The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reiterated its commitment to a transparent process for the 2025 oil block licensing round.
Speaking at a pre-bid webinar on Wednesday, the NUPRC Chief Executive, Oritsemeyiwa Eyesan, emphasised that the process is an opportunity for committed partners to participate in a stable, rules-based system that fosters genuine value creation.
A licensing round is a process by which the government grants oil and gas exploration and production rights to companies through a competitive bidding process.
Last December, the NUPRC opened bidding for 50 oil and gas blocks, targeting $10 billion in investment. Of these 50 blocks, the commission said 15 are onshore assets, 19 are shallow water assets, 15 are frontier assets, and one is a deep water asset.
At the time, the commission said the bidding will add 2 billion barrels of oil output over the next decade.
On Wednesday, Mrs Eyesan said the 2025 licensing round is open to investors ready to invest, bring technology, and accelerate Nigeria’s oil assets from licence award to full production.
She added that the process involves five steps: registration, pre-qualification, data acquisition, technical bid submission, and evaluation and commercial bid conference.
According to her, only candidates with strong technical and financial credentials, professionalism, and credible plans will move forward, selected through a transparent merit-based process.
With the approval of President Bola Tinubu, she said signature bonuses for the bid round are now set within a value-range that reduces entry barriers and places greater weight on what truly matters.
These, she said, include: technical capabilities, credible programmes, financial strength and ability to deliver production within the shortest possible time.
“This has been done to increase competitiveness and a response to capital mobility.”
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She assured that the bid process will comply with the Petroleum Industry Act (PIA) 2021, promote digital tools, and remain open to public scrutiny.
“Let me state clearly, that the bid process will comply with the PIA 2021, promote use of digital tools, for smooth data access and remain open to public, and international and institutional scrutiny, through partners like the Nigeria Extractive Industries Transparency Initiative (NEITI), and other oversight agencies. Indeed, transparency is an integral part of our process,” she added.
Speaking further she said since 1 December, all licensing materials have been made available on the commission’s portal, and support channels have been created to address applicant enquiries.
“To further strengthen the process, today’s webinar, the first of its kind, aims to clarify bid requirements, and helps you participate effectively before the tender deadline as well.
“We also invite your questions and feedback to improve the licensing round process and outcomes. In closing, let me emphasise that the Nigerian 2025 licensing round is not merely a bidding exercise, it is a clear signal of a reimagined upstream sector anchored on the rule of law, driven by data, aligned with global investment realities, and focused on long term value creation,” she added.
