The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission, has announced the 2026 oil licensing round, offering 40 blocks across land, shallow water and deepwater terrains as the Federal Government intensifies efforts to attract fresh investment into the upstream sector.
The Commission also said the new bidding guidelines would require the disclosure of the beneficial owners of every bidder, while the evaluation methodology and results of the exercise would be published more fully.
The Commission’s Chief Executive Officer, Oritsemeyiwa Eyesan, announced the licensing round during her closing remarks at the fifth anniversary celebration of the NUPRC in Abuja on Tuesday.
Eyesan said the announcement followed the approval of President Bola Tinubu and the Minister of Petroleum Resources, adding that the blocks would be open to investors with the required technical competence, financial capacity and commitment to develop Nigeria’s petroleum resources.
“Ladies and gentlemen, the wait is over. It is
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