The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open a fresh oil licensing round by early October 2026, offering 13 blocks that drew no bids in the previous auction and were returned to the state’s portfolio. Commission Chief Executive Mrs. Oritsemeyiwa Eyesan disclosed the timeline as part of a broader push to stabilize and grow Nigeria’s crude output while drawing new capital into the upstream sector.
The October round is expected to feature acreage in deep-water and shallow-water belts, with the possibility of including frontier onshore basins. Alongside the licensing drive, NUPRC is targeting $30–$50 billion in fresh investment across 22 deep-water projects by 2030, supported by recent fiscal incentives and a more predictable regulatory cycle.
Eyesan indicated that assets awarded in recent rounds could lift national output by roughly 300,000 barrels per day within their first three years, with later rounds potentially adding another 300,000–600,000 bpd as more projects reach production.
While international majors remain welcome, the regulator says the next round is not primarily aimed at them, reflecting the rise of capable local firms such as Renaissance and First E&P after several IOCs pared back onshore and shallow-water operations. NUPRC also signaled it could institutionalize annual, or even biannual licensing windows, with each cycle designed to conclude within six to seven months to keep momentum in the sector.
Since the Petroleum Industry Act took effect, the pace and scale of offerings have accelerated: from seven blocks in the 2022/23 mini-round to 19 in 2024 and 50 in 2025, setting the stage for the October exercise as another test of Nigeria’s ability to attract investment, nurture new operators and rebuild its position among Africa’s top crude producers.
