The Federal Government on Monday launched the 2025 Nigeria Petroleum Licensing Round, setting an ambitious target of attracting $10 billion in fresh upstream investments and unlocking an estimated two billion barrels of crude oil reserves.
Speaking at the official unveiling in Abuja, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Gbenga Komolafe, said the new bid round, covering 50 oil and gas blocks across onshore, shallow-water, frontier and deep water basins marks a strategic push to ramp up exploration and rebuild Nigeria’s long-term production capacity.
Komolafe noted that the licensing process is anchored on transparency, competitiveness and strict compliance with the Petroleum Industry Act, PIA 2021.
He added that the Commission had activated a dedicated online portal, br2025.nuprc.gov.ng, where investors can access detailed guidelines and participate in the exercise.
According to him, the 2025 round comprises 15 onshore blocks, 19 shallow-water assets, 15 frontier acreage, and one deep water block, all approved by President Bola Tinubu.
He stated that projections from the Commission show that the awarded assets could deliver up to 400,000 barrels of oil per day at peak output, significantly deepening Nigeria’s upstream activity over the next decade.
Komolafe stressed that the Commission has adopted a two-stage process qualification and bidding to ensure credibility and fairness.
Interested companies are required to submit comprehensive documentation during the qualification phase. Those who scale through will then proceed to the bid stage, where they must sign confidentiality agreements and submit technical and commercial proposals.
He added that the 2025 round builds on reforms introduced in the 2024 bid exercise, including digitised workflows, improved data availability and streamlined evaluation procedures, all aimed at accelerating approvals and boosting investor confidence.
The bid round is expected to run for six months.
(Editor: Terverr Tyav)
