Nigeria is set to open its 2026 petroleum licensing round bidding portal on November 20, giving local and international investors an opportunity to acquire interests in 40 available oil and gas blocks.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, announced the development on Monday while speaking at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi.
According to her, the licensing exercise is part of the government’s efforts to attract fresh investments into Nigeria’s oil and gas industry, increase production and strengthen the country’s position in the global energy market.
Eyesan explained that the commission has introduced an attractive fiscal framework and incentives designed to make Nigeria more competitive for investors. She also noted that improvements in the country’s investment environment and security arrangements are expected to encourage more companies to participate.
Nigeria has continued to face challenges in fully developing its petroleum resources despite having significant reserves. The country currently has an estimated 215 trillion cubic feet of natural gas reserves, but daily production remains around seven billion cubic feet.
The NUPRC chief executive said the gap between available gas reserves and actual production presents significant investment opportunities, particularly as the government works towards expanding gas infrastructure.
She also highlighted major proposed projects, including the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Saharan Gas Pipeline, which could improve gas transportation and supply across Africa and beyond.
The November 20 portal opening will mark an important stage in the licensing process, as interested investors prepare to submit bids for the available oil and gas assets.
The government hopes the exercise will attract new capital, create employment opportunities, improve domestic energy supply and increase revenue from the petroleum sector.
However, the success of the exercise will depend on whether the government can translate investor interest into actual investments, increased production and long-term benefits for the Nigerian economy.
