Dear Readers,
The Nigerian Upstream Petroleum Regulatory Commission (“NUPRC” or the “Commission”) has formally launched the 2026 Licensing Round, offering 40 oil and gas blocks across land, shallow water and deep-water terrains to qualified Nigerian and international investors. The announcement was made by the Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, at the Commission’s fifth anniversary ceremony in Abuja on 6 October 2026.
The formal launch follows NUPRC’s earlier announcement in June 2026 that the Licensing Round would commence by the third quarter of the year, following the requisite approval from the Minister of Petroleum Resources. The launch marks another step in Nigeria’s efforts to open up its upstream petroleum sector to investment and sustain the development of its petroleum resources.
Under the 2026 Licensing Round, the blocks are open to investors with the requisite technical competence, financial capacity and commitment to developing Nigeria’s petroleum resources. NUPRC has indicated that full details of the blocks on offer, qualification requirements and procedures for participation will be published on its website and the dedicated licensing round portal in the coming days. These details will be important in enabling prospective bidders to assess the technical and commercial viability of the available acreage and determine the requirements for participation.
Transparency is also a central feature of the new Round. Following the counsel of the Nigeria Extractive Industries Transparency Initiative (“NEITI”), NUPRC has stated that the guidelines for the Licensing Round will set out the evaluation methodology in full, provide for fuller publication of results and require disclosure of the beneficial owners of every bidder.
The 2026 Licensing Round follows the conclusion of the 2025 Licensing Round, which offered 50 oil and gas blocks and attracted significant investor participation. 143 companies submitted 200 bids for 37 of the 50 blocks on offer, with 31 companies ultimately emerging as winners of the 37 blocks. The level of participation recorded in the 2025 Licensing Round demonstrates investor interest in Nigeria’s upstream acreage and provides some indication of the level of interest that may be seen in the 2026 Licensing Round.
The 2025 Licensing Round also attracted bids across established producing areas and frontier basins, including the Niger Delta Onshore, Niger Delta Shallow Water and Niger Delta Deep Offshore, as well as the Benin Basin, Anambra Basin, Chad Basin and Benue Trough. NUPRC described the level of investor interest in the frontier basins as unprecedented. For the latest Round, the specific locations and characteristics of the 40 blocks will become clearer once NUPRC publishes the full details of the acreage on offer.
The Commission has described regular licensing rounds as necessary to sustain exploration, replenish reserves and provide investors with a clear pipeline of opportunities. At the commercial bid conference for the 2025 Licensing Round, NUPRC reiterated that its acreage administration would continue to be transparent, competitive and data-driven, with allocation linked to performance.
The 2026 Licensing Round offers another opportunity to expand access to Nigeria’s upstream petroleum acreage and sustain the flow of investment into the sector. However, the attractiveness of the blocks will depend on the detailed block information, qualification requirements, evaluation methodology and participation procedures to be published by NUPRC.
With Nigeria targeting 3 million barrels of oil per day and 12 billion standard cubic feet of gas per day by 2030, the success of the 2026 Licensing Round will be measured by more than the number of blocks awarded. As the country intensifies efforts to replenish reserves, boost petroleum production and attract upstream investment, the real test will be whether awarded acreage translates into tangible exploration activity, field development and increased production. Ultimately, achieving these ambitions will require not only a successful licensing process but also timely regulatory approvals and a stable, predictable regulatory environment that gives investors the confidence to commit and sustain capital in Nigeria’s upstream sector.
