2026 Licensing Round: NUPRC Opens 40 Oil and Gas Blocks to Investors

The 2026 Licensing Round has opened with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) offering 40 oil and gas blocks to Nigerian and international investors.

NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, announced the new round at an event in Lagos on Tuesday.

She said President Bola Ahmed Tinubu, who also serves as Minister of Petroleum Resources, approved the licensing round.

“It is with great joy that I announce that, pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, the Nigeria 2026 Licensing Round is hereby formally launched,” Mrs Eyesan said.

The NUPRC said the 2026 Licensing Round covers 40 blocks across three areas. They include land, shallow water and deep water terrains.

Mrs Eyesan urged qualified investors to participate in the bidding process.

She called on investors to submit their strongest proposals and bids.

“Bring your best ideas, your best partners and your best bids. May the best bids win,” she said.

The announcement comes months after Nigeria concluded its 2025 licensing round.

During the 2025 exercise, 31 companies emerged as winners of 37 oil and gas blocks.

However, the previous round attracted allegations over the award of some of the blocks.

Ayodele Momoh, convener of the Oil & Gas Professionals Forum, alleged that two oil blocks went to friends and allies of Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL).

The NNPCL denied the allegation.

The latest 2026 Licensing Round will therefore give investors another opportunity to compete for oil and gas assets in Nigeria.

The NUPRC has invited qualified Nigerian and international investors to take part in the process.

Further details on the bidding process, available blocks and participation requirements are expected to guide prospective investors.