The Nigerian government has unveiled plans to auction approximately 50 oil and gas exploration blocks in what industry experts are calling the country's most significant upstream offering in recent years. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that the bidding process will officially commence on December 1, 2025, following presidential approval from President Bola Tinubu.
Massive Investment Opportunity Across Multiple Terrains
This landmark licensing round encompasses blocks distributed across various geological formations, including onshore locations, shallow-water zones, and deepwater territories. The diverse portfolio reflects Nigeria's strategic approach to diversifying investment opportunities while stimulating fresh exploration activities in previously underdeveloped areas.
The entire licensing exercise will operate under the regulatory framework established by the Petroleum Industry Act (PIA) of 2021, which comprehensively reformed Nigeria's upstream petroleum sector. This legislation provides clear guidelines for investor participation, governance protocols, and fiscal terms throughout the bidding and development process.
Global Roadshow Campaign to Attract International Capital
To generate substantial international interest, NUPRC is launching an extensive global engagement campaign targeting major energy investors worldwide. The commission will host an initial pre-bid conference in Lagos on December 17, providing industry stakeholders with comprehensive asset previews and procedural details.
The international promotional tour will subsequently visit key global energy hubs, beginning with Dubai on January 5, 2026, followed by sessions in Singapore on January 8, Beijing on January 12, and concluding in Houston on January 19. These roadshows will present detailed technical specifications, legal requirements, and the government's strategic vision for attracting high-caliber global operators.
Transparency and Operational Excellence as Core Principles
Commission officials have emphasized that the licensing round represents a crucial step toward increasing Nigeria's oil reserves while attracting substantial new investments to the upstream segment. Beyond mere revenue generation, the government is prioritizing operators who can demonstrate proven capabilities in safety protocols, operational excellence, and environmental management standards.
The selection process will incorporate competitive evaluation methods and technology-driven assessment criteria to ensure transparency and fairness. According to industry reports, these rigorous standards will significantly influence how awarded blocks are developed and operated throughout their lifecycle.
Under the leadership of Engr. Gbenga Komolafe, NUPRC has received commendation from various stakeholders, including the Renewed Hope Ambassadors Network (RHAN), for effectively implementing petroleum sector reforms and creating a more investment-friendly regulatory environment.
