The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to auction 50 oil and gas blocks spanning multiple basins and terrains as part of its 2025 petroleum licensing initiative approved by President Bola Tinubu.

The licensing round, scheduled to kick off December 1, will feature acreage across onshore, shallow water, and deepwater locations, the commission announced Friday. The move represents a significant push to attract fresh capital into Nigeria’s upstream petroleum sector under the framework established by the Petroleum Industry Act (PIA) 2021.

According to the commission, the blocks are distributed across several diverse basins, offering potential investors a range of exploration and development opportunities. Comprehensive guidelines, eligibility criteria, and detailed block data will be made available through a dedicated licensing portal when it goes live.

“The Licensing Round is a key component of the Commission’s mandate under the PIA to enhance Nigeria’s upstream development, attract investment, and expand national hydrocarbon reserves,” NUPRC stated.

The regulator has scheduled a pre-bid conference for December 17 in Lagos, providing prospective bidders an opportunity to engage directly with commission officials and clarify participation requirements.

To broaden international participation, NUPRC will conduct promotional roadshows across major energy capitals. The agency plans events in Dubai on January 5, 2026, Singapore on January 8, Houston on January 19, and Beijing on January 12, targeting investors in key markets with substantial capital deployment capacity in oil and gas ventures.

The commission emphasized its commitment to conducting a transparent and competitive bidding process, stating it seeks partnerships with entities that demonstrate “dedication to excellence, safety, and environmental stewardship.”

Interested parties can access full licensing details, including participation instructions and block descriptions, through the commission’s official website at www.nuprc.gov.ng and the dedicated licensing portal at br2025.nuprc.gov.ng once launched.

The initiative comes as Nigeria seeks to reverse declining crude oil production and attract the billions of dollars in investment needed to develop its estimated 37 billion barrels of proven oil reserves and 209 trillion cubic feet of natural gas reserves. Industry observers note that successful execution of the licensing round could signal renewed investor confidence in Nigeria’s petroleum sector following years of divestments by international oil companies.

NUPRC expressed optimism about stakeholder participation and the potential impact of the licensing round on Nigeria’s position in the global energy landscape. (BusinessDay)