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NUPRC dismisses oil block licensing irregularity claims, assures transparency

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NUPRC defends oil block licensing

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has strongly denied allegations of irregularities in the 2024 oil block licensing round, asserting the process was transparent and strictly adhered to legal guidelines, while also refuting claims of mass license expirations

The NUPRC Oil Block licensing round of 2024 has been vigorously defended by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which has dismissed all allegations of irregularities.

Also read: Oil crash hits Nigeria’s budget

The commission insists that the entire process was conducted in strict adherence to existing laws and guidelines, refuting reports claiming violations of oil licensing procedures and improper allocation of blocks.

In a statement issued on Thursday, NUPRC addressed reports that alleged the allocation of blocks to companies with questionable eligibility.

The Commission Chief Executive, Gbenga Komolafe, clarified that the licensing round was executed in full compliance with the Petroleum Industry Act (PIA) and NUPRC’s own licensing frameworks.

Komolafe described the bidding process as transparent, competitive, and technologically driven. He directly addressed claims suggesting that a company registered just days before bidding was awarded oil blocks, by clarifying that the guidelines do not restrict participation based on the age of a company.

Instead, eligibility is determined through a comprehensive evaluation of technical competence, financial capacity, and legal standing.

The NUPRC boss explained that the technical and financial qualifications of a bidder are judged not by when a company was registered, but by the capacity and track record of its promoters or parent firms.

“This approach allows newly formed Special Purpose Vehicles (SPVs), when backed by credible and experienced industry players, to compete effectively and fairly,” Komolafe stated.

He further detailed that the 2024 Licensing Round involved multiple stages, including prequalification, technical evaluation, and commercial bid evaluation.

Applicants were required to demonstrate financial capability, technical expertise, and legal compliance by submitting detailed documentation, such as incorporation papers, tax clearances, and proof of operational experience.

“The pre-qualification window was open with no restrictions on company age,” Komolafe highlighted. “The commercial bidding phase was carried out digitally using encrypted technology to ensure the integrity and confidentiality of the data.

The results were announced transparently and publicly, featuring live televised sessions that were observed by stakeholders, including the Nigerian Extractive Industry Initiative (NEITI) and relevant government ministries.”

He added that the commercial bid evaluation was conducted using a transparent, digital, and point-based assessment system, which included Signature Bonus, Proposed Work Programme Financial Commitments, and Work Performance Security.

Meanwhile, the Commission also debunked reports claiming that 40 oil block licenses would expire on June 27, 2025. It described the report, based on data misinterpreted from the NUPRC website, as misleading and capable of creating unnecessary alarm within the industry.

NUPRC clarified that the 40 Petroleum Prospecting Licences (PPLs) referenced are at different stages of exploration and development. Many operators have already applied to convert their PPLs to Petroleum Mining Leases (PMLs) as provided by the PIA, and these applications are currently undergoing regulatory review.

It further explained that several of the licensees have met the minimum work programme requirements under Section 78 of the PIA, making them eligible for extensions, stressing that production start-up is not the only benchmark for compliance.

NUPRC urged media platforms to ensure factual and contextual reporting, in line with regulatory statutes. It reiterated its commitment to a transparent and inclusive regulatory regime that protects public interest and supports the sustainable development of Nigeria’s oil and gas resources.

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Jubril Adewale Tinubu: The Global Ascent of An Energy Titan

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Wale TinubuUnarguably, Jubril Adewale Tinubu, Group Chief Executive Officer, GCEO, Oando Plc, is one of the few who command a great deal of reverence in Nigeria’s vast and ever-evolving energy landscape.

To keen watchers of developments in the nation’s energy sector, Tinubu’s pedigree transcends more than being the  head honcho of Oando; he is the rare alchemy of audacity and foresight.

Today, his name has become synonymous with resilience and brilliance; he is also a figure whose influence transcends sectors, borders, and generations.

Interestingly, his reputation built on entrepreneurial flair and ingenuity has always earned him  worthy mention among an elite class of business leaders whose legacies are not just written, but engraved.

However, unlike some others who view Africa’s economic horizon through a haze of uncertainty, Tinubu sees opportunity beckoning to him always.

With this perspective, one easily understands Oando’s rise from a modest downstream operator to one of Africa’s most formidable integrated energy companies.

Oando, under the exemplary leadership and management style of Tinubu, has expanded across exploration, production, power, and renewables.

At every given opportunity, Tinubu hammers on the need for Africa to harness its own vast resources to define its destiny.

Given his trademark philosophy to act, tarry or strike with precision, he has been able to navigate Oando through global market shifts, regulatory waves, and economic downturns without so much noise.

Perhaps,this is the secret to his dazzling recognition and honour since the break of the outgoing year 2025. In January, he bagged the Investor / Transaction of the Year 2024 at the New Telegraph Awards in  Lagos.

The recognition followed Oando’s landmark $783 million acquisition of Agip Oil Company, a transaction completed in August 2024 and hailed as one of the year’s most significant moves in Nigeria’s economy.

But that was only a precursor to several other accolades for Tinubu, as he was again honoured with the prestigious Lifetime Awards at the Africa Energy Week, AEW, 2025.

Like the compass with which Oando navigates the nation’s unpredictable energy terrain, Tinubu is perpetually in quest of the opportunity to position the company as both a continental powerhouse and a symbol of African ingenuity.

Again, evidence that Tinubu’s influence has become global came to the fore when Oando emerged as the preferred bidder for the Trinidad refinery.

Despite a dip in revenue, Oando posted a $145 million profit in the first nine months of its 2025 fiscal year—a testament to disciplined strategy and Tinubu’s steady hand at the helm.

Meanwhile, the most significant signal of Oando’s next chapter came recently with an announcement that underscores Tinubu’s instinct for the future: Oando is diversifying into mining, with a sharp focus on lithium and other minerals critical to the clean-energy transition.

The company has already assembled a strong team of seasoned geologists and launched exploration activities across Nigeria, including a major program in Kebbi State. By the end of 2025, Oando aims to complete its field evaluations and identify a prime location for pilot lithium production.

With the global demand for rechargeable batteries—driven by tech and electric vehicles—skyrocketing, Tinubu is positioning Oando at the heart of the next energy revolution.

It is not for fun that his admirers fondly describe him as the man who sees tomorrow. He is a strategist sculpted by foresight, a leader driven by conviction, and a relentless believer in Africa’s potential.

In an age craving visionaries, Tinubu stands out- he is clear -eyed, bold, and prepared for the future he already sees taking shape.

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Energia launches graduate trainee programme to develop young professionals

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 Energia Limited launches a graduate trainee programme to accelerate career growth of young Nigerian professionals in the energy sector.

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Nigeria launches $10bn petroleum licensing round to boost production

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

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