The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed the 2026 Oil Licensing Round will begin in the third quarter of 2026, following approval by President Bola Tinubu. NUPRC Chief Executive Mrs. Oritsemeyiwa Eyesan disclosed this during a meeting with Meren Energy (formerly Africa Oil) at the commission's Abuja headquarters. She said the commercial bid for the 2025 Licensing Round would take place in July, with the 2026 round to follow. Eyesan described the increased investor interest in the 2025 round as proof that Nigeria's oil and gas sector, under Tinubu's leadership, was regaining its appeal.
Eyesan stated the 2026 round was approved by both the President and the Minister of Petroleum Resources. "We are in the process of finalising the 2026 launch, which will happen by the third quarter at the latest. So, this is the make-or-break point, and we want to make sure we make it," she said. Meren Energy's Group CEO, Dr. Oliver Quinn, said ongoing reforms had encouraged the company to deepen investments in Nigeria, its top African priority. Quinn noted the firm has invested about $11 billion in Nigerian assets over 20 years, with $4 billion paid in taxes and royalties.
Quinn confirmed Meren Energy was the first company to sell crude to the Dangote refinery and remains committed to fulfilling its Domestic Crude Supply Obligation (DCSO) as long as pricing is favourable. He said the company was urging its partners to increase production on shared assets. Meanwhile, operations at NUPRC have resumed after a one-day industrial action by PENGASSAN and NUPENG was suspended on the night of June 1, 2026. The commission clarified that only administrative functions were briefly affected, while regulatory oversight continued nationwide. A statement by Eniola Akinkuotu, Head of Media and Corporate Communications, said the strike did not disrupt crude oil production and refuted claims linking the dispute to foreign training opportunities.
|||NAJABUZZ_TAKE||| Mrs. Oritsemeyiwa Eyesan announced the 2026 licensing round while calling it a "make-or-break point," even though the President and Minister have already approved it. The urgency in her statement contrasts with the confirmed timeline set for Q3 2026. If the round is already approved and scheduled, the language of crisis appears performative. Workers' strike was resolved without public details, leaving the public to wonder what concessions, if any, were granted behind closed doors.
While the NUPRC hails growing investor interest as a sign of sector revival, many Nigerians still grapple with fuel scarcity and unreliable power—raising the irony that oil wealth continues to attract foreign bids while locals see little benefit. The government plans licensing rounds for 2025 and 2026, yet fails to explain how these will translate into jobs, energy access, or economic relief for citizens. If oil is booming, why does everyday life for most Nigerians remain an uphill struggle?
💡 NaijaBuzz Take is AI-assisted editorial opinion, not established fact. Full disclaimer →
