NUPRC Targets $10 Billion From 2025 Oil Licensing Bid Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened the 2025 oil licensing bid round, projecting $10 billion in investment and long-term output growth. The commission said the exercise will run for six months from December 1, 2025.

NUPRC Chief Executive, Gbenga Komolafe, said the bid round is structured to expand Nigeria’s crude oil reserves and production capacity over the next decade. He said full development of awarded blocks could add two billion barrels to national reserves and deliver up to 400,000 barrels per day when operations mature.

He said President Bola Tinubu approved 50 blocks for the round, covering onshore, shallow water, frontier and deep-water terrains. The breakdown includes 15 onshore blocks, 19 shallow-water assets, 15 frontier blocks and one deep-water location.

He said the licensing push aims to raise government revenue, increase production and deepen upstream activity through aggressive exploration programmes. He added that the process is expected to generate thousands of jobs across technical operations, logistics and supply chains, as well as expand opportunities for gas development in line with national energy-transition goals.

He said the commission has moved to de-risk exploration by reprocessing extensive 2D and 3D seismic surveys to produce clearer subsurface images. He said the upgraded datasets reduce uncertainty for investors and improve discovery prospects compared with previous bid rounds.

He said the high-resolution data now available gives investors a clearer understanding of petroleum systems, lowers entry risks, shortens appraisal timelines and accelerates movement from licensing to first oil or gas.

He announced the launch of the bid-round portal br2025.nuprc.gov.ng, describing it as part of efforts to ensure a transparent, competitive process in line with the Petroleum Industry Act.