Nigeria is set to offer 40 oil and gas blocs to investors as the Federal Government intensifies efforts to attract fresh capital into the upstream petroleum sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said its 2026 licensing round bidding portal would officially open on November 20, urging international investors to take advantage of what it described as a more secure and competitive investment environment.
The Commission Chief Executive, Oritsemeyiwa Eyesan, disclosed this on Monday during a roundtable discussion at the 2026 Abu Dhabi International Petroleum Exhibition and Conference in Abu Dhabi.
Eyesan said Nigeria was positioning itself to attract global investment amid rising energy tensions and growing competition among countries for limited capital.
In a statement issued by the commission’s Head of Media and Corporate Communications, Eniola Akinkuotu, Eyesan said the country had introduced attractive fiscal incentives and improved security to encourage investors.
“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.
She added, “We have set a very attractive fiscal framework for investors. The entire environment is a lot more secure. We have been able to manage costs with a lot of incentives for investors and we expect to see investors take up the offer when we open the portal.”
The 2026 licensing round is part of the Federal Government’s efforts to boost exploration, attract fresh investments and increase crude oil and gas production.
Nigeria’s oil industry has faced persistent investment challenges, including regulatory uncertainty, insecurity, crude oil theft, pipeline vandalism, high operating costs and delays in project approvals.
Eyesan attributed improvements in the investment climate to the Petroleum Industry Act (PIA), signed into law in 2021, and executive orders introduced by President Bola Tinubu to address bottlenecks in the sector.
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She said the reforms had strengthened the regulatory environment and improved Nigeria’s competitiveness in attracting capital.
According to her, the NUPRC conducted at least four successful licensing rounds between 2021 and 2026, representing a shift from the period before the PIA, when licensing rounds were less frequent.
The commission chief executive also highlighted Nigeria’s gas reserves as a major investment opportunity, particularly as the country seeks to expand domestic supply and develop export infrastructure.
She disclosed that Nigeria had approximately 215 trillion cubic feet of gas reserves, while daily production remained below seven billion cubic feet.
Eyesan said the gap between the country’s gas reserves and actual production presented opportunities for investors.
She added that the completion of major gas infrastructure projects would help unlock supply and expand the country’s capacity to serve domestic and regional markets.
“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.
Eyesan also identified the proposed Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline as major projects that could facilitate gas exports to Europe and meet regional demand.
She said Nigeria was positioning itself to supply gas beyond its domestic market.
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