The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has opened 50 oil and gas blocks across five sedimentary basins for bidding in its 2025 licensing round, emphasizing that only technically competent and financially strong firms will progress through the process.
The exercise aims to discourage speculative participation and reposition Nigeria’s upstream sector as a transparent, rules-based destination for long-term investment.
NUPRC Chief Executive Oritsemeyiwa Eyesan made the announcement during a pre-bid webinar, outlining the framework, evaluation criteria, and commercial terms for the round.
She described the licensing exercise as a strategic intervention to grow reserves, increase production, and strengthen Nigeria’s energy security amid a changing global energy landscape.
“This upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility,” she said.
Eyesan stressed that the process would be strictly merit-based, with technical competence and financial capacity central to selection.
“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 from award to exploration, appraisal, and full production,” she added.
The 50 blocks on offer span five sedimentary basins: the Chad Basin, Benue Trough, Anambra Basin, Bida Basin, and Niger Delta Basin, providing access to both mature and frontier terrains.
With President Bola Tinubu’s approval, the commercial structure was revised to lower entry barriers while discouraging unserious bidders. Signature bonuses have been set between $3 million and $7 million, with greater emphasis on technical capability, credible work programmes, and speed to production rather than aggressive cash bids.
The licensing round follows a five-stage process: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.
Digital tools will facilitate transparency, smooth data access, and public oversight through agencies such as NEITI. Licensing materials were uploaded to the NUPRC portal on December 1, 2025, with support channels established for investor enquiries.
Amber Ndoma-Egba, Director of Lease Administration, Exploration and Acreage Management, said technical evaluation will assess subsurface understanding, exploration plans, development concepts, sustainability, decarbonisation objectives, and host community development.
Minimum work performance security is set at 1 percent, though bidders may increase it to improve scoring. Winners will be determined based on a weighted combination of technical and commercial scores in line with the Petroleum Industry Act 2021.
The 2025 licensing round, officially launched on December 1, 2025, is expected to attract about $10 billion in new investment, signaling Nigeria’s re-engineered upstream sector as a rules-based, long-term value creation opportunity for global investors.
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