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From Adanna Nnamani, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 licensing round will commence no later than the third quarter of 2026, following approval from the Minister of Petroleum Resources in line with the provisions of the Petroleum Industry Act (PIA).
According to a statement from the NUPRC, the Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this on Wednesday during a visit by the management of Meren Energy, formerly Africa Oil, to the NUPRC headquarters in Abuja.
Speaking at the meeting, Eyesan said preparations for the next licensing round were already underway, even as the commission moved towards the commercial bid stage of the ongoing 2025 licensing round.
“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round. So, we are in the process of finalising the 2026 launch which will happen latest by the third quarter. So, this is the make or break point and we want to make sure we make it,” Eyesan said.
She noted that the commercial bid phase of the 2025 licensing round would take place in July, after which attention would shift to the 2026 exercise.
According to her, the strong level of participation recorded in the current licensing round demonstrated growing investor confidence in Nigeria’s oil and gas industry.
Eyesan attributed the renewed interest in the sector to ongoing reforms and improved regulatory certainty, adding that increased investments and rising crude oil production were indicators that the industry was becoming more attractive to investors.
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“The heightened participation in the 2025 Licensing Round is a testament to the fact that Nigeria is headed in the right direction,” she said.
Also speaking, the Group Chief Executive Officer of Meren Energy, Dr Oliver Quinn, said recent reforms in the nation’s oil and gas sector had encouraged the company to consider expanding its investments in the country.
Quinn said Nigeria remained the company’s top investment destination in Africa, citing the quality of assets in which the firm had interests, including the Agbami, Akpo, and Egina fields.
“We have operated in Agbami, Akpo and Egina world-class fields. To date, in 20 years, about $11 billion in capital from our side has gone into these assets, and about $4 billion has gone to tax and royalties.
“Nigeria remains the core of our business today because of the quality of these assets.” The Meren Energy chief added that the company was engaging its partners to increase investment in existing assets and boost production levels.
He also disclosed that Meren Energy was the first company in Nigeria to supply crude oil to the Dangote Refinery and reaffirmed its commitment to meeting its Domestic Crude Supply Obligation, provided commercial terms remained favourable.
The planned 2026 licensing round was expected to build on the momentum generated by the ongoing 2025 exercise as the government sought to attract new investments and expand exploration and production activities in the upstream petroleum sector.
