NUPRC to commence 2026 oil licensing round in Q3 2026

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved the 2026 Licensing Round to commence in Q3 2026, following Minister of Petroleum Resources approval under the Petroleum Industry Act (PIA). The 2025 commercial bid will take place this July, after which the next licensing round will begin.

NUPRC Chief Executive Oritsemeyiwa Eyesan highlighted the growing attractiveness of Nigeria's oil and gas sector under President Tinubu, evidenced by rising investments and increased production. Meren Energy, which has invested $11bn in Nigeria's Agbami, Akpo, and Egina fields over 20 years, confirmed the reforms have inspired further investment in the country.

Meren Energy ranked Nigeria as its top investment priority in Africa and has paid over $4bn in taxes and royalties. The company expressed interest in asset divestments and upcoming licensing rounds, signaling continued confidence in Nigeria's oil sector.

For oil and gas companies and investors, does Nigeria's improved investment climate make this licensing round more attractive than previous ones, and what competitive advantage does local experience like Meren's $11bn investment footprint provide?

SOURCE: https://www.channelstv.com/2026/06/04/nuprc-to-commence-2026-licensing-round-in-q3/