NUPRC opens bidding for 50 oil and gas blocks
The NUPRC has opened the commercial bidding stage for its 2025/2026 licensing round, with 200 bids submitted for 50 oil and gas blocks across the country.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) opened the commercial bidding stage for its 2025/2026 licensing round on July 21. A total of 143 prequalified companies submitted 200 bids competing for 50 oil and gas blocks across various geological terrains, including the Niger Delta, Chad Basin and Benue Trough. The licensing drive forms part of the government’s strategy to attract fresh capital and stimulate exploration beyond traditional fields.
The licensing round is the most significant in Nigeria’s recent history. The government is seeking to attract investment into the oil and gas sector, which has struggled with underinvestment and declining production. The bidding round covers blocks in both mature and frontier basins, offering opportunities for both established and new players.
This echoes the 2005 licensing round, which also attracted significant interest. The mechanism then was different, but the result was the same: a government seeking to attract investment into the oil and gas sector.
The winners: the companies that secure the blocks; and the Nigerian government, which gains revenue from the licensing fees. The losers: the companies that do not win bids; and the Nigerian public, which must hope that the investment translates into jobs and revenue.
Bottom Line: Nigeria is offering 50 oil and gas blocks for bidding. The interest is strong. The question is whether the investment will materialise or remain on paper.