The Commission Chief Executive, Oritsemeyiwa Eyesan, announced the date on Monday, November 2, at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
According to a statement signed by Eniola Akinkuotu, Head of Media and Corporate Communications at the NUPRC, Eyesan urged international investors to consider Nigeria’s upstream petroleum sector, citing improvements in regulation, fiscal incentives and security.
Speaking during a roundtable discussion titled Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security, she said the country was positioning itself to attract more investment amid uncertainties in global energy markets.
“We are expecting investors to turn to Nigeria. We are going in for another licensing round and we will be launching our bid portal on November 20,” she said.
The licensing round is part of the Federal Government’s efforts to increase investment in oil and gas exploration and production, expand reserves and strengthen Nigeria’s position in the global energy market.
NUPRC Highlights Petroleum Industry Act and Investment Incentives
Eyesan attributed improvements in Nigeria’s upstream investment environment to the Petroleum Industry Act (PIA), enacted in 2021, and executive orders introduced by President Bola Tinubu.
She said the government had established a fiscal framework and introduced incentives to help investors manage operating costs and reduce the risks associated with developing petroleum assets.
According to the NUPRC chief executive, the commission has conducted at least four licensing rounds between 2021 and 2026, marking a departure from the less frequent bidding exercises that characterised the period before the PIA.
She said Nigeria was also addressing concerns that traditionally discourage investment in the upstream sector, including project execution risks, high operating costs, delays and regulatory uncertainty.
The commission is seeking to make the country more competitive as oil-producing nations compete for international capital and exploration funding.
Nigeria’s 215 TCF Gas Reserves Offer Investment Opportunities
Eyesan also highlighted Nigeria’s natural gas resources as a major investment opportunity, noting that the country has estimated reserves of 215 trillion cubic feet (TCF), with daily production of approximately seven billion cubic feet (Bcf).
She said recently completed infrastructure projects were expected to improve gas availability within Nigeria and support supply to neighbouring countries.
The NUPRC chief executive identified the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline as important projects that could expand access to Nigerian gas across regional and international markets, including Europe.
The projects are expected to strengthen domestic gas supply while creating additional export opportunities and positioning Nigeria to serve growing energy demand across Africa and beyond.
Eyesan said Nigeria’s investment framework was being adjusted to reduce the risks associated with developing its petroleum resources and encourage investors to commit capital to exploration and production.
Nigeria Offers 40 Blocks in 2026 Licensing Round
The 2026 licensing round offers 40 blocks across onshore, shallow-water and deepwater terrains to Nigerian and international investors.
The exercise follows the 2025 licensing round, in which 31 companies emerged as winners of 37 oil and gas blocks after a competitive bidding process.
The previous round attracted interest in established petroleum-producing areas as well as frontier basins, with the NUPRC shortlisting successful bidders ahead of the final awards.
The opening of the 2026 bid portal on November 20 will begin the next stage of the process, allowing prospective investors to participate in the bidding exercise.
For Nigeria, the latest licensing round is an opportunity to attract fresh exploration capital, increase upstream production capacity and develop its substantial oil and gas resources as competition for global energy investment intensifies.
