Energy: Nigeria targets $10bn fresh investment, 2bn bpd in 2025 oil & gas bid round –NUPRC

*Engr. Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission says the 2025 round, covering 50 oil and gas blocks across onshore, shallow-water, frontier and deepwater terrains will help to reverse declining exploration activity, expand reserves, and boost national oil production when fully operational

Gbenga Kayode | ConsumerConnect

The Federal Government has activated an ambitious strategy to attract about $10 billion in fresh oil and gas investments, and exploit about two billion barrels of crude oil reserves through the newly commenced Nigeria 2025 Petroleum Licensing Round.

ConsumerConnect reports Engr. Gbenga Komolafe, Chief Executive Officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said this Monday, December 1, 2025, at the unveiling of the six-month-long bid round, in Abuja, FCT.

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Komolafe said the exercise, covering 50 oil and gas blocks across onshore, shallow-water, frontier and deepwater terrains, would help to reverse the apparently declining exploration activity, expand reserves, and boost national production in the petroleum sector of the economy.

He also noted the ongoing round has marked a major step in the West African country’s push to revitalise exploration and boost long-term production capacity.

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The CEO of NUPRC said the energy sector regulatory Commission had unveiled detailed guidelines on its portal at: br2025.nuprc.gov.ng, and adopted a two-stage bidding process designed to guarantee credibility, investor confidence and fairness as prescribed by Section 73 of the Petroleum Industry Act 2021.

Komolafe stated: “The Nigerian Upstream Petroleum Regulatory Commission is proud to formally announce the commencement of the Nigeria 2025 licensing round and the launch of the licensing round online portal br2025.nuprc.gov.ng.

“This announcement is in line with Section 73 of the Petroleum Industry Act, 2021, which prescribes a fair, transparent and competitive bidding process.”

He explained: “Further to this, the NUPRC, following the gracious approval of President Bola Ahmed Tinubu, GCFR, has listed 50 oil and gas blocks across onshore, swamp/shallow water and offshore terrains spanning diverse basins.

“Of these 50 blocks, 15 are onshore assets; shallow water 19; frontier 15, and 1 deep water asset.”

According to the Chief Executive of the Commission, the 2025 round is expected to significantly deepen upstream activity over the next decade, with projections indicating that the awarded blocks could collectively deliver as much as 400,000 barrels per day (bpd) when they become fully operational.

Komolafe averred: “The Nigeria 2025 licensing round is, therefore, expected to attract about $10 billion in investments and add up to 2 billion barrels of oil output over the next 10 years with an estimated 400,000 barrels per day of production volumes when the blocks are fully operational.”

Transparency, he noted, has remained central to the 2025 bid round, which will run for six months.

It is equally noted that the 2025 round would build on the gains of the 2024 licensing round, as the NUPRC has introduced digital platforms, automated workflows, and improved data access to fast-track the bid process.

As regards the modus operandi of this year’s bid process, the Commission said the procedure begins with a qualification stage, where applicants or their consultants must submit extensive documentation for evaluation.

The Commission, however, stated that only shortlisted firms would proceed to the bid stage, where they would sign confidentiality agreements and submit both technical cum commercial proposals.

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