The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that President Bola Tinubu has approved the commencement of the 2026 oil block licensing round, with the exercise expected to begin before the end of the year.
The commission disclosed that preparations are underway for the licensing process, which is scheduled to be launched by the third quarter of 2026 in line with regulations governing Nigeria’s upstream petroleum sector.
Speaking during a visit by Meren Energy to the NUPRC headquarters in Abuja, the Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, said the approval demonstrates the Federal Government’s commitment to attracting more investment into the oil and gas industry.
She explained that the ongoing 2025 licensing round is progressing well, with commercial bidding expected to take place in July. According to her, increasing investor interest in the current exercise reflects growing confidence in Nigeria’s upstream sector following recent reforms aimed at improving competitiveness and boosting production.
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Eyesan noted that the outcome of the 2025 round would provide a strong foundation for the next phase of oil asset allocation and help sustain investor confidence.
Meanwhile, Meren Energy reaffirmed its commitment to expanding operations in Nigeria, describing the country as a key investment destination in Africa. The company’s Group Chief Executive, Dr Oliver Quinn, said Nigeria remains central to its business strategy due to the quality of its oil and gas assets.
The planned licensing round comes as Nigeria intensifies efforts to attract fresh investments, increase crude oil production and strengthen the performance of its energy sector amid changing global energy trends.
