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NUPRC announces 2026 licensing round

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 oil and gas licensing round will commence by the third quarter of 2026, following approval from the Minister of Petroleum Resources.

The commission disclosed this in a statement issued on Wednesday after a visit by Meren Energy, formerly Africa Oil, to its headquarters in Abuja.

According to the statement, NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, announced the timeline while receiving the delegation.

“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the 2026 Licensing Round will commence latest by Q3 2026, having received the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act,” the statement said.

Mrs Eyesan expressed satisfaction with the progress of the ongoing 2025 Licensing Round, noting that the commercial bid phase is scheduled for July, after which preparations for the next round would begin.

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A licensing round is a competitive process through which governments allocate oil and gas exploration and production rights to companies.

2025 licensing round

The announcement comes months after the NUPRC, under its former Chief Executive, Gbenga Komolafe, launched the 2025 licensing round, which took effect from 1 December 2025.

At the launch, Mr Komolafe said the commission was focused on addressing funding constraints in the upstream sector by improving collaboration among stakeholders.

“One of the factors that affected business is that activities were happening in silos, but the NUPRC now realises the need to bring everyone together,” he said.

As part of preparations for the 2025 exercise, the commission in January invited global energy investors, upstream operators, financial institutions and strategic partners to a webinar ahead of the bid process.

In March, the NUPRC announced the completion of the pre-qualification stage, enabling successful applicants to access and lease relevant geological and technical data required for technical and commercial bid submissions.

“With the pre-qualification stage now successfully completed, the Commission will, from today, March 17, 2026, permit successful applicants to lease data in preparation for the technical and commercial bid submissions,” the commission said at the time.

The regulator added that applicants would only be allowed to source data from approved channels and must provide evidence of payment before submitting bids.

‘Attractive investment destination’

Speaking on Wednesday, Mrs Eyesan said increased participation in the 2025 licensing round reflects growing confidence in Nigeria’s oil and gas sector.

She attributed this to rising investments, improved production levels and reforms implemented under President Bola Tinubu’s administration.

“We are also fortunate that the President and Minister of Petroleum Resources have approved the 2026 Licensing Round,” she said.

“So, we are in the process of finalising the 2026 launch which will happen latest by the third quarter. So, this is the make-or-break point, and we want to make sure we make it.”

ALSO READ: Nigerian govt inaugurates new NUPRC board members

Also speaking, Meren Energy Group CEO, Oliver Quinn, said reforms in Nigeria’s oil and gas sector have encouraged the company to expand its investments and participate more actively in asset acquisitions and licensing opportunities.

Mr Quinn said Nigeria remains Meren Energy’s top investment destination in Africa.

“We have operated in Agbami, Akpo and Egina world-class fields. I think till date, in 20 years, about $11 billion in capital from our side has gone into these assets, and about $4 billion has gone to tax and royalties,” he said.

“Nigeria remains the core of our business today because of the quality of these assets.”

According to him, the company is encouraging its partners to deepen investments in existing assets to boost production.

Mr Quinn also said Meren Energy was the first company in Nigeria to sell crude oil to the Dangote refinery and would continue to meet its Domestic Crude Supply Obligation, provided commercial terms remain favourable.


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Cement maker Lafarge Africa renamed HBM Nigeria Plc

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Lafarge Africa, acquired by Chinese investors from the Swiss-based Holcim Group last year, has adopted HBM Nigeria Plc as its new name.

According to a regulatory filing sighted on Tuesday, the cement maker’s new name tallies with the company’s long-term goals and its resolve to better serve stakeholders.

“The name change received full shareholder approval at the Annual General Meeting (AGM) held on the 30th of April 2026,” the company stated in the Nigerian Exchange filing.

“The Corporate Affairs Commission (CAC) has officially approved and issued the Certificate of Incorporation reflecting the name change,” it added.

In December 2024, Lafarge Africa disclosed that the Holcim Group had entered into a share purchase agreement with Huaxin Cement, headquartered in Wuhan, China, to acquire an 83.1 per cent stake in the company.

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Until it divested its interest in Lafarge Africa, the Holcim Group held the controlling stake through Caricement BV and Associated International Cement Limited.

Regulatory hurdles, including a Senate directive ordering the Bureau of Public Procurement to halt the transaction last March, meant it was not closed until nine months after it was first made public.

