NUPRC opens 2026 oil licensing bid portal Nov 20 with 40 blocks up for grabs
NUPRC opens the bid portal for Nigeria's 2026 oil and gas licensing round on November 20, offering 40 blocks across onshore, shallow-water and deepwater terrains to local and international investors. Commission Chief Executive Mrs. Oritsemeyiwa Eyesan announced the date at the ADIPEC conference in Abu Dhabi on November 2.
The government says improvements in the regulatory environment, fiscal incentives and security make Nigeria an attractive destination amid global energy uncertainties. Eyesan credits the Petroleum Industry Act (2021) and President Tinubu's executive orders for the shift—at least four licensing rounds held between 2021 and 2026, compared to infrequent rounds before the PIA. The 2025 round saw 31 companies win 37 blocks after competitive bidding.
Nigeria's gas reserves stand at 215 trillion cubic feet with daily production around 7 billion cubic feet. Recently completed infrastructure projects should improve domestic and regional supply. The proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline could expand access to European and regional markets.
NUPRC says it has addressed typical investor concerns: project execution risks, costs, delays and regulatory uncertainty. Competition for oil and gas capital has intensified as more countries develop petroleum resources.
For investors tracking Nigeria's upstream sector: the portal goes live November 20. Will you bid on one of the 40 blocks, or watch how this round shapes Nigeria's energy trajectory before committing?