RismadarVoice Reporters
September 19, 2026
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned holders of non-performing oil licences that they risk losing their assets if they fail to meet statutory work commitments by October 31, 2026.
The commission said the directive was part of its implementation of the “Drill-or-Drop” provision of the Petroleum Industry Act (PIA) 2021.
In a circular signed by its Chief Executive Officer, Oritsemeyiwa Eyesan, the NUPRC said it would move to revoke licences that remain inactive or fail to meet approved work obligations.
The affected assets include licences awarded under the 2020 Marginal Field Bid Round, the 2022/2023 Mini Bid Round and the 2024 Licensing Round.
The Commission urged holders of the affected licences to fulfil their statutory obligations, including executing approved work programmes within the stipulated timelines.
The NUPRC said the measure was necessary to ensure that licensed oil acreages are actively developed and petroleum operations are conducted in accordance with regulatory requirements.
“In furtherance of the Commission’s mandate to ensure that licensed acreages are actively worked and petroleum operations are conducted in a diligent and businesslike manner, the Commission wishes to reiterate its Drill-or-Drop Policy and remind licensees of their statutory work commitments under the licence terms, including the timely execution of their approved work programme,” the commission said.
The regulator warned that failure to comply with the requirements could result in the revocation of the affected licences.
The move is part of the commission’s efforts to discourage the prolonged holding of undeveloped oil assets and ensure that awarded petroleum acreages contribute to Nigeria’s upstream sector.
