Unveiling the round, the Commission’s Chief Executive, Gbenga Komolafe, said the exercise spans onshore, shallow-water, frontier, and deepwater terrains, adding that the initiative is designed to expand reserves, increase national production, and restore global confidence.
He noted that the bid process has been fully aligned with the Petroleum Industry Act, which prescribes a transparent and competitive framework.
Komolafe said, “The Nigerian Upstream Petroleum Regulatory Commission is proud to formally announce the commencement of the Nigeria 2025 licensing round. This announcement is in line with Section 73 of the Petroleum Industry Act, which prescribes a fair, transparent, and competitive bidding process.”
Of the 50 blocks on offer, 15 are onshore assets, 19 are in shallow water, 15 are frontier blocks, and one sits in deep water. Projections from the NUPRC suggest that full development could deliver up to 400,000 barrels per day over the next decade.
Komolafe stressed that the round is expected to add up to 2 billion barrels to the country’s reserves.
He added that transparency remains central to the process, which will run for six months. Building on the 2024 bid round, the new exercise uses automated workflows, digital data rooms, and stricter qualification criteria. Applicants must first pass a qualification stage before shortlisted firms are invited to submit technical and commercial proposals.
“The bid process will be automated and digital. Winners will emerge at the commercial bid stage,” he said.
He emphasised that the age of a bidding company is no longer a barrier, since the Commission now prioritises technical competence, financial capacity, and credible development plans.
Komolafe highlighted new safeguards, including a Bid Guarantee Requirement that compels winners to provide financial assurances to ensure they proceed to development.
He argued that this measure prevents weak bidders from sitting on assets or defaulting after securing licences.
“If a winner fails to develop the asset, the bidder loses, not Nigeria,” he said.
The NUPRC chief also insisted that the recent rounds have restored credibility to Nigeria’s oil licensing system.
He said the 2024 exercise attracted commendation from transparency watchdogs and was concluded without petitions or litigation. Rising rig counts, he added, show that exploration activity is already recovering.
He argued that the global energy transition should push hydrocarbon-rich nations to compete more aggressively for investment or risk being left behind.
The government hopes the 2025 Licensing Round will strengthen investor confidence, deepen indigenous participation, and reposition Nigeria as a competitive player in the global energy landscape.
