The Federal Government has launched the 2026 oil and gas licensing round, placing 40 blocks across land, shallow, and deepwater terrains up for competitive bidding. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the initiative, which has received presidential approval, aims to attract global capital into the nation’s upstream sector. The regulator emphasized a focus on transparency, requiring all bidders to disclose beneficial ownership, and pledging to publish full evaluation results. This follows the 2025 round, which saw 31 companies successfully bid for 37 blocks.