FAVOUR ISHEMBER, Abuja
Nigeria’s oil and gas sector is now drawing serious investor interest under President Bola Tinubu, and rising output plus fresh capital inflows prove it.
The Nigerian Upstream Petroleum Regulatory Commission confirmed the 2026 Licensing Round will kick off no later than Q3 2026. That timeline follows approval from the Minister of Petroleum Resources, as required under the Petroleum Industry Act.
Commission Chief Executive Mrs. Oritsemeyiwa Eyesan made this known on Wednesday, June 3, 2026, during a visit by Meren Energy – formerly Africa Oil – to the NUPRC headquarters in Abuja.
Eyesan said she’s pleased with how the 2025 Licensing Round has played out so far. Commercial bidding for that round is set for July, after which preparations for the next round will begin immediately.
She called the strong turnout for the 2025 round proof that Nigeria is moving in the right direction. “We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round,” she said.
“So, 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.”
Meren Energy’s Group CEO, Dr. Oliver Quinn, said the government’s current reforms pushed the company to double down on Nigeria. That’s why Meren is eyeing asset divestments and new licences.
Quinn noted Africa is Meren’s top investment focus, with Nigeria ranked first. “We have operated in Agbami, Akpo and Egina world-class fields. I think till date, in 20 years, about $11bn in capital from our side has gone into these assets and about $4bn has gone to tax and royalties,” he said.
“Nigeria remains the core of our business today because of the quality of these assets.”
Quinn added that Meren is urging its partners on those fields to commit more capital and boost overall production. He also pointed out that Meren was the first firm in Nigeria to supply crude to Dangote refinery, and will keep meeting its Domestic Crude Supply Obligation as long as pricing is fair.
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