Nigeria sets timeline for 2026 licensing round

ABUJA, June 4, 2026 – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will launch its 2026 licensing round by Q3 2026, the regulator announced on Wednesday.

The commercial bidding phase for the 2025 licensing round, which was launched after delays in December 2025, will take place in July, with the 2026 licensing round expected to commence thereafter.

NUPRC chief executive Oritsemeyiwa Eyesan said the heightened participation in the 2025 Licensing Round was a testament that Nigeria was headed in the right direction, and the rise in investments, coupled with the upswing in production, was evidence that Nigeria’s oil and gas sector had become attractive.

Details regarding the acreage on offer were not provided in the announcement. The 2025 licensing round offered 50 oil and gas blocks, including 15 onshore assets, 19 shallow-water assets, 15 frontier basin blocks and one deepwater block. Nigeria is aiming to raise crude output to 2.7 million bopd by 2027 from the current level of approximately 1.5 million bopd.

NUPRC’s announcement took place during a visit to the commission’s headquarters by Africa-focused Canadian oil and gas company Meren Energy, which indicated it would make new investments in the country’s upstream.

“We have operated in the Agbami, Akpo and Egina world-class fields. In 20 years, about USD 11 billion in capital from our side has gone into these assets, and about USD 4 billion has gone to tax and royalties. Nigeria remains the core of our business today,” said Oliver Quinn, group CEO of Meren Energy.

Chevron and TotalEnergies have previously expressed interest in participating in the auction.

Nigeria has lowered the cost of entry into its upstream sector to attract investors, reducing the signature bonus for the 2025 round to USD 3 million-7 million, down from USD 10 million in 2024 and about USD 200 million several years ago. The country has also introduced incentives for new gas-only developments, deepwater projects and efficiency improvements.

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