The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open its bidding portal for the 2026 oil and gas licensing round on November 20, offering 40 petroleum blocks to local and international investors.
The Commission Chief Executive, Oritsemeyiwa Eyesan, announced the date on Monday, November 2, during the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi. The licensing exercise is aimed at attracting fresh investments into Nigeria’s upstream petroleum sector amid growing competition for global energy capital.
Eyesan said improvements in the country’s security situation, fiscal framework and regulatory environment had strengthened its appeal to investors. She added that the government had introduced incentives to reduce operating costs and make petroleum projects more attractive.
“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 said.
The NUPRC chief executive attributed the improved investment climate partly to the Petroleum Industry Act (PIA), enacted in 2021, and executive orders introduced by President Bola Tinubu. According to her, the commission has conducted at least four licensing rounds between 2021 and 2026, attracting additional investments into the sector. She described this as a departure from the period before the PIA, when licensing exercises were less frequent.
Eyesan also highlighted Nigeria’s natural gas resources as an important investment opportunity. The country holds an estimated 215 trillion cubic feet (TCF) of gas reserves, but its daily production remains at approximately seven billion cubic feet (bcf). She said the gap between available reserves and current production presents opportunities for investors, particularly in gas exploration, production and infrastructure development.
The commission chief also identified the Nigeria Morocco Atlantic Gas Pipeline and the Trans Sahara Gas Pipeline as major proposed projects that could expand access to Nigerian gas across Africa and international markets. She said recently completed infrastructure projects were expected to improve gas supply within Nigeria and the wider region, while the proposed pipelines could position the country to serve markets beyond its borders.
Eyesan noted that competition for investment had intensified as more countries sought to develop their petroleum resources. She said Nigeria had introduced measures to address the concerns investors consider before committing capital, including project execution risks, operating costs, delays and regulatory uncertainty.
The 2026 licensing round offers 40 blocks across onshore, shallow water and deepwater locations. The exercise was formally launched in October following presidential approval. The previous licensing exercise attracted significant interest, with 31 companies emerging as winners of 37 out of the 50 blocks offered in the 2025 round.
The latest exercise is expected to test whether the country’s regulatory reforms, investment incentives and infrastructure plans can translate into stronger investor participation and increased petroleum production.
