The federal government has launched the Nigeria 2025 Petroleum Licensing Round to attract $10 billion in new investment and unlock up to two billion barrels of crude oil.
The announcement was made in Abuja on Monday, December 1, by Nigerian Upstream Petroleum Regulatory Commission (NUPRC), chief executive, Gbenga Komolafe.
The licensing round covers 50 oil and gas blocks across onshore, shallow water, frontier, and deepwater areas, aiming to reverse declining exploration activity, expand reserves, and boost national oil production.
Komolafe explained that the 2025 round represents a major step toward revitalising exploration and increasing long term production capacity.
Detailed guidelines have been made available on the NUPRC portal (br2025.nuprc.gov.ng), and a two-stage bidding process has been adopted to ensure transparency, credibility, and fairness, in accordance with Section 73 of the petroleum industry act 2021.
Of the 50 blocks, 15 are onshore, 19 in shallow water, 15 in frontier areas, and one deepwater asset.
The round is expected to significantly expand upstream activity over the next decade, with projected full operational production of up to 400,000 barrels per day.
Komolafe stated, “The Nigeria 2025 licensing round is expected to attract about $10 billion in investments and add up to two billion barrels of oil output over the next ten years, with production volumes reaching 400,000 barrels per day when the blocks are fully operational.”
The six month bidding process begins with a qualification stage, where applicants or their consultants submit extensive documentation for evaluation.
Only shortlisted firms proceed to the bid stage, signing confidentiality agreements and submitting technical and commercial proposals.
Winners will emerge at the commercial bid round.
Komolafe emphasised that the assessment focuses on technical capacity, professionalism, and financial capability, rather than the age or incorporation date of the companies.
A new bid guarantee requirement ensures that winners proceed to field development, while signature bonus promises are no longer the determining factor.
He added that previous licensing rounds, including the 2024 round, were conducted with transparency and competitiveness, attracting commendation from the Nigeria extractive industries transparency initiative.
Rig activity is already rising, reflecting renewed investor interest and compliance.
Komolafe also highlighted plans for global roadshows, including in Beijing, to attract international investors, stressing the need to act strategically in a changing global energy landscape.
“The petroleum industry act empowers the commission to run licensing rounds that grow reserves and production. Countries with hydrocarbon resources must actively attract investment or risk being left behind,” he said.
The 2025 licensing round is part of a broader agenda to rebuild confidence in Nigeria’s upstream sector, encourage indigenous participation, and position the country as a competitive investment destination.
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