The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced December 1, 2025, as the official date for the next round of oil bloc licensing, marking a major step in Nigeria’s efforts to attract new investors into the upstream oil sector.

The announcement was made in London by NUPRC’s Chief Executive, Gbenga Komolafe, during the Project 1MMBOPD Additional Production Investment Forum. He said the exercise has received full approval from President Bola Ahmed Tinubu and the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri.

Komolafe noted that the licensing round is being conducted in line with the Petroleum Industry Act (PIA), which emphasizes transparency, fairness, and competitiveness in the allocation of exploration assets.

According to him, Nigeria is committed to creating an enabling investment climate to encourage both local and international participation in the oil and gas industry. “We are ready to begin the 2025 licensing round from December 1, following the minister’s approval in compliance with the PIA,” he said.

He also highlighted that past challenges in the sector were largely due to fragmented operations and weak collaboration among stakeholders. To address this, Komolafe said the Commission is now working closely with industry players, investors, and financial institutions to build a more unified and transparent investment framework.

“The NUPRC recognises the importance of bringing all stakeholders together. We’re engaging banks, energy companies, and regulators to ensure effective collaboration,” he added.

The fresh licensing round is part of broader reforms aimed at raising Nigeria’s crude oil production to one million barrels per day in the short to medium term. The initiative also seeks to enhance regulatory efficiency, promote investment inflow, and strengthen Nigeria’s position as one of Africa’s leading oil producers.