In a major push to revive its upstream sector, the government of Nigeria, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled a fresh licensing round offering 50 oil and gas blocks to investors. The 2025 bid round covers a mix of onshore, swamp/shallow-water, frontier and offshore terrains, including one deep-water block.
According to NUPRC’s boss, Gbenga Komolafe, the aim is to attract around $10 billion in new investments, with the potential to add 2 billion barrels of crude over the next decade, and eventually produce up to 400,000 barrels per day when the fields are fully operational.
Of the 50 blocks offered, 15 are on-land, 19 are shallow-water, 15 are frontier acreages, and one is deep-water. Developers with strong technical and financial capacity regardless of the age of the company may bid, in keeping with new, more transparent rules under the Petroleum Industry Act 2021.
In addition to boosting reserves and output, the licensing round is expected to stimulate government revenue, spur job creation, and strengthen gas utilisation in line with global energy-transition trends. Komolafe noted that the round also aims to deepen indigenous participation, improve transparency under international standards, and attract credible investors.
To make the offer more attractive, the NUPRC has lowered signature-bonus requirements and reprocessed extensive 2D and 3D seismic data to reduce exploration risk. This, the commission said, should accelerate the path from licensing to first oil or gas, and encourage participation by lowering entry costs.
The six-month licensing window opened on December 1, 2025 with guidelines and block data posted on the NUPRC’s portal. A two-stage bidding process ensures that only pre-qualified firms proceed to the commercial bid, promoting fairness and investor confidence.
If fully realized, the $10 billion investment could substantially boost Nigeria’s foreign-exchange inflows and government revenues, helping to stabilize the naira and reduce fiscal deficits. Increased crude output and gas utilisation may also attract associated infrastructure investment, boosting employment and supporting broader economic growth beyond the oil sector.
