The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched the 2026 Licensing Round, offering 40 oil and gas blocks to investors as part of a broader push to revive shut-in production, attract fresh capital and accelerate major upstream projects.
The Commission is also targeting the recovery of more than 788,000 barrels per day of shut-in production across 63 operators, while seeking to move offshore projects valued at between $30 billion and $50 billion towards Final Investment Decision.
Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, announced the licensing round at the NUPRC’s fifth anniversary ceremony in Abuja, themed “From Uncertainty to Stability: Unlocking the Next Phase of Investment.”
Eyesan said the exercise was approved by President Bola Tinubu and would cover blocks across land, shallow-water and deep-water terrains.
“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,” she said.
“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 full details of the blocks, qualification requirements and procedures for participation would be published on the Commission’s website and dedicated licensing round portal in the coming days.
She said the 2026 round would also feature stronger transparency safeguards, including publication of the evaluation methodology, fuller disclosure of results and mandatory disclosure of the beneficial owners of every bidder.
According to her, the measures are in line with recommendations by the Nigeria Extractive Industries Transparency Initiative.
“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 788,000bpd production recovery
Eyesan said the Commission’s immediate priority was to increase oil and gas production by restoring shut-in output, accelerating offshore investments and improving domestic gas supply.
“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,” she said.
The targets place the licensing round within a wider strategy to increase production from existing assets while creating a clearer pipeline for new investments in Nigeria’s upstream petroleum sector.
Eyesan said the industry had undergone significant changes over the past five years, attributing the improved regulatory environment to the Petroleum Industry Act and petroleum-sector executive orders issued by President Tinubu.
She said the reforms had improved transparency, predictability and investor confidence, while providing a clearer framework for long-term investment decisions.
The anniversary event was attended by President Tinubu, represented by Vice President Kashim Shettima, while Nigeria’s OPEC Governor, Ademola Adeyemi-Bero, delivered the anniversary lecture.
Other attendees included Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari; Chairman of the Senate Committee on Gas, Senator Agom Jarigbe; heads of government agencies and industry executives.
The Commission also honoured former directors of the defunct Department of Petroleum Resources, pioneer NUPRC leaders and former National Assembly officials who played key roles in the passage of the Petroleum Industry Act, including former Senate President Ahmad Lawan and former Speaker Femi Gbajabiamila.
NUPRC also unveiled a special edition of its in-house magazine, The Upstream Gaze, and a documentary chronicling the Commission’s first five years.
