The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the 2026 Licensing Round, offering 40 oil and gas blocks to investors.
The NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, announced this at the Commission’s fifth anniversary ceremony in Abuja on Tuesday, October 2, 2026.
The anniversary was themed, ‘From Uncertainty to Stability: Unlocking the Next Phase of Investment’.
According to Eyesan, the licensing round was approved by President Bola Tinubu, who is also the Minister of Petroleum Resources.
“It is with great joy that I announce that, pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigeria 2026 Licensing Round is hereby formally launched.
“The round offers 40 blocks across land, shallow water and deep water terrains. They are open to investors with the technical competence, the financial capacity and, above all, the commitment to develop Nigeria’s petroleum resources.”
Eyesan said the guidelines for the licensing round would, in line with the counsel of the Nigeria Extractive Industries Transparency Initiative (NEITI), provide the full evaluation methodology, allow for fuller publication of results and require disclosure of the beneficial owners of every bidder.
She said the Commission would publish details of the blocks on offer, qualification requirements and participation procedures on its website and dedicated licensing round portal in the coming days.
“So, I invite qualified Nigerian and international investors to come and compete. Bring your best ideas, your best partners and your best bids. May the best bids win,” she said.
NUPRC Targets Higher Oil Production
Eyesan said the upstream petroleum sector had witnessed positive changes in the last five years, attributing this to the transparency and predictability introduced by the Petroleum Industry Act and an executive order issued by President Tinubu.
She said the Commission’s immediate focus would be on measures to increase oil and gas production.
“Our licensing will be regular and predictable. Our focus will be on what moves the numbers: restoring the more than 788,000 barrels per day of shut-in production identified across 63 operators; taking offshore projects valued at an estimated $30 billion to $50 billion to final investment decision; and raising domestic gas delivery from about two-thirds of the domestic obligation to full delivery.”
At the event, the NUPRC honoured former directors of the defunct Department of Petroleum Resources (DPR), members of the pioneer leadership of the NUPRC and former National Assembly leaders who played pivotal roles in the passage of the Petroleum Industry Act.
Those honoured included former Senate President Ahmad Lawan and former Speaker, Rt. Hon. Femi Gbajabiamila.
The Commission also unveiled a special edition of its in-house magazine, ‘The Upstream Gaze’, as well as a documentary detailing its journey over the past five years.
President Tinubu was represented at the event by Vice President Kashim Shettima, while the OPEC Governor for Nigeria, Ademola Adeyemi Bero, delivered the anniversary lecture.
Others in attendance included the Chairman of the Senate Committee on Gas, Senator Agom Jarigbe; Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Group Chief Executive Officer of the Nigerian National Petroleum Company, Engineer Bayo Bashir Ojulari; heads of government agencies and captains of industry.
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