By Obiabin Onukwugha
The Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has stated that 50 oil and gas blocks are available across Nigeria for bidding and exploration. This, according to Eyesan creates opportunity for investors to access the country’s key basins and create long-term value.
Eyesan revealed this during the 2025 licensing round pre-bid webinar, on Wednesday. She said only bidders with high technical and financial credentials, professionalism, and credible plans will advance in the process.
Recall that the NUPRC announced the official commencement of the 2025 petroleum licensing round, last December, targeting about $10 billion in new investments.
She said the aim of the webinar which is first of its kind, is to further strengthen the bidding process and clarify bid requirements, and also help bidders participate effectively before the tender deadline.
The NUPRC CCE explained that the pre-bid conference also offers a chance to clarify requirements and foster a transparent, well-informed participation process. Eyesan also mentioned that the process is being carried out in line with the Petroleum Industry Act, PIA.
“Let me restate clearly that the bid process will comply with the PIA 2021, promote use of digital tools for smooth data access, and remain open to public and international and institutional scrutiny through partners like NEITI and other oversight agencies,” she said..
While encouraging bidders to seek clarification where necessary, Eyesan emphasised that “the Nigerian 2025 licensing round is not merely a bidding exercise but signals a reimagined upstream sector grounded in the rule of law, guided by data, aligned with global investment standards, and focused on creating long-term value.”
“Only candidates with high technical and financial credentials, professionalism and credible plans move forward. Winners are chosen through a transparent merit-based process
“So as we move through today’s session, I want you to view this round not just as an offering of acreage, but as an opportunity to participate in a stable rules-based system that is opening the door to genuine value creation.
“Distinguished participants, the licensing round is an open call for committed partners, those ready to invest, bring technology, and accelerate Nigeria’s assets from licence award to exploration, appraisal and ultimately full production.
“The process follows five steps: registration, pre-qualification, data acquisition, technical bid submission, evaluation, and commercial bid conference,” the CCE said.
Eyesan stated that with the approval of President Bola Tinubu, signature bonuses for the 2025 bid round have been set within a range that lowers entry barriers and places greater weight on the most important criteria.
She added that the bid round also focuses on technical capabilities, credible work programme, financial strength, and ability to deliver production within the shortest possible time. “This has been done to increase competitiveness and a response to capital mobility,” the CEO stated
