Nigeria launches 2026 oil licensing round with 40 blocks

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched its 2026 oil and gas licensing round, offering 40 blocks across land, shallow-water, and deepwater terrains. Announced by CEO Oritsemeyiwa Eyesan during the commission’s fifth anniversary in Abuja, the round aims to attract international and local investors with the technical and financial capacity to develop Nigeria’s petroleum resources.

To increase transparency and compete for global capital, the NUPRC is implementing new measures, including the mandatory disclosure of beneficial owners for all bidding companies. The commission also plans to publish full evaluation methodologies and results to ensure a predictable and fair process.

This initiative follows the 2025 licensing round, which saw 143 companies submit 200 bids. Additionally, the NUPRC has been enforcing a ‘drill-or-drop’ policy, recently recovering over 50 oil fields from licensees that failed to meet development obligations under the Petroleum Industry Act. Vice President Kashim Shettima noted that these reforms have transitioned the sector toward more open and competitive bidding processes.