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NUPRC urges investors on 2026 licensing round

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged investors to take advantage of Nigeria’s 2026 oil and gas licensing round, highlighting the country’s improving investment climate amid growing global energy uncertainties.

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

Ms Eyesan told investors that Nigeria offers a stable investment environment and announced that the licensing round portal would officially open on 20 November 2026.

She urged prospective investors to explore the opportunities presented by the 2026 Licensing Round, which offers 40 oil and gas blocks.

“We are expecting investors to turn to Nigeria. We are going into another licensing round, and we will launch our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive,” she said.

“We have set a very attractive fiscal framework for investors. The overall environment is much 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.”

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The NUPRC chief executive said Nigeria’s investment climate had improved following the enactment of the Petroleum Industry Act (PIA) in 2021 and the executive orders signed by President Bola Tinubu.

According to her, between 2021 and 2026, the commission conducted at least four successful licensing rounds, attracting additional investments into the country.

She said this represented a departure from the pre-PIA era, when licensing rounds were less frequent.

Ms Eyesan also highlighted Nigeria’s enormous gas potential, noting that the country holds an estimated 215 trillion cubic feet (TCF) of gas reserves but produces barely seven billion cubic feet (bcf) daily.

She said the gap between available reserves and current production presented significant opportunities for investors, particularly with major gas infrastructure projects in the pipeline.

“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 to Europe and will also meet regional demand. So, Nigeria is positioned to meet not just domestic supply,” the NUPRC chief executive said.

Ms Eyesan maintained that competition for investment in the global petroleum industry had intensified as more countries discovered oil and gas resources.

She said Nigeria had taken steps to position itself ahead of the competition by introducing reforms and making adjustments to attract the right category of investment.

“We understand that investors will prize execution risk, cost, delays and also uncertainty, and so what we have done in Nigeria is to ensure that we guard against these risks and then attract the investment required to enable us to unlock the huge resources we sit on,” she said.

2026 Licensing Round

On 7 October, the NUPRC announced the 2026 Licensing Round, offering 40 oil and gas blocks to prospective investors.

The announcement came less than three months after the commission concluded the bidding programme for its 2025 licensing round.

PREMIUM TIMES reported that 31 companies emerged as winners of 37 oil and gas blocks in the 2025 Licensing Round after the commercial bid conference held in Abuja in July.

The bidding process, conducted at the Transcorp Event Centre, attracted 143 companies, which submitted about 200 bids for 37 of the 50 oil and gas blocks offered by the commission.

The blocks span several terrains, including the Niger Delta onshore, shallow-water and deep-offshore areas, as well as the Benin, Anambra and Chad basins and the Benue Trough.

While 37 blocks attracted bids, the remaining 13 received no offers.

The NUPRC described the outcome as significant, noting that it was the first time Nigeria’s frontier basins, including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin, had attracted such strong investor interest.

Following the 2025 licensing round, the commission also outlined plans to increase crude oil production by restoring more than 788,000 barrels per day of shut-in production and advancing offshore projects valued at an estimated $30 billion to $50 billion towards final investment decisions.


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Insurance Industry Set for 2026 Almond Awards November 6

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Excitement is building within Nigeria’s insurance industry as stakeholders prepare for the 2026 Almond Insurance Industry Awards, scheduled to hold on Friday, November 6, 2026, at the Stable Event Centre.

The highly anticipated annual event, organised by Almond Productions Limited, is expected to attract leading personalities, industry professionals and other distinguished guests from within and outside the insurance sector.

Preparations for this year’s edition have been ongoing for over six months, generating considerable interest across the insurance industry and beyond.

Speaking in a press release, the Head of the Awards Team and Chief Executive Officer of Almond Productions Limited, Ms. Faith Ughwode, said the organisers had gone above and beyond to ensure that guests enjoy a memorable experience.

According to her, the organisers have lined up some of the finest entertainers in the music and comedy industries to add excitement and glamour to the occasion.

The Almond Insurance Industry Awards is an annual platform dedicated to recognising and celebrating individuals and organisations whose contributions are making a significant difference in Nigeria’s insurance ecosystem.

The 2026 edition is expected to bring together key industry stakeholders and dignitaries for an evening of recognition, networking, entertainment and celebration of excellence in the insurance sector.

The event will be strictly black-tie, with guests expected to appear in formal evening attire.

Ms. Ughwode also emphasised that admission to the event would be strictly by ticket, urging prospective attendees to make the necessary arrangements ahead of the ceremony.

The post Insurance Industry Set for 2026 Almond Awards November 6 appeared first on Business Today NG.

