Nigeria launches 2025 petroleum licensing round to attract $10bn investment and unlock up to two billion barrels of oil.

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has launched the Nigeria 2025 Petroleum Licensing Round, aiming to attract $10 billion in new investments and unlock up to two billion barrels of crude oil reserves.

Also read: Nigeria crude oil exports plunge despite rising production in 2025

Unveiling the round on Monday, NUPRC Chief Executive Gbenga Komolafe said the initiative covers 50 oil and gas blocks across onshore, shallow-water, frontier, and deepwater terrains.

He described the exercise as a major step in revitalising exploration, expanding reserves, and boosting national production.

“The Nigerian Upstream Petroleum Regulatory Commission is proud to formally announce the commencement of the Nigeria 2025 licensing round and the launch of the licensing round online portal br2025.nuprc.gov.ng,” Komolafe said.

“This announcement is in line with Section 73 of the Petroleum Industry Act, 2021, which prescribes a fair, transparent, and competitive bidding process. Following the approval of President Bola Ahmed Tinubu, 50 blocks across diverse basins have been listed for exploration.”

Of the 50 blocks, 15 are onshore, 19 shallow water, 15 frontier, and 1 deepwater.

Projections indicate that full operationalisation of these assets could collectively deliver up to 400,000 barrels per day.

The 2025 round is expected to attract $10 billion in investments over the next decade.

Komolafe highlighted the two-stage bidding process, designed to ensure credibility and investor confidence.

Applicants must first pass a qualification stage, submitting extensive documentation, before proceeding to the technical and commercial bid stage.

Winners will be determined at the commercial round.

The Commission emphasised that the age of a company or date of incorporation is irrelevant; assessment focuses on technical capacity, professionalism, and financial capability.

The Chief Executive defended past licensing rounds, noting that the 2024 exercise was “massively successful” with awardees complying and advancing exploration activities.

Rig counts across the country have risen, reflecting active drilling and field development.

“Development of an asset is driven by human capital, technology, and funding, not the date of incorporation of a special-purpose vehicle,” Komolafe said.

“A newly registered company with the right expertise and funding can develop an asset faster than an older one without capacity.”

He also confirmed that signature bonuses are no longer a winning criterion.

Instead, a Bid Guarantee Requirement ensures that successful bidders proceed to field development.

The NUPRC chief added that the 2025 round builds on lessons from previous licensing rounds, integrating digital platforms, automated workflows, and improved data access.

The Commission plans global roadshows, including in Beijing, to attract investors with the financial and technical capacity to develop Nigeria’s hydrocarbon potential.

Also read: Nigeria Oil Production 2025 Surges Past 1.8m bpd, Boosting Budget Hopes

The Nigeria 2025 Petroleum Licensing Round is part of a broader strategy under the Petroleum Industry Act to rebuild confidence in the upstream sector, encourage indigenous participation, and reposition Nigeria as a competitive investment destination in Africa’s largest oil-producing nation.