NUPRC Launches 2026 Oil Licensing Round with 40 Blocks

The Federal Government has initiated the 2026 oil and gas licensing round, offering 40 blocks across land, shallow water, and deepwater terrains to both local and foreign investors. This announcement was made by Mrs Oritsemeyiwa Eyesan, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), during the commission’s fifth anniversary in Abuja.

The licensing round has received approval from President Bola Tinubu, who also serves as the Minister of Petroleum Resources. The government aims to attract capital into Nigeria’s upstream oil and gas sector by requiring investors to demonstrate technical competence, financial strength, and commitment to developing the country's petroleum resources.

The process will incorporate measures to enhance transparency and competitiveness in a tightening global market, including the disclosure of beneficial owners by bidders and the publication of full evaluation results. This round follows the 2025 licensing process, which saw 31 companies awarded 37 oil and gas blocks.