READ ALSO: Champion Breweries appoints new managing director

“We cannot afford to wake up one day and realise that our cement industry, one of the backbones of our economy, is entirely in foreign hands,” said Shuaib Salisu, the senator representing Ogun Central, who raised the motion at the upper legislative body at the time.

The acquisition was valued at $1 billion (approximately ₦1.6 trillion) when the deal closed last August.

The first major expansion project under the new majority owner—a planned capacity increase of the Ashaka Cement plant in Gombe to 2MT and the Shagamu plant to 3.5MT—was announced early this year.

HBM Nigeria assured shareholders in the statement that their current share certificates and electronic holdings remain valid, despite the name change. They will be updated automatically by the registrars, it said.

 


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Mutfwang Hosts Chinese Ambassador, Investors to Boost Plateau Economy

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The Plateau State Government has intensified its strategic partnership with China as part of efforts to attract foreign investment, transform agriculture, and accelerate infrastructure development, positioning the state as a competitive destination for business and industrial growth.

Governor Caleb Manasseh Mutfwang disclosed this on Monday while receiving the Ambassador of the People’s Republic of China to Nigeria, Yu Dunhai, alongside a delegation of Chinese investors and business executives at the Government House in Jos.

The visit is part of the state’s broader strategy to strengthen international partnerships and attract foreign direct investment into critical sectors such as agriculture, mining, healthcare, tourism, infrastructure, and industrial development.

Speaking during the meeting, Governor Mutfwang described the relationship between Plateau State and China as one that has steadily evolved over the years, stressing the importance of expanding cooperation beyond national engagements through direct partnerships with Chinese provinces.

He said his administration is committed to leveraging investment, technology transfer, innovation, and knowledge exchange to unlock the state’s vast economic potential.

Agriculture at the Centre of Partnership

Governor Mutfwang identified agriculture as a key area for collaboration, noting that Plateau State has long been recognized as Nigeria’s food basket and a historic mining hub.

He explained that the government is pursuing an ambitious agricultural modernization agenda focused on mechanization, increased productivity, cold-chain infrastructure, livestock development, and agro-processing.

As part of the initiative, the governor unveiled plans for a 500-hectare Special Agro-Processing Zone near the Yakubu Gowon International Cargo Airport, designed to serve as a major export hub for agricultural products while improving value addition for farmers and agribusinesses.

He also highlighted investment opportunities in poultry, dairy farming, fisheries, and animal feed production, emphasizing the need to reduce Nigeria’s dependence on imported dairy products by building a competitive local livestock industry.

Sustainable Mining and Industrial Growth

On mining, Governor Mutfwang advocated responsible and environmentally sustainable practices that promote local value addition and community development.

He also called for closer collaboration with Chinese authorities in tackling illegal mining activities and ensuring that mineral resources contribute meaningfully to the state’s economic development.

China Reaffirms Commitment

In his remarks, Ambassador Yu described Plateau State as a strategic investment destination due to its abundant natural resources, favorable climate, and enormous agricultural potential.

He commended Governor Mutfwang’s leadership and ongoing reforms in infrastructure, agriculture, education, and governance, assuring the state of continued support from both the Chinese Government and the Chinese Embassy in Nigeria.

The ambassador disclosed that the visiting delegation comprised executives from four internationally recognized Chinese companies with extensive operational experience in Nigeria, expressing confidence that the engagement would unlock new opportunities in transportation, infrastructure, agriculture, and industrial development.

New Export Opportunities

Ambassador Yu highlighted the growing economic ties between China and Nigeria, revealing that bilateral trade between the two countries is valued at several billions of dollars annually, while Chinese direct investment in Nigeria reached approximately $700 million in the previous year.

He also announced that China’s recently introduced 100 percent zero-tariff policy on Nigerian exports presents a significant opportunity for Plateau State’s agricultural products to gain access to one of the world’s largest consumer markets.

Drawing from China’s development experience, Yu noted that agricultural reforms had lifted more than 800 million people out of poverty, pledging China’s support in improving agricultural productivity, expanding processing capacity, strengthening livestock production, and developing agricultural value chains in Plateau State.

Addressing concerns over illegal mining, the ambassador reiterated China’s zero-tolerance policy against unlawful mining activities and assured the state government of cooperation in identifying and prosecuting offenders while encouraging legitimate investors to comply with established regulations.

Both leaders expressed optimism that the renewed engagement would usher in a new era of mutually beneficial cooperation, delivering increased investment, job creation, economic growth, and sustainable development for Plateau State.

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