Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
Abuja, Nigeria — Thirty-one companies have emerged as successful bidders for 37 oil and gas blocks offered during Nigeria's 2025 Licensing Round, marking a significant milestone in the Federal Government's efforts to attract fresh investment into the country's upstream petroleum sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the outcome on Tuesday following the commercial bid conference held in Abuja. The exercise attracted widespread interest from both indigenous and international investors, with 143 companies participating in the bidding process and submitting a total of 200 commercial bids.
The 37 awarded blocks were selected from the 50 oil and gas blocks initially offered by the commission. The assets are spread across Nigeria's onshore, shallow water and deep offshore terrains, as well as several frontier basins, including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin.
According to the commission, while 37 blocks attracted successful bids, 13 blocks did not receive any commercial offers during the exercise. Officials described the outcome as a major achievement, noting that the licensing round generated significant investor interest, particularly in frontier basins that have historically received limited commercial attention.
The licensing round forms part of the Federal Government's broader strategy to increase crude oil production, boost natural gas development, expand proven hydrocarbon reserves and attract new capital into Nigeria's oil and gas industry under the Petroleum Industry Act (PIA) 2021.
Speaking after the exercise, the Commission Chief Executive of the NUPRC, Engr. Gbenga Komolafe, said the successful completion of the commercial bidding process reflects growing investor confidence in Nigeria's petroleum sector following recent regulatory reforms.
He explained that the entire exercise was conducted through a transparent, competitive and technology-driven process designed to ensure fairness, accountability and equal opportunities for all qualified participants.
Komolafe noted that the licensing round is expected to stimulate fresh exploration activities, encourage greater investment in oil and gas development, create employment opportunities, facilitate technology transfer and strengthen indigenous participation across the upstream sector.
He added that the exercise aligns with Nigeria's long-term objective of unlocking the country's vast hydrocarbon resources while improving energy security and increasing government revenue.
The NUPRC launched the 2025 Licensing Round in December 2025 as part of efforts to accelerate exploration and production activities across both established producing areas and underexplored frontier basins with significant hydrocarbon potential.
Industry analysts say the strong participation recorded during the exercise reflects renewed confidence in Nigeria's investment climate following the implementation of the Petroleum Industry Act, which introduced reforms aimed at improving transparency, regulatory certainty and investor protection.
They also note that although the commercial bidding phase has been concluded, the successful companies must still satisfy all regulatory, financial and technical requirements, including the payment of signature bonuses and other statutory obligations, before Petroleum Prospecting Licences are formally issued.
The regulator expects the newly awarded oil and gas blocks to attract substantial investments over the coming years, leading to increased exploration activities, higher crude oil and natural gas production, expanded government revenue and greater economic opportunities across the petroleum value chain.
Officials believe the development will also contribute to Nigeria's broader energy transition objectives by encouraging increased investment in natural gas development while strengthening the country's position as one of Africa's leading energy producers.
With the commercial bidding process now completed, the NUPRC is expected to proceed with the remaining stages of the licensing exercise before formally awarding Petroleum Prospecting Licences to the successful companies.
The successful conclusion of the 2025 Licensing Round represents another major step in Nigeria's ongoing efforts to reposition its upstream petroleum industry as a globally competitive destination for investment while maximising the economic benefits of its vast oil and gas resources.
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