NUPRC pledges transparency in 2025 Oil bid round

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has reiterated its dedication to transparent process for the 2025 Oil Bid Round.

Speaking at a Pre-Bid Webinar in Abuja on Wednesday, NUPRC Chief Executive Mrs Oritsemeyiwa Eyesan stated that the process is an opportunity for investors to participate in a stable, rule-based system that fosters genuine value creation.

The 2025 Licensing Round, launched on December 1, 2025, offers 50 oil and gas blocks across various terrains, including frontier, onshore, shallow water, and deepwater.

The process involves five steps: Registration, Pre-qualification, Data acquisition, Technical bid submission, and, Evaluation and Commercial Bid Conference.

Advertisement

“This has been done to increase competitiveness and a response to capital mobility. Only candidates with strong technical and financial credentials will move forward, chosen through transparent merit-based process.

“With President Bola Tinubu’s approval, signature bonuses have been adjusted to reduce entry barriers, prioritizing technical capabilities, credible programs, financial strength, and production delivery speed.

“The bid process will comply with the Petroleum Industry Act, PIA, 2021 and remain open to public scrutiny through partners like NEITI and other oversight agencies,” she said.

The Chief Executive further stressed that since December 1, 2025, all licensing materials have been posted on the Commission’s portal, and dedicated support channels have been created to address applicant inquiries.

Advertisement

“To further strengthen the process, today’s Webinar, the first of its kind, aims to clarify bid requirements, and help you, participate effectively before the tender deadline as well.

“We also invite your questions and feedback to improve the licensing round process and outcomes.

“Let me emphasize here that the Nigerian 2025 ‘Licensing Round’ is not merely a bidding exercise, it is a clear signal of a reimagined Upstream Sector, anchored on the rule of law, driven by data, aligned with global investment realities, and focused on long term value creation,” she added.