Nigeria's 2025 Oil Licensing Round – 31 firms win 37 blocks, 13 blocks returned

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) held the commercial bid conference for its 2025 licensing round on 21 July 2026 in Abuja. Launched in November 2025 under the Petroleum Industry Act, the round attracted 143 companies that submitted roughly 200 bids for 50 oil and gas blocks covering the Niger Delta (16 on‑shore, 18 shallow‑water, 1 deep offshore) and the Benin, Anambra, Chad basins and the Benue Trough.

Bids were received for 37 of the 50 blocks; the remaining 13 blocks were returned to the licensing pool. After evaluation, 31 firms were announced as winners of the 37 blocks. Winners must pay the signature bonus, comply with the PIA and meet a 90‑day deadline to fulfil post‑award obligations or lose the assets. As Commission Chief Executive Oritsemeyiwa Eyesan said, “A winning bidder that fails to fulfil the prescribed conditions within 90 days of receiving its offer letter will lose its entitlement to the asset.” The commission also warned that failure to develop the assets could trigger the “drill‑or‑drop” provision. The round is expected to add about 500 million barrels to reserves and help Nigeria reach its target of 3 million bpd by 2030.