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 was offering a more stable and competitive investment environment, backed by improved security, attractive fiscal incentives and regulatory reforms, as it prepares to offer 40 oil and gas blocks in its 2026 licensing round.

The Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, 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 in Abu Dhabi on Monday.

In a statement issued by the Head of Media and Corporate Communications of the NUPRC, Eniola Akinkuotu, Eyesan said Nigeria was positioning itself to attract investment at a time when countries were competing aggressively for limited global capital.

The statement read, “The Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, has told investors that Nigeria offers a stable climate amid the global energy tension and therefore urged investors to look towards Nigeria by taking advantage of the 2026 Licensing Round which has 40 oil and gas blocks on offer. She also disclosed that the licensing round portal will officially open on November 20, 2026.”

She disclosed that the bidding portal for the licensing round would officially open on 20 November, 2026, urging investors to take advantage of the opportunities.

She said, “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 expect to see interested investors because the environment is a lot more competitive.

“We have set a very attractive fiscal framework for investors. The entire environment is a lot more secure. We have been able to manage costs with a lot of incentives for investors and we expect to see investors take up the offer when we open the portal.”

The 2026 licensing round 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.

Nigeria had struggled to attract sufficient investment into its oil industry over the years due to regulatory uncertainty, insecurity, crude oil theft, pipeline vandalism, high operating costs and delays in project approvals.

However, Eyesan attributed the improvement in the country’s investment climate to the Petroleum Industry Act, signed into law in 2021, and executive orders introduced by President Bola Tinubu to address bottlenecks in the petroleum industry.

She said the reforms had helped improve the regulatory environment and positioned Nigeria to compete more effectively for investments.

According to her, the NUPRC has conducted at least four successful licensing rounds between 2021 and 2026, marking a departure from the period before the PIA, when licensing rounds were less frequent.

The commission chief executive said Nigeria’s vast gas reserves also presented significant investment opportunities, particularly as the country seeks to expand domestic supply and develop export infrastructure.

She disclosed that Nigeria had about 215 trillion cubic feet of gas reserves, while daily production remained below seven billion cubic feet, highlighting the gap between the country’s resource potential and actual output.

Eyesan said the completion of major gas infrastructure projects would help unlock supply and create opportunities for investors seeking to participate in the development of the country’s gas industry.

“The stars are already aligned. For gas infrastructure we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region.

“We talk about two major projects on the drawing board to move gas through the Nigeria-Morocco Atlantic Gas Pipeline and Trans-Sahara Gas Pipeline. Again, this gas will go somewhere in Europe and will also meet regional demands. So, Nigeria is positioned to meet not just domestic supply,” she stated. (The PUNCH)