Nigeria attracts interest in oil sector via local content model and 2026 licensing

Nigeria is attracting international interest in its petroleum sector through its local content development model and upcoming 2026 licensing round. A high-level delegation from the Republic of Congo, led by Minister of Hydrocarbons Stev Simplice Onanga, visited Abuja to study Nigeria’s framework for increasing indigenous participation in the oil and gas industry.

Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, reported that indigenous companies now account for approximately 60 per cent of Nigeria’s daily crude production. He attributed this growth to the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and the divestment of onshore and shallow-water assets by international oil companies to local firms like Seplat Energy and Oando.

Separately, Indonesia’s state-owned energy company, Pertamina, has expressed interest in participating in Nigeria’s 2026 licensing round. Discussions between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Indonesian officials focused on energy security and investment opportunities in producing assets to help both nations meet their respective production targets by 2030.