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President Bola Ahmed Tinubu has approved the commencement of Nigeria’s 2026 oil and gas licensing round, a move aimed at attracting fresh investment into the country’s upstream petroleum sector and expanding exploration opportunities.
The exercise will be coordinated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and is expected to provide new opportunities for investors while strengthening Nigeria’s position as a leading destination for oil and gas investment.
According to the Federal Government, the initiative forms part of broader efforts to increase crude oil production, expand the nation’s hydrocarbon reserves and enhance investor confidence in the energy industry. Officials also believe the licensing round will support economic growth, create employment opportunities and generate additional revenue for the country.
The 2026 licensing exercise is expected to be conducted in line with the provisions of the Petroleum Industry Act (PIA), with the government reiterating its commitment to transparency and competitiveness throughout the bidding process.
