The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened the 2025 licensing round, offering 50 oil and gas blocks across five sedimentary basins, while emphasising that only companies with robust technical skills and financial strength will qualify.
The Commission said the initiative is aimed at filtering out speculative bidders and positioning Nigeria’s upstream oil and gas sector as a transparent, investment-friendly and competitive destination.
Speaking at the pre-bid webinar on Wednesday, NUPRC Chief Executive Oritsemeyiwa Eyesan described the round as a strategic move to expand Nigeria’s reserves, boost production and strengthen energy security amid evolving global market dynamics.
“This upstream sector is serious business and requires long-term commitment,” Eyesan said. “This licensing round is an open invitation to partnership, transparency and shared responsibility as we shape the future of Nigeria’s oil and gas industry.”
She explained that the Commission has adopted a merit-based evaluation framework, with technical competence, financial capacity and credible development plans forming the foundation for selection.
“Only candidates with strong technical and financial credentials, professionalism and realistic work programmes will advance,” Eyesan said. “The process is transparent and designed to take winners from award through exploration and appraisal to full production.”
The 50 blocks on offer are located across five of Nigeria’s seven sedimentary basins, giving investors access to both frontier and mature terrains.
Eyesan also noted that, with the approval of President Bola Tinubu, the Commission had revised the commercial terms of the round to lower entry barriers while discouraging unserious participation. Signature bonuses are now set within a $3 million to $7 million range, with the focus placed on technical capability, credible work programmes, and speed to production rather than aggressive cash bids.
“This structure reflects global capital mobility and Nigeria’s need to attract serious investors capable of delivering production quickly and sustainably,” she said.
The licensing round will follow a five-stage process: registration and pre-qualification, data access, technical bid submission, evaluation, and a commercial bid conference. Eyesan said the process will comply fully with the Petroleum Industry Act (PIA) 2021, with digital platforms deployed to ensure transparency and public accountability.
“All licensing materials have been available on our portal since December 1, 2025, and the exercise will remain open to scrutiny from the public, investors and oversight bodies such as NEITI,” she said.
Providing technical details, Amber Ndoma-Egba, Director of Lease Administration, Exploration and Acreage Management at NUPRC, said the blocks cover the Chad Basin, Benue Trough, Anambra Basin, Bida Basin and the Niger Delta Basin.
He explained that technical evaluation will focus on subsurface understanding, exploration work programmes, development and production concepts, sustainability, decarbonisation objectives and host community engagement.
“Technically weak companies will not scale through. Bidders must clearly demonstrate how they intend to explore, develop and produce from the blocks within the approved timelines,” Ndoma-Egba said.
He disclosed that a minimum work performance security of one per cent has been approved, though bidders can increase it voluntarily to enhance their technical scores.
Bidders are expected to outline exploration plans within the initial exploration period — three years for onshore assets and five years for deepwater and frontier blocks. Final winners will be selected based on a weighted combination of technical and commercial scores, in line with the PIA.
The 2025 petroleum licensing round, officially launched on December 1, 2025, aims to attract up to $10 billion in new upstream investment into Nigeria’s oil and gas sector.
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