By Atoyebi Nike
The Federal Government has launched the Nigeria 2025 Petroleum Licensing Round to draw about $10bn in upstream investments and unlock as much as two billion barrels of crude oil. The Nigerian Upstream Petroleum Regulatory Commission announced the programme in Abuja, listing 50 blocks across onshore, shallow-water, frontier and deepwater basins.
NUPRC Chief Executive Gbenga Komolafe said the round signals a renewed push to revive exploration and strengthen long-term production. He explained that the Commission has released full bid guidelines on its portal and adopted a two-stage process to improve credibility and ensure investor confidence, in line with the Petroleum Industry Act.
The blocks include 15 onshore assets, 19 in shallow waters, 15 frontier opportunities and one deepwater acreage. Komolafe noted that successful developments could deliver up to 400,000 barrels per day once the blocks come on stream.
He said transparency will define the six-month bid cycle, which builds on reforms introduced during the 2024 licensing round. Applicants will first undergo a qualification review before shortlisted firms sign confidentiality agreements and submit technical and commercial bids.
The Commission expects the 2025 round to deepen exploration activity, widen reserves and expand Nigeria’s production base over the next decade.
