THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened 50 oil and gas blocks for bidding in the 2025 licensing round, warning that only technically competent and financially strong companies will be allowed to participate in the process.
News Point Nigeria reports that the Commission said the licensing exercise is aimed at eliminating speculative participation and repositioning Nigeria’s upstream sector as a transparent, rules-based destination for long-term investment.
The Chief Executive Officer of NUPRC, Engr. Oritsemeyiwa Eyesan, disclosed this on Wednesday during the 2025 Licensing Round pre-bid webinar, where the regulator unveiled the framework, evaluation criteria, commercial terms, and timelines guiding the bid process.
Eyesan described the licensing round as a strategic intervention to grow Nigeria’s hydrocarbon reserves, boost production, and strengthen the country’s energy security amid a rapidly evolving 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 as we work together to shape the next phase of Nigeria’s upstream oil and gas industry,” she said.
According to her, the Commission has adopted a strictly merit-based selection process that places technical competence, financial capacity, and professionalism at the centre of the bidding exercise.
“Only candidates with strong technical and financial credentials, credible work programmes, and clear development plans will move forward. Winners will be selected through a transparent, merit-based process that takes them from award to exploration, appraisal, and ultimately full production,” Eyesan stated.
She revealed that the 50 oil and gas blocks on offer are spread across five of Nigeria’s seven sedimentary basins, giving investors access to both frontier and mature exploration terrains.
“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.
Eyesan further disclosed that, with the approval of President Bola Tinubu, the Commission had reviewed the commercial structure of the bid round to reduce entry barriers while discouraging unserious bidders.
She announced that signature bonuses for the 2025 licensing round have been set between $3 million and $7 million, with greater emphasis placed on technical capability, credible work programmes, 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 $3m–$7m range. This reduces entry barriers and places greater weight on what truly matters — technical capability, financial strength, credible work programmes, and the ability to deliver production within the shortest possible time,” she said.
Eyesan explained that the decision was informed by global capital mobility and Nigeria’s need to remain competitive in attracting serious, long-term upstream investors.
She said the licensing round would follow a five-stage process comprising registration and pre-qualification, data acquisition, technical bid submission, bid evaluation, and a commercial bid conference.
The NUPRC boss stressed that the entire exercise would strictly comply with the Petroleum Industry Act (PIA) 2021, with extensive deployment of digital tools to ensure transparency and public accountability.
“The bid process will comply fully with the PIA, promote the use of digital tools for smooth data access, and remain open to public, international, and institutional scrutiny through NEITI and other oversight agencies,” she said.
Eyesan added that all licensing materials had been uploaded on the Commission’s portal since December 1, 2025, with dedicated support channels created to respond promptly to investor enquiries.
She concluded that the 2025 licensing round represents a strong signal to global investors that Nigeria’s upstream sector has been re-engineered for long-term value creation.
“The Nigeria 2025 Licensing Round is not merely a bidding exercise. It is a clear signal of a re-imagined upstream sector — anchored on the rule of law, driven by data, aligned with global investment realities, and focused on long-term value creation,” Eyesan said.
In a technical presentation, the Director of Lease Administration, Exploration and Acreage Management at NUPRC, Mr. Amber Ndoma-Egba, said the licensing round covers blocks located in the Chad Basin, Benue Trough, Anambra Basin, Bida Basin, and the Niger Delta Basin.
He explained that technical evaluation would focus on subsurface understanding, exploration work programmes, development concepts, sustainability plans, decarbonisation objectives, host community development, and lifecycle management.
“We assess your understanding of the block, subsurface evaluation, exploration work programme, development and production concepts, sustainability, decarbonisation objectives, and host community development. Technically weak firms will not scale through this process,” Ndoma-Egba said.
On commercial terms, he disclosed that the Commission had approved a minimum work performance security of one per cent, although bidders could voluntarily increase it to improve their technical scores.
Ndoma-Egba also confirmed that final winners would emerge based on a weighted combination of technical and commercial scores, in line with the provisions of the Petroleum Industry Act.
The NUPRC had earlier announced, on December 1, 2025, the official commencement of the 2025 petroleum licensing round, targeting about $10 billion in new upstream investments.