NUPRC Shortlists Bidders for Upcoming Nigerian Oil Licenses

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has moved forward with the nation’s 2025 oil and gas licenses issuance by shortlisting pre-qualified bidders for the competitive phase. This is an important step toward attracting new upstream investment and opening up exploration opportunities across Nigeria’s sedimentary basins.

On Tuesday, Eniola Akinkuotu, Head of Media and Strategic Communication at NUPRC, announced that the pre-qualification process has been completed and successful applicants have been informed.

“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) wishes to inform the public that it has completed the pre-qualification stage of the 2025 Licensing Round and has notified successful pre-qualified applicants accordingly,” the statement noted. This milestone was achieved on March 16, 2026, in line with the 2025 Licensing Round Guidelines.

The guidelines for this licensing round state that only entities meeting strict technical, financial, legal, and environmental criteria can enter the competitive bid stage. This approach aims to ensure that only serious and capable investors participate in Nigeria’s upstream sector.

Next Phase: Data Leasing and Bid Preparation

With the oil licenses pre-qualification stage completed, the Commission has allowed successful bidders, starting March 17, 2026, to access necessary subsurface geological and geophysical data to create competitive technical and commercial bids.

The regulator emphasized strict controls on data access. Applicants must obtain subsurface datasets only from approved sources and must upload proof of data lease payments before they can submit bids. This requirement aims to enhance transparency and discourage speculative applications without real investment intentions.

Analysts see these measures as a sign that the Commission is committed to good governance, transparency, and fairness in the licensing process. These values have become essential in Nigeria’s upstream licensing reforms under the Petroleum Industry Act (PIA) 2021.

50 Blocks on Offer Across Nigeria’s Basins

The 2025 licensing round launched in December 2025 with presidential approval. It offers 50 oil and gas blocks across a variety of terrains. They include mature onshore fields, shallow waters, frontier basins, and deepwater areas.

• The licensing round focuses on major sedimentary basins like the Niger Delta, Anambra, Bida, Benue Trough, and Chad Basins.
• Blocks include 15 onshore assets, 19 shallow water sectors, 15 frontier basins, and one deepwater tract.

At its launch, NUPRC estimated that this round could attract over $10 billion in foreign direct investment. It will increase Nigeria’s recoverable reserves by about 2 billion barrels and boost production capacity in the future.

Bidding, Evaluation and Strategic Importance

Once pre-qualified bidders have secured and reviewed critical subsurface data. They will prepare technical and commercial bids for electronic submission through the Commission’s licensing portal. This digital framework is part of the 2025 round.

The Commission will evaluate successful bids based on criteria such as financial competitiveness, technical capability, investment plans, and commitments to local content and community engagement before announcing final awards.

Experts believe that the outcome of this round could significantly impact upstream activity and restore investor trust in Nigeria’s oil and gas sector. Especially as it has faced declining output in recent years.

Key Facts at a Glance – NUPRC 2025 Licensing Round

• Pre-qualification completion: March 16, 2026.
• Data leasing and bid preparation begins: March 17, 2026.
• Blocks offered: 50 across multiple geologic basins.
• Investment target: Approximately $10 billion.
• Legal framework: Governed by 2025 Licensing Round Guidelines under PIA.

For further inquiries or access to official documents, journalists and stakeholders should consult the NUPRC licensing portal and the Commission’s published guidelines.