Nigeria is preparing to open a new round of oil and gas licensing opportunities in 2026 after receiving presidential approval to move ahead with the process.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that preparations are underway for the 2026 licensing round, which is expected to begin before the end of the third quarter of next year. The approval was granted by President Bola Tinubu in his role as Minister of Petroleum Resources, allowing the regulator to continue efforts aimed at attracting fresh investments into the country’s upstream oil and gas sector.
The announcement was made during a visit by international energy company Meren Energy, formerly known as Africa Oil, to the NUPRC headquarters in Abuja.
Speaking during the meeting, the Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, explained that the commission is currently focused on completing the ongoing 2025 licensing round. According to her, the commercial bidding stage of the current exercise is expected to take place in July, after which attention will shift fully to the 2026 programme.
She noted that interest from investors in the current licensing process has been encouraging and reflects growing confidence in Nigeria’s oil and gas industry. Eyesan said recent increases in crude oil production, combined with stronger investment inflows, show that reforms introduced by the Federal Government are helping to improve the country’s position in the global energy market.
According to her, the success of the ongoing licensing round will play an important role in shaping future oil asset allocations and ensuring sustained investor participation in the sector.
The development comes at a time when Nigeria is seeking to boost crude oil production and attract more capital into exploration and production activities. The government hopes increased investment will help strengthen energy revenues and support economic growth despite growing global pressure for cleaner energy sources.
Meanwhile, Meren Energy reaffirmed its commitment to expanding operations in Nigeria, describing the country as the most important market within its African investment portfolio.
The company’s Group Chief Executive Officer, Dr. Oliver Quinn, highlighted its long history of investment in major Nigerian oil fields, including Agbami, Akpo, and Egina. He revealed that over the past two decades, the company has invested approximately $11 billion in these assets while contributing around $4 billion in taxes and royalties to the Nigerian government.
Quinn said Nigeria remains central to the company’s future plans because of the quality and potential of its oil and gas resources. He added that recent industry reforms have strengthened confidence among investors and created opportunities for further expansion.
The executive also disclosed that Meren Energy was the first company to supply crude oil to the Dangote Petroleum Refinery. He stated that the company remains committed to meeting domestic crude supply obligations whenever commercially viable.
In addition, Meren Energy is encouraging its partners across key oil assets to increase investments and support efforts to raise production levels in line with Nigeria’s national output targets.
Industry observers believe the upcoming 2026 licensing round could attract significant international interest if the current momentum in reforms, production growth, and investor confidence continues.
