The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened the 2026 Nigerian Licensing Round, offering 40 oil and gas blocks across land, shallow water and deepwater terrains as Nigeria intensifies efforts to attract fresh upstream investment and increase crude oil and gas production.
NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, announced the licensing round in Abuja on Tuesday during the commission’s fifth anniversary celebration, following approval by President Bola Tinubu and the Minister of Petroleum Resources. She said the blocks would be open to investors with the technical competence, financial capacity and commitment to develop Nigeria’s petroleum resources.
“Ladies and gentlemen, the wait is over. 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 Nigerian 2026 Licensing Round is hereby announced.
“This round offers 40 blocks across land, shallow water and deepwater terrains. I can see my IOC is already permutating. They are open to investors with the technical competence, financial capability and, above all, the commitment to develop Nigeria’s petroleum resources.
“We will not rest on our oars. Competition for upstream capital is fierce, and it grows fiercer by the day. Investors have choices. They go where the rules are clear, where the process is predictable and where data can be trusted.”
A major feature of the 2026 round is the NUPRC’s plan to strengthen transparency in the award process. The new guidelines will require bidders to disclose their beneficial owners, while the commission will publish its evaluation methodology and results more fully. The measures follow recommendations from the Nigeria Extractive Industries Transparency Initiative (NEITI) after its review of previous licensing rounds.
Eyesan said the reforms were consistent with the Petroleum Industry Act 2021, which replaced discretionary allocation of petroleum acreage with competitive bidding. “Of all the reforms the PIA brought, none speaks more to who we are than this: in Nigeria, petroleum acreage is won, not given. It is no longer discretionary. The PIA made transparent and competitive bidding the rules for the award of Petroleum Prospecting Licences and Petroleum Mining Leases. Clear rules have taken the place of discretion. We have honoured that reform.”
The latest exercise follows the 2025 licensing round, in which the NUPRC said 143 companies submitted 200 bids, with 31 companies emerging as winners of 37 blocks. Investor interest also extended beyond the traditional Niger Delta producing areas to frontier basins, including the Anambra Basin, Benue Trough, Chad Basin and Benin Basin. Since the PIA took effect, the commission said three licensing exercises have resulted in the award of 57 Petroleum Prospecting Licences.
For the government, the licensing programme is expected to translate into additional reserves and production if successful bidders develop the assets. Eyesan said assets offered in previous rounds could add about 500 million barrels of reserves and at least 300,000 barrels per day of crude oil and condensate production within five years, supporting Nigeria’s target of three million barrels per day by 2030. The assets are also expected to contribute about 20 trillion cubic feet of gas reserves and 50 million standard cubic feet of gas production per day.
However, Eyesan warned that securing acreage without developing it would no longer be acceptable, signalling a tougher stance on dormant licences. “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 blocks, qualification requirements and participation procedures would be published on its website and dedicated licensing portal in the coming days. It will also use a virtual data room, webinars and a dedicated help desk to provide investors with information and ensure that material clarifications are communicated equally to all participants.
For Nigeria’s upstream sector, the 2026 licensing round will ultimately be judged by the capital it attracts and, more importantly, how quickly awarded acreage moves from bidding to exploration, development, reserves and production. The NUPRC’s emphasis on predictable rules, fuller disclosure and its “Drill or Drop” position puts actual asset development at the centre of the latest push to deepen upstream investment.