Nigeria’s upstream oil regulator has announced plans to launch the 2026 Licensing Round in the third quarter of the year, signaling continued efforts to attract investment and expand opportunities in the nation’s petroleum sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed that the exercise would commence following the approval of the Minister of Petroleum Resources, in accordance with provisions of the Petroleum Industry Act (PIA).
The announcement was made by the Commission’s Chief Executive, Oritsemeyiwa Eyesan, during a courtesy visit by officials of Meren Energy to the NUPRC headquarters in Abuja on Wednesday.
Speaking during the meeting, Eyesan expressed satisfaction with the progress recorded in the ongoing 2025 Licensing Round, describing the process as encouraging and reflective of growing confidence in Nigeria’s oil and gas industry.
According to her, the commercial bidding stage of the 2025 exercise is scheduled to hold in July. She explained that once that phase is completed, preparations for the next licensing round will immediately begin.
“The 2026 Licensing Round will commence in Q3 2026 following ministerial approval and in line with the provisions of the Petroleum Industry Act,” she stated.
Eyesan also noted that increasing investment commitments and improvements in production levels demonstrate renewed investor confidence in the country’s energy sector.
She attributed the positive trend to ongoing reforms and policy initiatives being implemented under the administration of President Bola Tinubu, stressing that Nigeria has become a more attractive destination for energy investments.
The NUPRC chief maintained that the industry is witnessing growing interest from both existing operators and prospective investors seeking opportunities across the upstream value chain.
During the visit, executives of Meren Energy reaffirmed their commitment to Nigeria’s petroleum industry and highlighted the country’s strategic importance within the company’s African investment portfolio.
In his remarks, the Group Chief Executive Officer of Meren Energy, Dr. Oliver Quinn, said recent reforms in the sector have strengthened investor confidence and encouraged the company to explore additional opportunities in Nigeria.
According to Quinn, the improving business environment has influenced Meren Energy’s decision to pursue interests in asset divestments as well as future licensing exercises.
“The current reforms have inspired us to increase our investments in Nigeria,” Quinn said, adding that the company remains optimistic about the long-term prospects of the country’s energy industry.
He revealed that Africa remained the company’s primary investment destination, with Nigeria occupying the top position among its preferred markets on the continent.
Quinn disclosed that over the past two decades, Meren Energy has invested approximately $11 billion in major Nigerian oil projects, including the Agbami, Akpo and Egina fields.
He further stated that the company has contributed more than $4 billion in taxes and royalties to the Nigerian government during the same period, underscoring its long-standing presence and commitment to the country’s oil and gas sector.
Industry observers believe the planned 2026 Licensing Round could further boost exploration activities, attract fresh capital inflows and strengthen Nigeria’s position as one of Africa’s leading energy producers.
With the commercial bidding phase of the 2025 round approaching, attention is now turning to the next licensing exercise, which regulators hope would sustain the momentum of investment growth and production expansion across the country’s upstream petroleum industry.
