The Nigerian government has unveiled an ambitious plan to lease 50 oil blocks to investors, targeting a massive $10 billion in investment and an increase in daily crude oil production by 400,000 barrels. The announcement was made on Monday, December 1, 2025, by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Details of the 2025 Licensing Round
Gbenga Komolafe, the Chief Executive of NUPRC, detailed the offer at a press event. The blocks on offer comprise 15 onshore assets, 19 shallow water blocks, 15 frontier assets, and 1 deepwater block. This initiative is part of the Commission's mandate under the Petroleum Industry Act (PIA) to conduct annual licensing rounds, aimed at expanding investment, strengthening transparency, and deepening exploration activities.
Komolafe highlighted the success of previous rounds, noting that the 2024 Licensing Round was completed without any litigation, a testament to its transparent and competitive process. For the 2025 round, the Commission has launched a dedicated bid portal: br2025.nuprc.gov.ng.
Boosting Reserves and Investor Confidence
With Presidential approval secured, the 2025 round is projected to significantly bolster Nigeria's economy. Komolafe stated the round is expected to add up to 2 billion barrels to national oil reserves over the next decade. Beyond production, the initiative aims to expand gas utilisation, create thousands of jobs across the value chain, and enhance indigenous participation in the sector.
To attract greater investment, the NUPRC has reduced signature bonuses to around N200 million. Furthermore, the Commission has undertaken extensive multi-client surveys and reprocessed thousands of kilometres of 2D and 3D seismic data. This effort is designed to de-risk exploration by providing the highest-quality subsurface imagery in Africa, which reduces uncertainty, lowers entry costs, and accelerates the time to first oil or gas.
A Transparent and Digital Bidding Process
Reinforcing its commitment to transparency, the regulator has introduced a fully digital, two-stage bidding process. The first stage is a qualification stage, where interested parties submit applications for evaluation. Only those adjudged qualified and shortlisted will proceed to the next phase, after executing a Confidentiality Agreement.
The second stage is the bid submission stage, where shortlisted applicants submit their Technical and Commercial Bids. Komolafe emphasized that the entire process will be automated and digital, with winners emerging from the commercial bid round. Detailed guidelines for the process are available on the NUPRC's website.
This strategic move by the NUPRC underscores Nigeria's determination to harness its hydrocarbon resources efficiently, attract vital foreign investment, and secure its position as a leading player in the global energy market.
