The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced it will officially open the country's 2025 oil licensing round on December 1, a move industry experts are calling a significant step toward revitalizing Nigeria's oil and gas sector.
A New Era of Transparency and Investment
The Energy Governance Alliance (EGA) has praised the decision, describing it as a bold statement of confidence in Nigeria's upstream potential. According to Dr Kelvin Sotonye William, Executive Director of EGA, this licensing round represents more than just opening new oil blocks—it marks the beginning of a new chapter characterized by transparency and accountability in Nigeria's petroleum industry.
The upcoming exercise is expected to attract global exploration and production companies through a transparent, competitive framework that aligns with the Petroleum Industry Act (PIA). Industry players consider this one of the most ambitious policy efforts under President Bola Tinubu's administration aimed at restoring investor confidence and expanding Nigeria's crude oil production capacity.
Reforms Under Komolafe Showing Results
EGA specifically commended Engr. Gbenga Komolafe, Chief Executive of NUPRC, for his reform-driven leadership that has brought renewed discipline and efficiency to the sector. The group noted that under Komolafe's guidance, the commission has evolved into the modern, independent regulator envisioned by the PIA—one that enables business rather than obstructs it.
The strategic decision to unveil the licensing round in London was described as both symbolic and practical, demonstrating Nigeria's commitment to re-engaging international investors directly. EGA emphasized that by meeting investors where they are and presenting a transparent investment case, NUPRC is effectively rebuilding trust that was eroded by years of policy inconsistency.
Measurable Progress and Future Outlook
Dr William highlighted several key achievements under the new regulatory clarity, including the approval of 46 field development plans in 2025, an active rig count exceeding 60, and production levels reaching 1.83 million barrels per day. These statistics, he noted, provide concrete evidence that the ongoing reforms are yielding positive results.
EGA has urged the federal government to maintain consistent policy implementation and stakeholder engagement to support the Commission's reform initiatives. The alliance expressed confidence that if this momentum continues, Nigeria has the potential to exceed two million barrels per day production and advance toward its goal of building a $1 trillion economy.
With the December 1 launch approaching, industry watchers are closely monitoring how this transparent approach to oil block allocation will position Nigeria in the competitive global energy market and whether it will indeed mark the turning point in attracting substantial foreign investment back to the country's oil and gas sector.
