NUPRC Offers 40 Oil, Gas Blocks To Attract Global Investors
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on international oil and gas investors to explore investment opportunities in Nigeria as the Federal Government prepares to offer 40 oil and gas blocks under its 2026 licensing round.
The commission said Nigeria was strengthening its investment climate through improved security, attractive fiscal incentives and regulatory reforms aimed at attracting fresh capital into the upstream petroleum sector.
The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, disclosed this during a roundtable discussion at the 2026 Abu Dhabi International Petroleum Exhibition and Conference in Abu Dhabi on Monday.
Eyesan said the bidding portal for the licensing round would officially open on November 20, 2026, urging prospective investors to take advantage of the opportunities available in the country’s petroleum industry.
According to her, Nigeria is positioning itself to compete more effectively for global investment at a time when countries are intensifying efforts to attract limited international capital.
She noted that the government had introduced an attractive fiscal framework, strengthened security and implemented measures to manage operating costs and address concerns that previously discouraged investors.
Eyesan attributed the improvements in the investment environment to the Petroleum Industry Act, signed into law in 2021, and executive orders introduced by President Bola Tinubu to remove bottlenecks in the petroleum sector.
She added that the commission had conducted at least four successful licensing rounds between 2021 and 2026, reflecting a shift from the period before the enactment of the PIA, when licensing exercises were less frequent.
The NUPRC chief also highlighted Nigeria’s vast natural gas resources, disclosing that the country had approximately 215 trillion cubic feet of gas reserves, while daily production remained below seven billion cubic feet.
She said the gap between the country’s gas reserves and actual production presented significant opportunities for investors, particularly as the government seeks to expand domestic supply and develop export infrastructure.
Eyesan further identified the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Saharan Gas Pipeline as strategic projects expected to connect Nigeria’s gas resources to markets across Africa and Europe.
According to her, the completion of major gas infrastructure projects would help unlock additional supply, strengthen regional energy security and position Nigeria as a major gas supplier.
She, however, acknowledged that competition for investment had intensified globally, stressing that investors were increasingly concerned about project execution risks, operating costs, delays and regulatory uncertainty.
She said the commission was addressing these challenges to create a more predictable business environment and encourage investors to commit capital to the development of Nigeria’s hydrocarbon resources.
The 2026 licensing round forms part of the Federal Government’s broader efforts to increase exploration activities, boost crude oil and gas production, strengthen energy security and generate more revenue from the petroleum industry.
The exercise is expected to provide investors with access to new oil and gas acreage as Nigeria seeks to maximise its substantial hydrocarbon resources and improve its competitiveness in the global energy market.
