President Bola Tinubu has approved the commencement of the 2026 oil and gas licensing round, with an aim to increase investment attraction and offer fresh opportunities to investors who may not emerge successful in the ongoing 2025 exercise.
The licensing round paves the way for the country’s third consecutive competitive bid round in recent years
The development was confirmed separately by the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, and the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in their separate addresses at the ongoing 2025 Commercial Bid Conference on Tuesday in Abuja.
The announcement came as the regulator commenced the opening of commercial bids submitted by qualified companies competing for oil and gas assets under the 2025 Licensing Round.
Addressing investors, Eyesan urged unsuccessful bidders not to be discouraged, stressing that Nigeria’s upstream petroleum sector extends far beyond the assets currently
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