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 accessible to native and worldwide traders.
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 accordance with an announcement signed by Eniola Akinkuotu, Head of Media and Corporate Communications.
Eyesan urged traders to contemplate Nigeria’s upstream sector, describing the nation as a lovely funding vacation spot amid international power market uncertainties.
She cited enhancements within the regulatory atmosphere, fiscal incentives and safety as elements supporting the brand new licensing round.
NUPRC highlights incentives for traders
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 traders 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 govt orders signed by President Bola Tinubu.
According to her, the NUPRC has performed at the least 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 had been much less frequent.
She stated Nigeria was additionally working to handle issues traders sometimes take into account when committing capital, together with challenge execution dangers, prices, delays and regulatory uncertainty.
Nigeria’s gas reserves provide funding alternatives
Eyesan additionally highlighted Nigeria’s gas assets as a significant alternative for traders, noting that the nation has an estimated 215 trillion cubic toes (TCF) of gas reserves, whereas day by day manufacturing stands at about 7 billion cubic toes (bcf).
- She stated not too long ago accomplished infrastructure tasks had been anticipated to enhance gas provide inside Nigeria and the broader area.
- The NUPRC chief govt additionally recognized the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline as tasks that would broaden entry to Nigerian gas throughout regional and worldwide markets, together with Europe.
- She stated the tasks would help home provide whereas positioning Nigeria to fulfill 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 decreasing the dangers related to creating its assets.
Nigeria’s 2026 licensing round affords 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 overseas traders.
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.
