Nigeria has launched its 2026 oil and gas licensing round, opening commercial bidding for 50 exploration blocks as Africa’s largest oil producer seeks to attract more than $10 billion in new investment and expand production.

The round, managed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), includes 15 onshore blocks, 19 shallow-water blocks, 15 frontier blocks and one deepwater asset.

The regulator said the initiative aims to boost exploration, increase reserves and strengthen long-term energy output.

Gbenga Komolafe, NUPRC Chief Executive, said the licensing round could unlock an estimated two billion barrels of additional oil reserves while supporting efforts to raise crude production.

Conducted under the Petroleum Industry Act, the process will use a fully digital bidding platform designed to improve transparency and attract domestic and international investors.

Applicants will undergo technical, financial and regulatory assessments before submitting bids.

The move forms part of Nigeria’s wider efforts to revive upstream investment, address years of underinvestment and strengthen export revenues as competition for global oil and gas capital increases. -OGN/TradeArabia News Service