The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has launched the 2026 oil licensing round, offering 40 blocks across land, shallow water and deepwater terrains in a bid to attract fresh investment into the upstream petroleum sector.
NUPRC Chief Executive Officer Oritsemeyiwa Eyesan announced the round during her closing remarks at the commission’s fifth anniversary celebration in Abuja on Tuesday.
She said the initiative follows the approval of President Bola Tinubu and the Minister of Petroleum Resources.
“This round offers 40 blocks across land, shallow water and deepwater terrains,” Eyesan stated.
“They are open to investors with the technical competence, financial capability and, above all, the commitment to develop Nigeria’s petroleum resources.”
The new bidding guidelines will require disclosure of the beneficial owners of every bidder. The evaluation methodology and results of the exercise will also be published more fully to enhance transparency.
Eyesan recalled that in the 2025 licensing round, 143 companies submitted 200 bids, with 31 firms emerging as winners of 37 blocks.
That exercise marked a notable shift in investor interest beyond traditional Niger Delta areas, as frontier basins including the Anambra Basin, Benue Trough, Chad Basin and Benin Basin attracted significant attention.
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