The blocks, covering land, shallow water and deepwater terrains, are open to investors with the technical competence, financial capacity and commitment to develop Nigeria’s petroleum resources.

NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, announced the licensing round at the Commission’s fifth anniversary celebration in Abuja, saying it followed the approval of President Bola Ahmed Tinubu and the Minister of Petroleum Resources.

“Ladies and gentlemen, the wait is over. It is with great joy that I announce that pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigerian 2026 Licensing Round is hereby announced.

“This round offers 40 blocks across land, shallow water and deepwater terrains. I can see my IOC is already permutating. They are open to investors with the technical competence, financial capability and, above all, the commitment to develop Nigeria’s petroleum resources,” Eyesan said.

She said the exercise would feature enhanced transparency, including mandatory disclosure of the beneficial owners of every bidder and fuller publication of the evaluation methodology and results.