Nigeria is offering 40 oil and gas blocks to investors under its 2026 Licensing Round as the Federal Government intensifies efforts to attract fresh capital into the country’s upstream petroleum sector and strengthen its position in the global energy market.
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, disclosed this at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi, United Arab Emirates, where she urged international investors to take advantage of Nigeria’s improving investment climate.
Key Highlights
- Nigeria is offering 40 oil and gas blocks to investors in the 2026 Licensing Round.
- The NUPRC will officially open the bid portal on November 20, 2026.
- The government says improved security, fiscal incentives and cost-management measures are designed to attract investors.
- Eyesan attributes improvements in the investment climate to the Petroleum Industry Act and executive orders signed by President Bola Tinubu.
- Nigeria has approximately 215 trillion cubic feet of proven gas reserves.
- Proposed gas infrastructure projects include the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline.
Eyesan announced that the licensing portal would officially open on November 20, 2026, expressing optimism that the exercise would attract significant participation from local and international investors.
She spoke during a roundtable discussion titled, “Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security,” at the conference on Monday.
According to her, Nigeria has introduced an attractive fiscal framework, improved security and strengthened cost-management measures to make the country more competitive in the global search for upstream oil and gas investments.
She urged investors to take advantage of the opportunities presented by the 40 blocks being offered under the licensing exercise.
“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. We expect to see interested investors because the environment is a lot more competitive,” she said.
NUPRC Highlights Reforms to Attract Oil and Gas Investments
The NUPRC chief executive said the Federal Government had introduced incentives and strengthened the operating environment to encourage investors to commit capital to Nigeria’s oil and gas industry.
She attributed the improvement in the investment climate to the Petroleum Industry Act (PIA) 2021 and executive orders signed by President Bola Tinubu.
Eyesan disclosed that between 2021 and 2026, the commission had conducted at least four successful licensing rounds, which she said had helped attract investments into the sector.
She described the development as a significant departure from the pre-PIA period, when licensing rounds were less frequent.
Nigeria’s 215 Trillion Cubic Feet Gas Reserves Offer Investment Opportunities
Beyond crude oil production, Eyesan identified Nigeria’s vast natural gas resources as another major investment opportunity.
She noted that the country has approximately 215 trillion cubic feet of proven gas reserves but produces barely seven billion cubic feet daily.
According to her, ongoing and planned infrastructure projects would help unlock Nigeria’s gas potential and position the country as a major supplier to domestic, regional and international markets.
She said recently completed infrastructure projects would improve gas supply within Nigeria and the sub-region, while proposed projects such as the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline could create additional export opportunities.
“The stars are already aligned. For gas infrastructure, we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region,” she said.
Read also:
- FG Opens 2026 Nigerian Oil Licensing Round, Offers 40 Oil Blocks to Investors
- Nigeria Records $3.5bn Gas Projects as Output Rises to 7.5 Bcf/d
- Nigeria Targets $21bn Investment, 175,000bpd From Bonga Southwest Project
- NNPC GCEO Bashir Ojulari to Showcase Nigeria’s Oil and Gas Reforms at ADIPEC 2026
NUPRC Says Nigeria Is Addressing Investment Risks
Eyesan maintained that competition for global petroleum investments had intensified as more countries seek to attract capital into their energy industries.
She said Nigeria was responding by addressing key factors investors consider before committing funds, particularly execution risks, project costs, delays and regulatory uncertainty.
She stressed that reducing these risks remained critical to attracting the capital required to develop the country’s vast hydrocarbon resources.
The 2026 Licensing Round is expected to provide new opportunities for investors while supporting Nigeria’s efforts to increase upstream activity, attract fresh investment and maximise its oil and gas potential.
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