The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has urged global investors to capitalise on opportunities in Nigeria’s 2025 licensing round.
Eniola Akinkuotu, the regulator’s head of media and strategic communications, in a statement, said the commission Chief Executive, Oritsemeyiwa Eyesan, disclosed this on Tuesday, at the opening of the 10th Anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos.
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 Tuesday, Mrs Eyesan, said the licensing round is designed to unlock Nigeria’s upstream potential under a more predictable and investor-friendly regulatory framework established by the Petroleum Industry Act (PIA) 2021.
She added that Nigeria is leveraging the momentum of renewed global interest in Africa’s hydrocarbons to attract credible investors into its upstream sector.
“To facilitate resource access, Nigeria has launched the 2025 licensing round, offering 50 oil and gas blocks across various terrains.
“This initiative reflects a targeted approach to responsible resource development. We invite capable investors to participate and help realise Nigeria’s promising upstream potential,” she said.
According to her, Africa’s energy investment outlook has significantly improved over the past three years, with the continent now capturing a larger slice of global capital expenditure.
“Of the $520 billion projected in worldwide capital investment this year, Africa expects to attract between $48 billion and $50 billion. over 8 per cent of the total. This is a significant increase from previous years when it was below 4 per cent,” she added.
The NUPRC boss attributed the resurgence to renewed investor interest in frontier and established basins, particularly in Nigeria, Namibia, Mozambique and other prolific African plays.
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Beyond foreign investment, she stressed the importance of domestic and regional capital formation as a stabilising force for Africa’s energy future.
“As we work to draw in more external investment, encouraging capital formation within Africa remains essential. Domestic capital brings stronger commitment and stability, creating more opportunities for development.”
She noted that African independent operators are already playing a growing role in Nigeria’s upstream space, driving project execution and capital deployment.
A major milestone in strengthening indigenous financing, according to Mrs Eyesan, is the establishment of the Africa Energy Bank, which is headquartered in Nigeria.
“The creation of the Africa Energy Bank, proudly hosted in Nigeria, is a milestone. Unified support from stakeholders will be crucial to its success.”
The NUPRC boss also highlighted the growing impact of regional cooperation, particularly in gas development, power infrastructure and regulatory alignment.
“Beyond national efforts, regional cooperation is having a transformative effect,” she said.
