NUPRC Confirms 2026 Oil and Gas Licensing Round Will Start by Q3
By Aboki Forex —
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 oil and gas licensing round will begin by the third quarter of 2026. The commission received approval from the Minister of Petroleum Resources for the exercise.
NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, disclosed this on Wednesday while receiving a delegation from Meren Energy, formerly Africa Oil, at the commission’s headquarters in Abuja.
“The 2026 Licensing Round will commence latest by Q3 2026, having received the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act,” a statement from the commission said.
Progress on 2025 Licensing Round
Eyesan expressed satisfaction with the ongoing 2025 licensing round. She said the commercial bid phase is scheduled for July. Preparations for the next round will begin after that.
The 2025 licensing round launched on 1 December 2025 under former NUPRC Chief Executive, Gbenga Komolafe. At the launch, Komolafe said the commission was tackling funding constraints in the upstream sector by improving collaboration among stakeholders.
“One of the factors that affected business is that activities were happening in silos, but the NUPRC now realises the need to bring everyone together,” he said.
In January, the commission hosted a webinar for global energy investors, upstream operators, financial institutions and strategic partners. In March, the NUPRC completed the pre-qualification stage, allowing successful applicants to lease geological and technical data for bid submissions.
The regulator said applicants must source data from approved channels and provide proof of payment before submitting bids.
Growing Investor Confidence
Eyesan said increased participation in the 2025 licensing round reflects growing confidence in Nigeria’s oil and gas sector. She credited rising investments, improved production levels and reforms under President Bola Tinubu’s administration.
“We are also fortunate that the President and Minister of Petroleum Resources have approved the 2026 Licensing Round,” she said. “So, we are in the process of finalising the 2026 launch which will happen latest by the third quarter. So, this is the make-or-break point, and we want to make sure we make it.”
Meren Energy Group CEO, Oliver Quinn, said reforms in Nigeria’s oil and gas sector have encouraged the company to expand investments and participate more in asset acquisitions and licensing opportunities.
Quinn said Nigeria remains Meren Energy’s top investment destination in Africa. “We have operated in Agbami, Akpo and Egina world-class fields. I think till date, in 20 years, about $11 billion in capital from our side has gone into these assets, and about $4 billion has gone to tax and royalties,” he said.
“Nigeria remains the core of our business today because of the quality of these assets.”
Quinn added that the company is encouraging its partners to deepen investments in existing assets to boost production. He also said Meren Energy was the first company in Nigeria to sell crude oil to the Dangote refinery and will continue to meet its Domestic Crude Supply Obligation if commercial terms remain favourable.