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Nearly 90% of Nigerian Adults Support Methane Emission Cuts – Report

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Nearly 90 per cent of Nigerian adults support measures to reduce methane emissions, one of the most potent greenhouse gases contributing to global warming, a new survey has found.

The figure represents a 17-percentage-point increase from the 72 per cent recorded in 2024. The survey also found that more than half (53 per cent) of Nigerian adults are very concerned about climate change.

The Global Methane Hub (GMH) commissioned the survey in collaboration with the Yale Program on Climate Change Communication (YPCCC), and it was published on 29 October.

Conducted across Nigeria and 17 other countries, the international survey sought to measure public awareness of climate change and methane emissions, and to examine attitudes towards solutions for reducing methane pollution.

The findings show that concern is even greater regarding immediate environmental threats. About 67 per cent of Nigerian respondents said they were very concerned about poor water quality, while 60 per cent expressed similar concerns about flooding and access to drinking water. Another 55 per cent were very concerned about poor air quality.

Researchers said the findings reflect the growing effects of climate change in Nigeria, where increasingly intense rainfall and flooding are putting communities, infrastructure and water systems at risk.

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The findings also reinforce concerns PREMIUM TIMES has repeatedly highlighted about methane emissions across Nigeria’s oil and gas sector and their consequences for the lives and livelihoods of communities in oil-producing areas.

Nigeria faces significant methane emission challenges, largely driven by oil and gas production, routine gas flaring, venting and ageing infrastructure. Concerns have also persisted over the enforcement of regulations governing gas flaring and methane emissions.

Methane leaks and routine gas flaring in the Niger Delta have been linked to environmental pollution, contamination of local water sources, damage to farmlands and respiratory health risks.

In Bille, Rivers State, for instance, severe methane bubbling and contamination of water wells have reportedly created acute health and safety concerns for residents.

The continued burning and venting of associated gas also represents a significant economic loss, as billions of cubic feet of gas that could otherwise be captured and commercialised are wasted annually.

Growing environmental concerns

In July, heavy rainfall triggered widespread flooding across parts of Nigeria, including Lagos, as saturated soils increased the risk of flash floods. Authorities also warned that 27 states could be affected.

As the rainy season intensified, authorities subsequently placed 14 states on flood alert, highlighting the growing risks facing communities already struggling with flooding, deteriorating water quality and limited access to safe drinking water.

Methane is a short-lived climate pollutant and one of the most effective targets for slowing global warming in the near term. It is more than 80 times as potent as carbon dioxide over 20 years.

Reducing methane emissions can also deliver significant public health and economic benefits, including improved air quality and reduced pollution exposure.

“As flooding and water challenges put greater pressure on communities across Nigeria, the case for tackling methane is becoming increasingly clear,” said Marcelo Mena, Chief Executive Officer of the Global Methane Hub.

“This survey shows strong and growing support for methane action, with nearly nine in ten Nigerians now supporting efforts to reduce emissions. In the oil and gas sector, for example, cutting methane leaks, venting and flaring reduces pollution and safety risks for nearby communities while helping slow warming.

“It also makes Nigerian oil and gas more competitive, as buyers in markets like Europe increasingly demand lower-methane supply.”

Tengi George-Ikoli, Nigeria Country Manager at the Natural Resource Governance Institute (NRGI), said Nigerians had legitimate reasons to be concerned about methane emissions and their effects on health, the environment and livelihoods.

“Nigerians are right to be concerned about methane emissions and the harm they cause to health, environments and livelihoods,” she said.

“In parts of the Niger Delta, those costs are already being felt, so communities are justified in calling for stronger enforcement of environmental regulations and for clear mechanisms to prevent, mitigate and respond to methane-related harm.

“As Nigeria expands its use of gas, reducing methane emissions must remain a priority to support liveable communities, protect vulnerable populations and help the country meet its climate commitments.”

Anthony Leiserowitz, Director of the Yale Program on Climate Change Communication, said understanding public awareness and perceptions was essential to effective communication and policymaking.

“Understanding what people know and think is essential to effective public communication and policymaking,” he said.

“Methane reduction is one of the fastest ways to limit global warming, making it critical that the public understands both the challenge and the solutions.

“This research helps provide the data needed to identify public knowledge gaps, strengthen communication campaigns, and help informed citizens participate in these climate change solutions.”

Key findings of the survey

The survey found that 69 per cent of Nigerian respondents believe climate change is caused by human activities, while 89 per cent support measures to reduce methane emissions.

It also found that nearly two-thirds (64 per cent) of respondents were familiar with methane.

Oil and gas companies were identified as both significant contributors to climate change and important actors capable of addressing it.

