The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has kicked off the bidding process for 50 oil and gas blocks across five sedimentary basins, insisting that only firms with solid technical expertise and financial capacity will be considered in the 2025 licensing round.
The Commission said the licensing exercise is designed to weed out speculative bidders and reposition Nigeria’s upstream oil and gas sector as a transparent, competitive and investment-friendly destination.
Speaking during the 2025 Licensing Round pre-bid webinar on Wednesday, NUPRC Chief Executive Oritsemeyiwa Eyesan said the bid round should be seen as a strategic move to grow Nigeria’s reserves, boost crude oil production and enhance energy security in a changing global energy environment.
“The upstream sector is serious business and requires long-term commitment,” Eyesan said. “This process is an open invitation to partnership, transparency and shared responsibility as we work to shape the future of Nigeria’s oil and gas industry.”
She explained that the Commission had adopted a merit-based selection framework, with technical competence, financial strength and credible development plans forming the core of the evaluation.
“Only candidates with strong technical and financial credentials, professionalism and realistic work programmes will advance. The process is transparent and designed to take winners from award through exploration and appraisal to full production,” she said.
According to Eyesan, the 50 oil and gas blocks on offer are located in five of Nigeria’s seven sedimentary basins, providing opportunities in both frontier and mature terrains.
She added that the commercial terms of the licensing round had been reviewed, with the approval of President Bola Tinubu, to strike a balance between lowering entry barriers and discouraging unserious participation.
As part of the review, signature bonuses have been set within a $3 million to $7 million range, while greater emphasis has been placed on technical capability, quality of work programmes and speed to production rather than high cash bids.
“This structure reflects global capital mobility and Nigeria’s need to remain competitive in attracting serious investors who can deliver production quickly and sustainably,” Eyesan said.
She noted that the licensing round would follow a five-stage process, including registration and pre-qualification, data access, technical bid submission, evaluation and a commercial bid conference.
Eyesan stressed that the entire process would be conducted in strict compliance with the Petroleum Industry Act (PIA) 2021, with digital platforms deployed to ensure transparency and public accountability.
“All licensing materials have been available on our portal since December 1, 2025, and the process will remain open to public and institutional scrutiny through NEITI and other oversight bodies,” she said.
Providing technical details, Amber Ndoma-Egba, Director of Lease Administration, Exploration and Acreage Management at NUPRC, said the blocks cut across the Chad Basin, Benue Trough, Anambra Basin, Bida Basin and the Niger Delta Basin.
He said technical evaluation would assess bidders’ subsurface understanding, exploration work programmes, development and production concepts, sustainability plans, decarbonisation goals and host community strategies.
“Technically weak companies will not scale through. We expect bidders to clearly demonstrate how they intend to explore, develop and produce from the blocks within the approved timelines,” Ndoma-Egba said.
He disclosed that a minimum work performance security of one per cent had been approved to support investment, although bidders could increase the amount to improve their technical scores.
Ndoma-Egba added that bidders must outline their exploration plans within the initial exploration period of three years for onshore assets and five years for deepwater and frontier blocks, noting that final winners would be selected based on a weighted combination of technical and commercial scores in line with the PIA.
The NUPRC had earlier announced the commencement of the 2025 petroleum licensing round on December 1, 2025, with the government targeting up to $10 billion in new upstream investments from the exercise.