Federal government has opened its 2026 oil and gas licensing round, offering 40 blocks across land, shallow water and deepwater areas to local and foreign investors, the upstream regulator announced Tuesday.
Oritsemeyiwa Eyesan, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), made the announcement in Abuja during the agency’s fifth anniversary celebrations. The round received approval from President Bola Tinubu, who also serves as Minister of Petroleum Resources.
The blocks are open to investors with the technical competence, financial strength and commitment needed to develop the country’s petroleum resources, Eyesan said.
“The measures are meant to help Nigeria compete for capital in a tightening global market,” she said. “Competition for upstream capital is fierce. Investors go where rules are clear, processes are predictable and data can be trusted.”
Under the new process, bidders must disclose their beneficial owners. The commission will also publish the full evaluation results of the bidding exercise to strengthen transparency.
Eyesan credited presidential directives with shortening contracting cycles and providing greater fiscal certainty for investors.
The 2026 round follows the 2025 licensing exercise, in which 31 companies won 37 oil and gas blocks after a competitive process that attracted 143 companies submitting 200 bids. The earlier round covered the Niger Delta onshore and shallow water areas as well as frontier basins including the Benue Trough, Chad Basin and Anambra Basin.
NUPRC said full details of the 40 blocks, qualification requirements and application procedures would be published on its website and dedicated licensing portal.