About 57 per cent of respondents ranked oil and gas companies among the three entities most responsible for climate change, while 78 per cent considered them very capable of making meaningful changes.

Nigerians want industries to address climate change

The findings show broad support for reducing methane emissions across the three major sectors responsible for most human-caused methane pollution: agriculture, waste and energy.

In agriculture, 84 per cent of respondents supported efforts to minimise methane emissions, while 88 per cent backed measures to reduce emissions from waste disposal.

Similarly, 88 per cent supported reducing methane emissions from energy production.

Overall, the 89 per cent support for methane reduction matched the proportion of respondents who backed broader climate action.

The report said the findings demonstrate widespread public support for industry-led interventions and stronger environmental protections.

It also noted that Nigerians see corruption as a major obstacle to enforcing environmental regulations effectively.

With strong majorities supporting methane reduction across all three sectors, the report said policymakers and industries have an opportunity to advance solutions that reduce pollution while strengthening environmental accountability.

Global support for methane reduction remains strong

The international survey covered 18 countries across four continents: Brazil, China, Denmark, Ethiopia, Germany, Greece, Indonesia, Italy, Malaysia, Morocco, Nigeria, Paraguay, South Africa, South Korea, Spain, the United Arab Emirates, the United Kingdom and Uruguay.

The online survey gathered responses from 12,189 adults, including at least 700 respondents in Nigeria.

Participants were asked questions about their perceptions of climate change, environmental concerns, awareness of methane emissions and support for specific policies to reduce methane pollution.

Across the countries surveyed, 85 per cent of respondents supported action to reduce methane emissions, indicating widespread international backing for efforts to tackle the pollutant.

Support was particularly strong in Asia, Africa and Latin America, reaching 94 per cent in South Korea, 91 per cent in Malaysia, 90 per cent in China and Brazil, and 89 per cent in Nigeria and South Africa.

The findings also showed that respondents who reported experiencing greater climate change impacts were more likely to support measures to reduce methane emissions.

Across regions, respondents expressed concern about the tangible effects of climate change in their communities, including extreme heat, wildfires, drought, flooding and deteriorating water quality.

Waste emerged as a particularly prominent area for methane reduction in several countries, alongside strong support for interventions in the energy and agriculture sectors.

The report further highlighted public expectations for governments and industries to take greater responsibility for reducing methane emissions.

Why reducing methane is critical to tackling climate change

The report described methane reduction as one of the fastest ways to slow global warming in the near term.

Methane accounts for approximately 30 per cent of the warming experienced since pre-industrial times and is more than 80 times as powerful as carbon dioxide over 20 years.

Unlike carbon dioxide, which can remain in the atmosphere for centuries, most methane breaks down within approximately a decade.

According to the report, cutting human-caused methane emissions by 45 per cent this decade could prevent nearly 0.3 degrees Celsius of warming by 2045, helping to keep international climate commitments within reach.

Reducing methane emissions would also improve air quality, protect agricultural production, create jobs, strengthen food systems, reduce health risks, and improve community resilience.

The report stressed that because methane pollution crosses national borders, coordinated action among governments, businesses, researchers and communities is essential to achieving significant reductions.

Melissa Bell, Senior Vice President of Research at Global Strategy Group, GMH’s research partner, said the consistent findings across countries demonstrated sustained public support for methane reduction.

“The consistency of these findings sends a clear signal: support for reducing methane emissions is strong and sustained,” she said.

“People are concerned about the impacts of climate change, they support action across the major sources of methane emissions, and they expect those with the greatest ability to make a difference to take responsibility.”

Survey methodology

Global Strategy Group conducted the 10-minute online survey between 3 and 25 August 2026. The questionnaire was translated into 13 languages and administered across Europe, South America, Africa and Asia.

READ ALSO: Nigeria renews 2030 gas flaring pledge despite enforcement, methane monitoring gaps

Responses were collected from adults aged 18 and above who currently reside in the participating countries and have internet access.

The researchers applied weights for age, gender, geographical location, and education to ensure the samples represented adults with internet access in each country.

At least 700 responses were collected in 15 countries, including Nigeria, South Africa, China, Indonesia, Malaysia, South Korea, Morocco, Brazil, Denmark, the United Kingdom, Germany, Greece, Spain, Italy and the United Arab Emirates.

The margin of error was ±3.7 per cent in these countries, except Morocco and Brazil, where it was ±3.6 per cent.

In Ethiopia, Paraguay and Uruguay, at least 400 responses were collected, with margins of error of ±4.9 per cent, ±4.5 per cent and ±3.9 per cent, respectively.


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