- NUPRC unveils a six-month licensing round offering 50 oil and gas blocks, aiming to attract $10bn and deliver up to 400,000 bpd when fully operational.
- New rules prioritise transparency, technical competence and financial capacity, with automated bidding, bid guarantees and strengthened oversight to restore investor confidence.
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has launched the 2025 Petroleum Licensing Round. The initiative aims to attract $10 billion in new investments and unlock up to two billion barrels of crude oil.
Meanwhile, NUPRC Chief Executive Gbenga Komolafe unveiled the bid round on Monday, December 1, in Abuja. He said it covers 50 oil and gas blocks across onshore, shallow-water, frontier, and deepwater areas. He added that the exercise will reverse declining exploration, expand reserves, and boost national production.
Komolafe stated that the Commission has published detailed guidelines on its portal at br2025.nuprc.gov.ng. The round will also follow a two-stage bidding process designed to ensure transparency, fairness, and investor confidence.
Of the 50 blocks, 15 are onshore, 19 are shallow-water, 15 are frontier, and one is deepwater. The blocks could collectively produce up to 400,000 barrels per day once fully operational. The 2025 round is expected to add up to two billion barrels of oil over the next decade.
In addition, the process begins with a qualification stage. Interested companies must submit documentation for evaluation. Only shortlisted firms will proceed to the bid stage, where they submit technical and commercial proposals. Winners will emerge at the commercial bid round.
Furthermore, Komolafe said the Commission prioritises technical expertise, financial capacity, and credible development plans over company age. He also introduced a Bid Guarantee Requirement to ensure winners proceed with field development. Signature bonuses will no longer be a determining factor in the winner.
The NUPRC stated that the 2025 round builds upon the success of the 2024 licensing round, which introduced digital platforms, automated workflows, and enhanced data access. Komolafe also stated that Nigeria’s upstream sector is now experiencing increased drilling and field activity.
He added that global roadshows will target investors with the technical and financial capacity to develop the blocks. The 2025 Licensing Round forms part of a broader plan to rebuild investor confidence, increase production, and position Nigeria as a competitive investment destination.