The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed ministerial approval for the 2026 Oil and Gas Licensing Round, set to launch no later than Q3 2026. Approximately 300 companies have already indicated interest in roughly 50 upstream assets across Nigeria’s sedimentary basins. The round follows directly from the completed 2025 round which awarded 37 blocks to 31 companies from 143 bids. Under PIA 2021, NUPRC intends to run annual licensing cycles.
Procurement Details
Key Issues / Risks
Round launching while 2025 winners still awaiting final ministerial approvals (October 2026). 13 blocks from 2025 that received no bids expected to return to 2026 basket.
Latest Development (Detail)
NUPRC CEO confirmed Q3 2026 launch June 3, 2026. 2025 round concluded July 21, 2026 with 31 winners. 2026 preparations underway as of August 2026.
What Happens Next
Official launch announcement and portal opening — Q3 2026 (this quarter).
Commercial Opportunity
The most commercially significant upstream licensing event in West Africa in 2026 — 50 blocks, onshore to deepwater. Every E&P company with Nigeria exposure needs to be tracking this.