By Oke Peter
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the 2026 Licensing Round with 40 oil and gas blocks on offer.
The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, made the announcement at the 5th anniversary ceremony of the NUPRC themed, ‘From Uncertainty to Stability: Unlocking the Next Phase of Investment’, in Abuja on Tuesday, October 2, 2026.
She said, “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 that in line with the counsel of the Nigeria Extractive Industries Transparency Initiative (NEITI), guidelines for the 2026 licensing round will also set out evaluation methodology in full, provide for fuller publication of results, and require disclosure of the beneficial owners of every bidder.
Eyesan said in the coming days, the Commission will publish full details of the blocks on offer, the qualification requirements, and the procedures for participation on its website and the dedicated licensing round portal.
“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.
In her anniversary speech which centered on the event theme, the NUPRC boss noted that in the last five years, the upstream petroleum sector had witnessed many positive changes thanks to the transparency and predictability ushered in by the Petroleum Industry Act along with the executive ordered issued by President Bola Tinubu.
On immediate plans to increase oil production, she said, “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 past directors of the defunct Department of Petroleum Resources (DPR) as well as the pioneer leadership of the NUPRC and former leaders of the National Assembly who played pivotal roles in the passage of the PIA including former Senate President Ahmad Lawan; and former Speaker, Rt.Hon Femi Gbajabiamila.
The Commission also unveiled the special edition of its in house magazine, ‘The Upstream Gaze’ as well as a documentary detailing the journey of the Commission in the last five years.
The event was attended by President Bola Ahmed Tinubu who was represented by Vice President Kashim Shettima while the OPEC Governor for Nigeria, Mr. Ademola Adeyemi Bero, delivered the lecture.
Others in attendance were the Chairman, Senate Committee on Gas, Senator Agom Jarigbe; Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; the Group Chief Executive Officer of the Nigerian National Petroleum Company, Engineer Bayo Bashir Ojulari; heads of government agencies and captains of industry.
