The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says participation in the 2025 petroleum licensing round will be limited to companies that can demonstrate strong technical capacity, financial strength, and clearly defined development plans.
Speaking during a pre-bid webinar for the licensing round on Wednesday, NUPRC chief executive officer Oritsemeyiwa Eyesan said the process is designed to reward seriousness, competence, and the ability to deliver results within a short time frame.
According to her, companies will be assessed strictly on merit, with only qualified bidders progressing through the stages of the exercise. She stressed that winners would emerge through a transparent and competitive evaluation process.
Eyesan disclosed that 50 oil and gas blocks are on offer across Nigeria’s major basins, presenting what she described as a strategic opportunity for investors seeking long-term value in the upstream sector.
She explained that the licensing round goes beyond awarding acreage, noting that it is aimed at attracting partners ready to deploy capital, technology, and expertise to move assets from licence award to full production.
The bid process, she said, will involve registration, pre-qualification, data access, technical bid submission, evaluation, and a commercial bid conference.
With President Bola Tinubu’s approval, Eyesan said the government has adjusted signature bonuses for the 2025 round to make entry more accessible, while shifting emphasis to technical competence and credible work programmes rather than upfront payments alone.
She added that the commission is responding to global capital competition by prioritising investors capable of fast-tracking production and sustaining output.
The NUPRC boss assured participants that the entire process would comply fully with the Petroleum Industry Act (PIA) 2021 and be subject to both local and international oversight, including monitoring by transparency agencies such as NEITI.
She noted that all licensing materials have been available on the commission’s portal since December 1, 2025, alongside dedicated support channels to address bidders’ enquiries.
Eyesan described the 2025 licensing round as a signal of a restructured upstream sector anchored on clear rules, digital processes, and global investment standards.
The commission officially launched the licensing round in December, targeting about $10 billion in fresh investments. It later announced that signature bonuses had been reduced to a range of $3 million to $7 million to improve competitiveness.
