The Nigerian Upstream Petroleum Regulatory Commission has urged international oil and gas investors to consider Nigeria as a preferred investment destination amid growing global energy tensions and increasing competition for capital.

The commission said Nigeria is offering a more stable and competitive investment climate backed by improved security, attractive fiscal incentives and regulatory reforms, as it prepares to offer 40 oil and gas blocks across onshore, shallow-water and deepwater terrains in its 2026 licensing round.

The Commission Chief Executive, Oritsemeyiwa Eyesan, made the call during a roundtable discussion titled ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security,’ at the 2026 Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC, in Abu Dhabi on Monday.

In a statement by the Head of Media and Corporate Communications, Eniola Akinkuotu, Eyesan said Nigeria is positioning itself to attract investment at a time when countries are competing aggressively for limited global capital and therefore urged investors to take advantage of the 2026 Licensing Round which has 40 oil and gas blocks on offer.

She disclosed that the bidding portal for the licensing round will officially open on November 20, 2026, stating, “We are expecting investors to turn to Nigeria. We are going in for another licensing round, and we will be launching our bid portal on November 20. We have set a very attractive fiscal framework for investors. The entire environment is a lot more secure.”

The 2026 licensing round, which received approval from President Bola Tinubu who also serves as Minister of Petroleum Resources, represents another attempt by the Federal Government to attract fresh capital into the upstream petroleum sector, increase exploration activities and boost crude oil and gas production, following previous rounds that have resulted in the award of 57 Petroleum Prospecting Licences.

Eyesan added that the exercise will incorporate transparency measures recommended by the Nigeria Extractive Industries Transparency Initiative, NEITI, including disclosure of beneficial owners of every bidder and full publication of evaluation methodology and results, with assets from previous rounds expected to add about 500 million barrels to reserves and at least 300,000 barrels per day to support Nigeria’s target of three million barrels per day by 2030.