Nigeria announces 2026 upstream licensing round offering 40 blocks

On 6–7 October 2026 Nigeria’s NUPRC, with presidential and ministerial approval, announced the 2026 upstream licensing round offering 40 blocks across onshore, shallow-water and deepwater terrain to investors meeting technical and financial criteria. Details and bidding guidelines will be published on the regulator’s portal.

If awards progress to validated licences and are followed by rapid capex and development, the round could raise exportable crude and gas volumes over the medium term and help relieve external receipts pressures. However, near-term sovereign funding and debt-service dynamics will not change until bidders meet conditions, finance projects and projects convert into production and exports.

Publication of full block list, bidding guidelines and licensing timetable on the NUPRC licensing portal.