Nigeria announces 2026 oil licensing round
Analysis based on 6 articles · First reported Jun 03, 2026 · Last updated Jun 04, 2026
The announcement of the 2026 oil licensing round by the Nigeria — Nigerian Upstream Petroleum Regulatory Commission>>> is expected to attract further foreign direct investment into Nigeria>>>'s upstream oil and gas sector. This could lead to increased oil production and revenue for Nigeria>>>, positively impacting its economy and potentially the stock performance of companies like OVO Energy>>> that participate in these rounds.
The Nigeria — Nigerian Upstream Petroleum Regulatory Commission>>> (NUPRC) announced that Nigeria>>>'s 2026 oil and gas licensing round will commence by the third quarter of 2026. This decision, approved by President Bola Tinubu>>> and the Minister of Petroleum Resources, follows the provisions of the Petroleum Industry Act (PIA) and aims to sustain investor interest in the upstream sector. Oritsemeyiwa Eyesan>>>, the NUPRC Chief Executive, highlighted that preparations are underway and that strong participation in the ongoing 2025 licensing round reflects growing investor confidence due to recent reforms. OVO Energy>>>, led by Group CEO Oliver Quinn>>>, affirmed its commitment to deepening investments in Nigeria>>>'s oil and gas sector, citing the country as its top African investment destination and noting its significant investments in major assets like Agbami, Akpo, and Egina fields. OVO Energy>>> also confirmed its role as the first company to supply crude oil to the Dangote Petroleum Refinery>>>.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard