By Uche Amunike
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is seeking to attract international investors into the country’s oil and gas industry by offering 40 oil and gas blocks in its 2026 licensing round, as Nigeria intensifies efforts to strengthen its position in the global energy market.
The commission said Nigeria was becoming a more attractive investment destination, supported by improved security, favourable fiscal incentives and regulatory reforms designed to reduce operational challenges and encourage fresh capital inflows.
The Commission Chief Executive, Oritsemeyiwa Eyesan, made the appeal during a roundtable discussion titled, ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’, at the 2026 Abu Dhabi International Petroleum Exhibition and Conference in Abu Dhabi on Monday.
According to a statement issued by the NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, Eyesan urged international investors to take advantage of the opportunities available in Nigeria’s forthcoming licensing exercise.
She disclosed that the bidding portal for the 2026 licensing round would officially open on November 20, 2026, providing prospective investors with an opportunity to acquire interests in the 40 available oil and gas blocks.
According to Eyesan,Nigeria had introduced an attractive fiscal framework and improved security conditions to make investments in the country’s upstream petroleum sector more competitive.
She expressed confidence that the measures would encourage investors to consider Nigeria, particularly at a time when countries are competing for limited international investment capital.
The Nigerian Upstream Petroleum Regulatory Commission CEO also explained that the government had introduced several measures to address the concerns that previously discouraged investors from committing resources to the country’s petroleum industry.
Nigeria’s oil and gas sector has faced persistent investment challenges, including crude oil theft, pipeline vandalism, insecurity, high operating costs, regulatory uncertainty and delays in project approvals.
However, Eyesan identified the Petroleum Industry Act (PIA), signed into law in 2021, alongside executive orders introduced by President Bola Tinubu, as significant developments that have improved the industry’s operating environment.
She said the reforms had strengthened regulatory processes, reduced bottlenecks and created a more predictable environment for petroleum investments.
She further disclosed that the commission had conducted at least four successful licensing rounds between 2021 and 2026, representing progress compared with previous years when such exercises were less frequent.
Beyond crude oil exploration, she highlighted Nigeria’s extensive natural gas reserves as another major investment opportunity, particularly as the government pursues increased domestic gas supply and the development of export infrastructure.
She noted that investors were becoming increasingly cautious about committing funds to projects with significant execution risks, excessive costs, prolonged delays and uncertain regulatory conditions.
According to her, Nigeria was addressing these concerns to improve investor confidence and unlock the country’s enormous hydrocarbon resources.
The commission maintained that the 2026 licensing round would provide opportunities for international and local investors to participate in the exploration and development of new petroleum assets.
The exercise is also expected to support the Federal Government’s broader objectives of increasing crude oil and gas production, strengthening national energy security and generating additional revenue.
With the November 20 portal opening approaching, the Nigerian Upstream Petroleum Regulatory Commission is counting on its latest reforms and investment incentives to attract global interest and secure fresh capital for Nigeria’s upstream petroleum industry.
