The Federal Government has opened the 2026 oil and gas licensing round, offering 40 blocks across land, shallow water and deepwater terrains to local and foreign investors.
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, announced the licensing round in Abuja during the commission’s fifth anniversary, according to the News Agency of Nigeria (NAN).
Eyesan said the round had received the approval of President Bola Tinubu, who is also Minister of Petroleum Resources, as the government seeks to attract capital into Nigeria’s upstream oil and gas sector.
The 2026 licensing round is open to investors with the technical competence, financial strength and commitment required to develop Nigeria’s petroleum resources.
Eyesan said the process would introduce measures designed to strengthen transparency and help Nigeria compete for investment in a tightening global market.
She said investors participating in the bidding process will be required to disclose their beneficial owners. The commission will also publish the full evaluation results of the bidding process, the regulator noted.
Eyesan also credited presidential directives with shortening contracting cycles and providing investors with greater fiscal certainty.
The 40 blocks being offered cover land, shallow water and deepwater terrains, providing opportunities for investors with the required technical and financial capacity.
The latest round, the regulator stated, is therefore designed to attract investors while making ownership and bid evaluation more transparent.
The new licensing round follows the 2025 process, in which 31 companies emerged winners of 37 oil and gas blocks after a competitive bidding exercise.
The 2025 offering also covered frontier areas including the Benue Trough, Chad Basin and Anambra Basin, reflecting the broader geographic spread of Nigeria’s upstream licensing programme.
