Nigerian Upstream Petroleum Regulatory Commission (NUPRC) don officially open 50 oil and gas blocks for bidding and exploration under the 2025 licensing round, as e warn say only companies wey get strong technical capacity and financial strength go scale through the process.
The Commission say the move na to stop speculative bidding and reposition Nigeria upstream oil and gas sector as transparent, rule-based destination for serious long-term investment.
NUPRC Chief Executive, Engr. Oritsemeyiwa Eyesan, disclose this on Wednesday during the 2025 licensing round pre-bid webinar, where she explain the framework, evaluation criteria and commercial terms wey go guide the bidding process.
According to Eyesan, the licensing round na strategic step to grow Nigeria oil and gas reserves, boost production and strengthen national energy security as global energy landscape dey change fast.
“This licensing round na shared responsibility as we work together to shape the next phase of Nigeria upstream oil and gas industry,” she say.
Eyesan stress say the Commission don adopt strictly merit-based approach, with technical competence and financial capacity as the main criteria.
“Only companies wey get strong technical and financial credentials, professionalism and clear plans go move forward. Winners go emerge through transparent, merit-based process from award to exploration, appraisal and full production,” she explain.
She reveal say the 50 oil and gas blocks dey spread across five of Nigeria seven sedimentary basins, giving investors access to both frontier and mature areas.
“For this licensing round, 50 oil and gas blocks dey available across Nigeria, allowing investors tap into key basins and create long-term value,” she add.
Eyesan also announce say with President Bola Tinubu approval, the Commission don review the commercial structure of the licensing round to reduce entry barriers while discouraging unserious bidders.
She disclose say signature bonuses for the 2025 round don reduce to between $3 million and $7 million, with more attention on quality work programmes and speed to production.
“With approval of President Tinubu, signature bonuses now dey within $3m to $7m range. This go reduce entry barriers and focus on wetin really matter — technical ability, credible work programmes, financial strength and ability to deliver production fast,” she say.
According to Eyesan, the adjustment follow global capital mobility and the need to make Nigeria competitive for serious long-term investors.
“The upstream sector na serious business. This approach na open invitation for partnership, transparency and shared responsibility,” she add.
She further assure say the entire process go comply strictly with the Petroleum Industry Act (PIA) 2021, with heavy use of digital tools to guarantee transparency and public accountability.
“The bid process go fully comply with PIA, promote digital access to data and remain open to public and institutional scrutiny through NEITI and other oversight bodies,” Eyesan say.
She add say all licensing materials don already upload on the Commission portal since December 1, 2025, with dedicated channels set up to respond quickly to investor enquiries.
Eyesan conclude say the licensing round go follow five key stages, including registration and pre-qualification, data acquisition, technical bid submission, commercial evaluation and final award.
