The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 2025 oil and gas licensing round, offering 50 blocks for bidding across five of Nigeria’s sedimentary basins, while emphasizing that only technically competent and financially capable firms will qualify.
The move, the commission said, is designed to eliminate speculative participation and position Nigeria’s upstream sector as a transparent, rules-driven destination for long-term investment.
Speaking during the pre-bid webinar on Wednesday, NUPRC Chief Executive Oritsemeyiwa Eyesan outlined the framework, evaluation criteria, and commercial terms for the round, describing it as a strategic initiative to expand reserves, enhance production, and strengthen Nigeria’s energy security.
“This upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility as we work together to shape the next phase of Nigeria’s upstream oil and gas industry,” Eyesan said.
She stressed that the licensing round would be strictly merit-based, with technical competence, financial capacity, and professionalism at the core of the evaluation process.
“Only candidates with strong technical and financial credentials, professionalism, and credible plans will move forward. Winners will be chosen through a transparent, merit-based process that takes you from award to exploration, appraisal, and ultimately full production,” Eyesan added.
The 50 blocks on offer span five of Nigeria’s seven sedimentary basins, giving investors access to both frontier and mature assets.
“In this licensing round, 50 oil and gas blocks across Nigeria are available, allowing investors to access the country’s key basins and create long-term value,” she said.
With the approval of President Bola Tinubu, the commission revised the commercial structure of the round to reduce entry barriers while discouraging unserious bidders. Signature bonuses have been set between $3 million and $7 million, with greater weight placed on credible work programmes, technical capability, and speed to production rather than aggressive cash offers.
“With the approval of His Excellency, President Bola Tinubu, signature bonuses for the 2025 licensing round are now set within a value range of $3m–$7m that reduces entry barriers and places greater weight on what truly matters—technical capability, credible work programmes, financial strength, and the ability to deliver production within the shortest possible time,” Eyesan said.
She explained that the adjustments were aimed at increasing competitiveness and ensuring Nigeria remains attractive to serious global upstream investors amid tightening energy security concerns.
“This has been done deliberately to increase competitiveness and in response to capital mobility. The upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility,” Eyesan said.
The licensing round will follow a five-stage process: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.
Eyesan emphasized that the entire exercise will comply with the Petroleum Industry Act (PIA) 2021, with digital tools deployed to ensure transparency, ease of access, and accountability.
“Let me emphasise clearly that the bid process will comply with the Petroleum Industry Act, promote the use of digital tools for smooth data access, and remain open to public and institutional scrutiny through NEITI and other oversight agencies,” she said.
