NUPRC Woos Investors With 40 Blocks, Says Nigeria Is Stable

The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, has told investors that Nigeria offers a stable climate amid the global energy tension.

Eyesan urged investors to look towards Nigeria and take advantage of the 2026 Licensing Round, which has 40 oil and gas blocks on offer. She disclosed that the licensing round portal will officially open on November 20, 2026.

The NUPRC boss said this on Monday, November 2, 2026, during a roundtable discussion titled, “Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security,” at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi.

She said the Commission expects investors to turn to Nigeria.

“We are expecting investors to turn to Nigeria. We are going in for another licensing round and we will be launching our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive,” she said.

A stable and secure environment

According to Eyesan, the Commission has set an attractive fiscal framework for investors, while the overall environment is more secure.

“We have set a very attractive fiscal framework for investors. The entire environment is a lot more secure. We have been able to manage costs with a lot of incentives for investors and we expect to see investors take up the offer when we open the portal,” she said.

She noted that Nigeria’s investment climate has improved since the passing of the Petroleum Industry Act (PIA) in 2021, as well as the executive orders signed by President Bola Tinubu.

Eyesan stated that between 2021 and 2026, the NUPRC held at least four successful licensing rounds, which brought more investments into the country.

This is a departure from the pre-PIA era, when licensing rounds were not frequent.

Guarding against investor concerns

The NUPRC boss maintained that the race for investments has become more competitive, as many countries are discovering petroleum resources.

She said Nigeria was already ahead of the game, having made certain modifications to attract the right capital.

“We understand that investors will prize execution risk, cost, delays and also uncertainty and so what we have done in Nigeria is to ensure that we guard against these risks and then attract the investment required to enable us unlock the huge resources we sit on,” she said.

Gas opportunity

Eyesan said Nigeria possesses huge energy potential, as it sits on 215 trillion cubic feet (TCF) of gas, but daily production is barely 7 billion cubic feet (bcf).

She said this presents an opportunity for investors, especially as key gas infrastructure is in the pipeline.

“The stars are already aligned. For gas infrastructure we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region,” she said.

She added that two major projects are on the drawing board to move gas through the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline.

“Again, this gas will go somewhere in Europe and will also meet regional demands. So, Nigeria is positioned to meet not just domestic supply,” the CCE stated.