Nigeria isn't pausing for breath on oil, just as the 2025 bids head for their commercial close, the regulator is already lining up the next round.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the 2026 Licensing Round will kick off by the third quarter of 2026. It's got the green light from President Bola Tinubu, in his role as Minister of Petroleum Resources, and it's all being done under the Petroleum Industry Act (PIA).

Commission Chief Executive, Oritsemeyiwa Eyesan, shared the update on Wednesday in Abuja when Meren Energy, formerly Africa Oil, visited the NUPRC headquarters.

She's pretty pleased with how the 2025 round has shaped up so far. The commercial bid stage is set for July, and once that's wrapped, the team moves straight into finalising the 2026 launch. Her words: “we are in the process of finalising the 2026 launch, which will happen latest by the third quarter”.

Why the hurry? Eyesan points to two signals, more money coming in, and production ticking up. She reckons that's proof Nigeria's upstream sector is looking attractive again under Tinubu's reforms.

Meren Energy's Group CEO, Dr Oliver Quinn, basically agreed. He said the reforms have given them confidence to up their spend, especially around asset divestments and future licence rounds.

Quinn was clear on priorities: Africa first, Nigeria at number one. The company has already put about $11bn into the Agbami, Akpo and Egina fields over the past 20 years, and says it's paid over $4bn in taxes and royalties in that time. Recent briefings also note Meren is backing the next round with fresh investment interest.

So, in short:

2025 bids → commercial phase in July

2026 round → starts Q3 2026, presidential approval secured

Investor mood → cautiously bullish, with Meren waving the $11bn flag

— reporting via cbinewstv

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