Nigeria's NNPC opens bids for oil and gas asset stakes

NNPC Limited has launched a bidding process to sell stakes in various oil and gas assets. Interested parties must register online by January 10, 2026. The selection process will involve pre-screening based on technical and financial capacity, followed by document evaluation, negotiations, and regulatory approvals.

While the specific amount to be raised has not been disclosed, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) suggests the government intends to reduce its stake in joint venture assets by approximately 30 to 35 percent to generate cash for other sectors. These assets include partnerships with international companies such as Shell, Chevron, and Eni.

Separately, following the 2025 Nigerian oil and gas licensing round, winners of 37 oil and gas blocks have begun paying signature bonuses. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that 31 companies emerged as winners during the commercial bid conference in Abuja last month. The commission warned that failure to meet payment deadlines will result in the forfeiture of bid guarantees and provisional awards.