The Nigerian Upstream Petroleum Regulatory Commission will open the bidding portal for the 2026 oil and gas licensing round on November 20, offering 40 blocks to local and international investors.
The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, announced this at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, according to a statement signed by the commission’s Head of Media and Corporate Communications, Eniola Akinkuotu.
Eyesan urged investors to explore opportunities in Nigeria’s upstream sector, describing the country as an attractive investment destination despite uncertainties in the global energy market.
She identified improvements in the regulatory framework, fiscal incentives and enhanced security as key factors strengthening the investment environment ahead of the new licensing round.
Speaking at a roundtable discussion titled ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’, Eyesan said Nigeria had implemented measures to improve the competitiveness of its oil and gas sector.
“We are expecting investors to turn to Nigeria. We are going in for another licensing round and we will be launching our bid portal on November 20,” she said.
She noted that the government had introduced a fiscal framework and investment incentives aimed at helping operators manage costs and minimise operational risks.
Eyesan said improvements in Nigeria’s investment climate were partly driven by the Petroleum Industry Act, enacted in 2021, and executive orders signed by President Bola Tinubu.
She disclosed that the NUPRC had conducted at least four licensing rounds between 2021 and 2026, attracting additional investment into the country’s oil and gas sector. This represents a departure from the pre-PIA era, when licensing rounds were held less frequently.
According to her, Nigeria is also taking steps to address key concerns investors consider before committing capital, including project execution risks, operating costs, delays and regulatory uncertainty.
Eyesan also identified Nigeria’s gas resources as a major investment opportunity, stating that the country holds an estimated 215 trillion cubic feet of gas reserves, with daily production of about seven billion cubic feet (bcf).
She said recently completed infrastructure projects were expected to strengthen gas supply within Nigeria and across the wider region.
The NUPRC chief executive also pointed to the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline as strategic projects that could expand access to Nigerian gas in regional and international markets, including Europe.
