FG OFFERS 40 OIL BLOCKS IN LICENSING ROUND

Federal Government launches the 2026 oil and gas bid round through the NUPRC, opening onshore, shallow water, and deepwater assets to boost upstream investments

The Federal Government has officially launched the 2026 oil licensing round, putting forward 40 blocks spanning land, shallow water, and deepwater terrains for competitive bidding by domestic and international investors.  

The initiative was announced by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the approval of President Bola Tinubu.  

Regulatory authorities emphasized that the current exercise is structured to maintain a transparent, predictable, and competitive framework designed to attract serious upstream capital.  

The bidding guidelines mandate strict compliance measures, including enhanced disclosures of beneficial ownership and open evaluation methodologies to ensure a level playing field for all participants.  

Industry watchers note that the latest licensing round aims to expand the country's hydrocarbon reserves, stimulate exploration activities, and reinforce Nigeria's position as a preferred destination for energy investments.