The Nigerian Upstream Petroleum Regulatory Commission generated approximately N1.24 billion from oil and gas service permits during the first quarter of 2026.
Figures contained in the commission’s Upstream Service Industry Newsletter showed that revenue under the Oil and Gas Industry Service Permit scheme reached N1.237 billion during the period.
February produced the highest monthly revenue at N574.1 million, while specialized services accounted for about 90 per cent of the total amount collected.
The commission said Nigeria’s upstream petroleum service industry remained stable during the quarter, supported by sustained rig activity, regulatory reforms and continued licensing operations.
A total of 49 Upstream Monitoring and Regulation licenses were issued for rigs, hydraulic workover operations and vessel certifications.
February recorded 24 approvals, representing nearly half of the licenses issued during the quarter.
Rig licenses made up about 69 per cent of the approvals, which the regulator said reflected continued investment in drilling and asset certification.
The commission also processed 7,942 service permits during the quarter.
Although the figure represented a 22.3 per cent decline from the previous quarter, the regulator attributed the reduction to routine licensing cycles rather than a decline in industry activity.
Major and specialized permit categories continued to represent more than 90 per cent of approvals.
Nigeria maintained between 72 and 73 active rigs during the quarter.
The number stood at 72 in January and February before rising to 73 in March.
Land operations remained dominant with 52 rigs, while offshore rigs increased from 11 to 12 in March. Swamp operations remained unchanged at nine rigs.
Compared with the first quarter of 2025, total rig activity increased by 22.6 per cent.
The commission described the growth as evidence of sustained investment in exploration and production.
The quarter also witnessed the signing of an agreement for an 11,700 square kilometer three dimensional seismic survey under Petroleum Exploration License 5.
According to the NUPRC, ongoing policy reforms and strategic collaborations have improved regulatory transparency, operational efficiency and investor confidence in Nigeria’s upstream petroleum industry.
