The Federal Government will officially launch a bidding portal on November 20, 2026, putting 40 oil and gas blocks up for grabs in its latest licensing round.
The move is designed to attract fresh foreign capital into the nation’s upstream petroleum sector, according to Tribune Online. The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, announced the timeline on Monday during the Abu Dhabi International Petroleum Exhibition and Conference in the United Arab Emirates.
Eyesan explained that Nigeria is working hard to position itself as an attractive, secure destination for energy investment at a time of tight international competition. She noted that the country has addressed lingering investor worries by rolling out a competitive fiscal system, tightening operational security, and lowering production costs.
Nigeria’s oil and gas sector previously suffered from chronic issues, including oil theft, pipeline vandalism, heavy operational costs, and regulatory delays. Eyesan maintained that the Petroleum Industry Act of 2021, coupled with recent executive orders issued by President Bola Tinubu, helped remove many of these structural roadblocks.
Between 2021 and 2026, the commission carried out at least four successful licensing exercises. Regulators hope the upcoming November round will continue that streak and bring in the capital required to ramp up exploration and daily crude output.
Beyond crude oil, the regulator highlighted Nigeria’s massive natural gas assets as a prime opening for investors. While the nation sits on roughly 215 trillion cubic feet of proven gas reserves, current daily production remains below seven billion cubic feet.
Eyesan stressed that Nigeria is developing infrastructure to close that gap and supply regional and European destinations. She pointed to cross-border initiatives like the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline as key ventures ready to channel supplies to wider international markets.
