Nigeria will launch its 2026 oil and gas licensing round by the third quarter of the year after securing ministerial approval, as Africa’s largest crude producer seeks to sustain investor interest and accelerate upstream investment. The announcement was made by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which said preparations for the next bid round are already underway, as reported by Reuters.
NUPRC Chief Executive Oritsemeyiwa Eyesan said the 2026 round will follow the commercial bidding phase of the ongoing 2025 licensing exercise, which is scheduled for July. The regulator noted that strong participation in recent bid rounds and rising investment commitments indicate growing confidence in Nigeria’s oil and gas sector following reforms introduced under the Petroleum Industry Act.
The move forms part of Nigeria’s strategy to hold successive licensing rounds to attract exploration and production capital, boost crude output, and unlock new reserves. The 2025 licensing round offered 50 oil and gas blocks across several sedimentary basins, with international and indigenous companies participating in the competitive bidding process.
Industry analysts say the upcoming auction could further strengthen Nigeria’s position as a leading destination for upstream energy investment in Africa. Recent commitments from major international energy companies, including Chevron and ExxonMobil, alongside ongoing efforts to increase crude production and improve regulatory certainty, have helped revive investor interest in the country’s petroleum sector.
