Nigeria Launches 2026 Oil Licensing Round with 40 Blocks
The federal government of Nigeria has launched the 2026 oil and gas licensing round, offering 40 blocks across various terrains to both local and foreign investors. Oritsemeyiwa Eyesan, the commission chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), announced this initiative on Tuesday in Abuja during the commission’s fifth anniversary celebration.
The licensing round has received approval from President Bola Tinubu, who also serves as the Minister of Petroleum Resources. Eyesan stated that the bidding process will require investors to disclose their beneficial owners, with the commission committing to publish full evaluation results.
These measures aim to enhance Nigeria's competitiveness for capital in a challenging global market. She noted that Nigeria's share of Africa's upstream capital commitments increased from 4% in 2021 to 38% in 2025, and since 2024, NUPRC has approved 120 field development plans backed by over $47 billion in capital commitments.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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