The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially commenced the 2025 Oil and Gas Licensing Round, projecting up to $10 billion in new investments.
The licensing round, approved by President Bola Ahmed Tinubu, offers 50 oil and gas blocks across onshore, shallow water, frontier basins, and deepwater terrains. The bid process will run for six months, beginning December 1.
Announcing the launch in Abuja, NUPRC Chief Executive, Gbenga Komolafe, highlighted that the bid round is expected to deliver:
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Up to 2 billion barrels in additional reserves over the next decade
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Approximately 400,000 barrels per day in new production when the awarded assets come onstream
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Significant opportunities for gas development and utilisation
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Thousands of direct and indirect jobs across the value chain
Komolafe emphasised that the exercise aligns with the Petroleum Industry Act (PIA) 2021, which mandates a fair, transparent, and competitive licensing process. He reiterated that the round will be fully automated and digital, ensuring clarity, efficiency, and global best practices.
To attract credible investors, NUPRC has also reduced applicable signature bonuses, while reinforcing strict qualification criteria to prevent participation by “briefcase investors” without the required technical and financial capacity.
As part of efforts to de-risk exploration, the Commission has reprocessed extensive 2D and 3D seismic data, providing bidders with high-quality geophysical datasets to support informed decision-making and reduce exploration uncertainty.
The 2025 bid round builds on the success of the 2024 exercise, which concluded without disputes and was commended by industry stakeholders for its transparency.
A dedicated portal has been launched for all bid-related activities, including access to guidelines, asset information, data packages, and the full timetable.
NUPRC reaffirmed its commitment to investor confidence, energy security, and advancing Nigeria’s upstream sector in line with global standards.