By| Goodluck E.Adubazi, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 Licensing Round will commence no later than the third quarter of 2026 following approval by the Minister of Petroleum Resources, signaling continued momentum in Nigeria’s drive to attract investment into the oil and gas sector.
The announcement was made on Wednesday in Abuja by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, during a courtesy visit by Meren Energy (formerly Africa Oil) to the Commission’s corporate headquarters.
Eyesan expressed satisfaction with the progress recorded in the ongoing 2025 Licensing Round, noting that the commercial bidding phase is scheduled for July 2026. She disclosed that preparations for the next licensing round were already underway.
“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round,” Eyesan said. “We are in the process of finalising the 2026 launch, which will happen latest by the third quarter. This is the make-or-break point, and we want to make sure we get it right.”
According to the NUPRC chief, the strong investor participation recorded in the 2025 Licensing Round reflects growing confidence in Nigeria’s petroleum industry and underscores the impact of ongoing reforms.
She attributed the renewed investor interest, rising capital inflows, and improving production levels to policy measures implemented under the administration of President Bola Tinubu, describing them as indicators that Nigeria has become an increasingly attractive destination for oil and gas investments.
In a strong vote of confidence for the sector, Meren Energy Group Chief Executive Officer, Dr. Oliver Quinn, announced plans by the company to deepen its investments in Nigeria, citing the country as its top investment destination in Africa.
Quinn said the company’s renewed interest was driven by reforms introduced in the sector, adding that Meren Energy intends to participate actively in both asset divestment opportunities and future licensing rounds.
“Our investment priority is Africa, and Nigeria ranks number one,” Quinn said.
He highlighted the company’s long-standing presence in Nigeria’s offshore sector, noting that Meren Energy has operated in the Agbami, Akpo, and Egina fields and has invested approximately $11 billion in the assets over the past two decades.
“About $4 billion has also gone to taxes and royalties,” he stated. “Nigeria remains the core of our business today because of the quality of these assets.”
Quinn further disclosed that the company is engaging its partners to increase capital commitments to existing assets in a bid to boost production levels across its Nigerian operations.
He also revealed that Meren Energy was the first company to supply crude oil to the Dangote Refinery and reaffirmed its commitment to meeting its Domestic Crude Supply Obligation, provided market conditions remain commercially viable.
The planned launch of the 2026 Licensing Round is expected to build on the momentum of the current exercise and further strengthen Nigeria’s efforts to attract new investments, expand production, and enhance the competitiveness of its upstream petroleum industry.
L-R: CEO, Meren Energy, Nigeria, Emeka Phil-Ebosie; President/Group CEO, Meren Energy, Dr. Oliver Quinn; Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan; and Chief Financial Officer, Meren Energy, Aldo Perracini when the management of Meren Energy visited the headquarters of the NUPRC in Abuja on Wednesday, June 3, 2026. Photo: NUPRC Media
