THE Federal Government has disclosed that 13 of the 50 oil and gas blocks offered under the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids.
News Point Nigeria reports that the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, made the disclosure on Tuesday during the 2025 Commercial Bid Conference held in Abuja.
Eyesan explained that although 50 blocks were initially put up for bid, only 37 attracted representations from prospective investors.
“At the end of the exercise, we had 50 blocks on offer, but we only had representation for 37 of those 50 blocks.
“Thirteen of those blocks will be returning back to the basket,” she said.
The NUPRC boss also revealed that 143 companies submitted about 200 bids for the available assets.
“We have a total of 143 companies showing interest for 200 bids. That, for us, was remarkable, and I must say thank you,” Eyesan stated.
According to her, the level of participation underscored renewed investor confidence in Nigeria’s upstream petroleum industry, noting that nearly 300 companies had initially indicated interest in the licensing exercise.
“When we started the journey, we got interest from almost 300 companies. I repeat, almost 300 companies. That, in my view, was an indication that the tide has turned for Nigeria,” she said.
Eyesan further explained that the number of interested companies was reduced to 196 after the prequalification stage before progressing to the technical and commercial evaluation phases.
“From the almost 300 interests that we got, we moved to the pre-qualification stage, and that number was pruned down to 196,” she added.
She noted that, following the various stages of assessment, 143 companies eventually took part in the commercial bid process, submitting approximately 200 bids for the assets on offer.
The 2025 Licensing Round was announced on November 11, 2025, in line with the provisions of the Petroleum Industry Act 2021, with 50 oil and gas blocks spread across seven sedimentary basins made available to investors.
The assets comprise 16 onshore blocks in the Niger Delta, 18 shallow-water blocks, one deep offshore block, three blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin and another four in the Benue Trough.
The bid portal officially opened on December 1, 2025, while a pre-bid conference was held in Lagos on January 14, 2026, to guide prospective investors on the requirements and procedures for participation.
Registration and prequalification submissions closed on February 27, 2026, with the prequalification process concluded on March 16.
The commission explained that winning bids are being determined through a weighted evaluation system that considers signature bonus commitments, proposed work programmes and performance security, combining both technical and commercial assessments rather than relying solely on financial offers.
According to the framework, the approach is intended to ensure that petroleum assets are awarded to investors with the financial capacity, technical expertise and operational competence needed to accelerate exploration and production activities in Nigeria’s upstream oil and gas sector.