The Federal Government has put 40 oil and gas blocks on the market in a fresh move to attract global energy investments into the country. The Nigerian Upstream Petroleum Regulatory Commission confirmed that the official portal for the 2026 licensing round will open on November 20, 2026.
NUPRC Commission Chief Executive Oritsemeyiwa Eyesan announced the offer on Monday during the Abu Dhabi International Petroleum Exhibition and Conference in the United Arab Emirates, according to Tribune Online. She addressed industry stakeholders at a roundtable discussion focused on energy sovereignty, markets, and global security.
Eyesan explained that Nigeria is presenting a more stable and competitive environment for investors despite rising worldwide energy competition. She said the nation has tackled major bottlenecks such as high operating costs, regulatory uncertainty, and execution risks by introducing better fiscal terms and improving security across operational areas.
The NUPRC boss credited the improved climate to the Petroleum Industry Act enacted in 2021, as well as policy directives issued by President Bola Tinubu. She noted that Nigeria conducted at least four successful licensing rounds between 2021 and 2026, marking a steady shift from earlier years when bid rounds were rare.
Beyond crude oil, Eyesan pitched the nation's untapped natural gas capacity to prospective bidders. Nigeria holds about 215 trillion cubic feet of gas reserves but currently extracts barely seven billion cubic feet daily, leaving a massive gap for potential development.
She pointed to completed domestic supply links and ambitious cross-border routes, including the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline. She said these projects will eventually position Nigeria to satisfy rising energy needs across Africa while boosting gas shipments to European markets.
