The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) has introduced the 2026 Licensing Spherical, providing 40 oil and gasoline blocks to traders.
The NUPRC Leader Government, Oritsemeyiwa Eyesan, introduced the licensing spherical on the fee’s 5th anniversary rite in Abuja on Tuesday.
The development used to be themed, “From Uncertainty to Steadiness: Unlocking the Subsequent Section of Funding.”
In a commentary issued on Wednesday, the fee quoted Mrs Eyesan as pronouncing the licensing spherical used to be introduced following the approval of President Bola Tinubu, who could also be the Minister of Petroleum Assets.
“It’s with nice pleasure that I announce that, pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Leader of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Assets, the Nigeria 2026 Licensing Spherical is hereby officially introduced,” she stated.
In step with her, the 2026 spherical provides 40 blocks throughout land, shallow water and deep water terrains.
She stated the blocks are open to traders with the technical competence, monetary capability and dedication required to broaden Nigeria’s petroleum sources.
Mrs Eyesan stated, in keeping with suggestions by means of the Nigeria Extractive Industries Transparency Initiative (NEITI), the ideas for the 2026 licensing spherical would supply main points of the analysis technique, be sure that fuller newsletter of effects and require the disclosure of the really useful house owners of all bidders.
She stated the fee would, within the coming days, post main points of the blocks on be offering, qualification necessities and procedures for participation on its web site and devoted licensing spherical portal.
“So, I invite certified Nigerian and global traders to return and compete. Deliver your highest concepts, your highest companions and your highest bids. Would possibly the most productive bids win,” she stated.
2025 licensing spherical
The announcement of the brand new licensing spherical comes not up to 3 months after the fee concluded its 2025 licensing spherical bidding programme.
PREMIUM TIMES reported that 31 corporations emerged winners of 37 oil and gasoline blocks in Nigeria’s 2025 Licensing Spherical following the realization of the industrial bid convention held in Abuja in July.
The bidding procedure, held on the Transcorp Match Centre, attracted 143 corporations, which submitted about 200 bids for 37 of the 50 oil and gasoline blocks presented by means of the NUPRC.
The blocks span more than one terrains, together with the Niger Delta onshore, shallow water and deep offshore spaces, in addition to the Benin, Anambra and Chad basins and the Benue Trough.
Whilst 37 blocks gained bids, the rest 13 attracted no provides.
The NUPRC described the result as important, noting that it used to be the primary time Nigeria’s frontier basins, together with the Benue Trough, Chad Basin, Anambra Basin and Benin Basin, had attracted such sturdy investor hobby.
Manufacturing goal
Talking at the fee’s plans to extend oil manufacturing, Mrs Eyesan stated the NUPRC would make licensing extra common and predictable whilst specializing in measures that would straight away building up output.
“Our licensing might be common and predictable. Our focal point might be on what strikes the numbers: restoring the greater than 788,000 barrels in keeping with day of shut-in manufacturing recognized throughout 63 operators; taking offshore initiatives valued at an estimated $30 billion to $50 billion to ultimate funding determination; and elevating home gasoline supply from about two-thirds of the home legal responsibility to complete supply,” she stated.
She additionally stated the upstream petroleum sector had gone through important adjustments over the last 5 years, pushed by means of the transparency and predictability offered by means of the Petroleum Trade Act (PIA) and govt orders issued by means of President Tinubu.
On the anniversary match, the NUPRC honoured former administrators of the defunct Division of Petroleum Assets (DPR), in addition to pioneer leaders of the fee.
The fee additionally honoured former leaders of the Nationwide Meeting who performed key roles within the passage of the PIA, together with former Senate President Ahmad Lawan and previous Speaker of the Space of Representatives, Femi Gbajabiamila.
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The NUPRC unveiled a unique version of its in-house mag, The Upstream Gaze, and a documentary chronicling the fee’s five-year adventure.
President Tinubu used to be represented on the match by means of Vice President Kashim Shettima, whilst Nigeria’s OPEC Governor, Ademola Adeyemi-Bero, delivered the anniversary lecture.
Others in attendance incorporated the Chairman of the Senate Committee on Fuel, Agom Jarigbe; Minister of State for Petroleum Assets (Oil), Heineken Lokpobiri; Chairman of the NUPRC Board, Magnus Abe; Crew Leader Government Officer of the Nigerian Nationwide Petroleum Corporate Restricted, Bayo Ojulari; heads of presidency businesses and captains of trade.
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