas provide inside Nigeria and the broader area.
- The NUPRC chief government additionally recognized the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline as initiatives that would develop entry to Nigerian gas throughout regional and worldwide markets, together with Europe.
- She stated the initiatives would assist home provide whereas positioning Nigeria to satisfy demand in neighbouring international locations and different markets.
Eyesan maintained that competitors for oil and gas funding had intensified as extra international locations develop their petroleum assets. She stated Nigeria had adjusted its insurance policies and funding framework to draw capital by lowering the dangers related to growing its assets.
Nigeria’s 2026 licensing round provides 40 blocks
The Federal Government opened the 2026 oil and gas licensing round, providing 40 blocks throughout onshore, shallow-water and deepwater terrains to native and international buyers.
The train follows the 2025 licensing round, in which 31 companies emerged as winners of 37 oil and gas blocks after a aggressive bidding course of.
The 2025 train additionally attracted curiosity in established petroleum-producing areas and frontier basins, with the NUPRC shortlisting bidders ahead of the final awards.
