Nigeria’s upstream regulator announces a new 2026 oil licensing round that offers 40 oil blocks to investors. Coverage agrees the offer spans land, shallow-water and deepwater areas, aiming to bring in new capital into Nigeria’s petroleum sector. Outlets also link the move to reported increases in production and to the government’s stated objective of expanding exploration and development.
NUPRC Chief Executive Oritsemeyiwa Eyesan is cited as announcing the round during the commission’s fifth anniversary events in Abuja, with President Bola Tinubu and the Minister of Petroleum Resources approving the initiative. Several reports add that new bidding guidelines will require disclosure of beneficial owners and that the evaluation methodology and results will be published to support transparency. Other details mentioned across sources include references to prior licensing activity, including the 2025 round’s number of bids and winners, and a broader backdrop of investment figures associated with upstream projects. One source also cites production at around 1.82 million barrels per day, including condensate, as part of the context for the licensing push.
