The Federal Government has opened the 2026 Nigeria oil licensing round, offering 40 oil blocks across land, shallow-water and deepwater terrains as the country moves to attract fresh investment into the upstream oil and gas sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the licensing round on Tuesday during its fifth anniversary celebration in Abuja.
NUPRC Chief Executive, Oritsemeyiwa Eyesan, said the 2026 oil licensing round was approved by President Bola Tinubu and the Minister of Petroleum Resources, Heineken Lokpobiri.
She said the blocks would be open to investors with the required technical expertise, financial capacity, and commitment to developing Nigeria’s petroleum resources.
The new NUPRC oil licensing guidelines will require bidders to disclose their beneficial owners, while the commission will publish its evaluation methodology and results to improve transparency.
“Investors have choices. They go where the rules are clear, where the process is predictable and where data can be trusted,” Eyesan said.
The announcement followed the 2025 Nigeria oil licensing round, in which 143 companies submitted 200 bids, with 31 companies emerging as winners of 37 blocks.
Eyesan said lessons from previous licensing rounds, as well as recommendations from the Nigeria Extractive Industries Transparency Initiative (NEITI), would be incorporated into the 2026 process.
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She also assured investors that the commission would publish and adhere to the licensing timetable, stressing that certainty was important for companies seeking board approvals, mobilising funds and preparing bids.
Meanwhile, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said Nigeria’s crude oil and condensate production had risen to 1.82 million barrels per day, representing an increase of more than 80 per cent from the level recorded when the Tinubu administration assumed office in 2023.
The minister attributed the production growth partly to increased drilling activity, with more than 73 rigs currently active in the country.
The NUPRC also disclosed that it had approved 120 Field Development Plans since 2024, representing about $47.6 billion in capital commitments. The projects are expected to add 1.74 million barrels of oil and 13.9 billion standard cubic feet of gas per day to Nigeria’s production capacity when fully developed.
Eyesan said the new licensing round would support Nigeria’s efforts to increase oil and gas production and attract more upstream investment.
She warned successful bidders that winning an oil block would come with an obligation to develop it.
“To those who will win, my message remains the same: Drill or Drop. A licence is a commitment to Nigeria, not a trophy on the wall,” she said.
The NUPRC said full details of the 40 oil blocks, qualification requirements and participation procedures would be published on its website and dedicated licensing portal.
