50 Oil Blocs: Only Applicants With Strong Credentials Will Be Selected — NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that only applicants with strong technical and financial credentials will proceed to the critical stage of the 2025 bidding process for licensing round.

Speaking during a 2025 licensing round pre-bid webinar yesterday, the Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, said the process follows five steps: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.

Eyesan described the licensing round as an open call for committed partners; those ready to invest capital, bring technical excellence, and accelerate Nigeria’s assets from license award to exploration, appraisal, and ultimately, full production.

“Only candidates with strong technical and financial credentials, professionalism, and credible plans move forward. Winners are chosen through a transparent, merit-based procedure.”

Signature bonus slashed

The NUPRC boss noted that with the approval of President Bola Ahmed Tinubu, signature bonuses for the 2025 licensing round are now set within a value range that reduces entry barriers and places greater weight on what truly matters: technical capability, credible work programs, financial strength, and the ability to deliver production within the shortest possible time.

“This has been done to increase competitiveness and in response to capital mobility,” the CCE stated.

The NUPRC boss restated the Commission’s commitment to a transparent licensing round, insisting that Nigeria is “ready to be the beautiful bride to capital and playroom for advanced technological deployment for hydrocarbon recovery.”

She added, “In this licensing round, 50 oil and gas blocks across Nigeria are available, allowing investors to access the country’s key basins and create long-term value.”

Eyesan further assured the public that the bid process will comply with the Petroleum Industry Act, promote the use of digital tools for smooth data access and remain open to public and institutional scrutiny through the Nigeria Extractive Industries Transparency Initiative (NEITI) and other oversight agencies.

“Let me emphasise that the Nigeria 2025 Licensing Round is not merely a bidding exercise. It is a clear signal of a re-imagined upstream sector, anchored in the rule of law, driven by data, aligned with global investment realities, and focused on long-term value creation,” the NUPRC boss said.

During the webinar, subject matter experts from the NUPRC explained the guidelines, model contracts, bid parameters, and evaluation criteria in order to help investors navigate uncertainty and operate within a framework that is transparent, predictable, and deliberately designed to inspire confidence.

Eyesan said that since December 1, 2025, all licensing materials have been posted on the Commission’s portal, dedicated support channels created to enable prompt response to enquiries from applicants, noting that the pre-bid conference has provided an opportunity to clarify the requirements to promote a transparent, well informed participation process.

“To further strengthen the process, today’s Webinar, the first of its kind, aims to clarify bid requirements, and helps you participate effectively before the tender deadline as well. We also invite your questions and feedback to improve the licensing round process and outcomes.