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NUPRC Launches 2025 Licensing Round to Attract Fresh Investment in Oil Sector

Abuja, Nigeria – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday announced the commencement of its 2025 licensing round, aimed at attracting additional investment into the country’s oil and gas sector. The new licensing round will begin on December 1, 2025.

Commission Chief Executive (CCE) Gbenga Komolafe made the announcement at the NUPRC’s ‘Project 1MMBOPD’ Additional Production Investment Forum held in London, United Kingdom, according to a statement by the commission’s Head of Media and Strategic Communication, Eniola Akinkuotu.

The 2025 bid round is designed not only to bring fresh capital into the upstream oil and gas sector but also to enhance government revenue, reshape the structure of players in the industry, particularly as foreign oil companies continue to divest, and strengthen the implementation of the Petroleum Industry Act (PIA).

Officials said the transparent bidding process will also serve as a test of the effectiveness of the new regulatory framework under the PIA, which, if well managed, could significantly boost investor confidence and drive sustainable growth in Nigeria’s oil sector.