By: Aremu Toyeebaht
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched the 2025 oil and gas licensing round, offering 50 blocks for bidding across five sedimentary basins, while making it clear that only technically sound and financially capable firms will qualify.
The commission said the exercise is aimed at weeding out speculative bidders and repositioning Nigeria’s upstream sector as a transparent, rules-driven destination for long-term investment.
Speaking on Wednesday during the 2025 licensing round pre-bid webinar, the Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, outlined the framework, evaluation criteria and commercial terms guiding the process, describing the round as a strategic push to grow reserves, boost production and strengthen national 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 commission has adopted a strictly merit-based selection process, placing technical competence, financial capacity and professionalism at the core of bid evaluation.
“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,” she stated.
According to Eyesan, the 50 oil and gas blocks on offer are spread across five of Nigeria’s seven sedimentary basins, providing 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.
She also disclosed that, with the approval of President Bola Tinubu, the commission reviewed the commercial structure of the licensing round to reduce entry barriers while discouraging unserious participation.
Under the revised framework, signature bonuses have been set between $3m and $7m, with greater emphasis placed on credible work programmes, technical capacity and speed to production rather than aggressive cash bids.
“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 changes were driven by the mobility of global capital and Nigeria’s need to remain competitive in attracting serious 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,” she added.
The NUPRC boss said the licensing round will follow a five-stage process covering registration and pre-qualification, data acquisition, technical bid submission, evaluation and a commercial bid conference.
She emphasised that the entire exercise would comply strictly with the Petroleum Industry Act (PIA) 2021, with digital platforms deployed to ensure transparency, ease of access and public 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,” Eyesan said.
She added that all licensing materials have been available on the commission’s portal since December 1, 2025, with dedicated support channels established to respond promptly to investor enquiries.
Eyesan reaffirmed that the commission remains committed to full compliance with the PIA 2021, noting that the process will remain open to public, international and institutional scrutiny throughout the exercise.
