The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has scheduled the 2026 Licensing Round for the third quarter of 2026. NUPRC chief executive Oritsemeyiwa Eyesan announced the timeline during a meeting with Meren Energy management at the commission's Abuja office on Wednesday. The round has received formal approval from the minister of Petroleum Resources and aligns with the Petroleum Industry Act (PIA). Eyesan said the 2025 Licensing Round's commercial bid phase will launch in July, creating momentum for the 2026 cycle.
Eyesan described the 2026 round as a "make-or-break point" and stressed the need for success. He credited President Bola Tinubu's policy direction for renewed global investor interest in Nigeria's oil and gas sector. According to Eyesan, increased investments and rising local production indicate the sector has regained competitiveness. The NUPRC is finalising plans for the Q3 launch, aiming to capitalise on current market confidence.
Meren Energy Group CEO Dr Oliver Quinn praised ongoing regulatory reforms, saying they have strengthened the company's commitment to Nigeria. Meren Energy, which operates in the Agbami, Akpo and Egina fields, has invested about $11bn in Nigerian assets over 20 years and paid $4bn in taxes and royalties. Quinn confirmed the company was the first to supply crude oil to the Dangote refinery.
He reiterated Meren Energy's dedication to meeting its Domestic Crude Supply Obligation, contingent on market-reflective pricing. The company views Nigeria as its top investment destination in Africa. Quinn urged partners to deepen their investments to boost national oil production.
Oritsemeyiwa Eyesan calls the 2026 licensing round a "make-or-break point" while announcing it a full year in advance, exposing a gap between urgency and timeline. If the round is truly decisive for Nigeria's oil future, delaying it until Q3 2026 risks diluting momentum from the 2025 cycle. Investors like Meren Energy are acting now, signing deals and supplying refineries, while the commission plans a launch over 15 months away. Nigerians expecting faster results from the sector's revival may find the pace of implementation at odds with the rhetoric of urgency.
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