Eyesan Assures Investors of Transparency, Merit in Oil Licensing Bid

By Adedapo Adesanya

The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assured investors of a transparent, merit-based and competitive process for Nigeria’s 2025 oil and gas licensing round.

Mrs Eyesan, gave the assurance on Wednesday while speaking at a Pre-Bid Webinar organised by the commission, noting that only applicants with strong technical, financial credentials, professionalism and credible plans would proceed to the critical stage of the bidding process.

The NUPRC in December 1, 2025 inaugurated Nigeria’s 2025 Licensing Bid Round, offering 50 oil and gas blocks across frontier, onshore, shallow water, and deepwater terrains for potential investors.

The basins included Niger Delta basin, with 35 blocks, Benin (Frontier) with three blocks, Anambra (Frontier), with four blocks, Benue (Frontier), with four blocks and Chad (Frontier) with four blocks on offer.

Mrs Eyesan explained that the licensing process would follow five stages: Registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference, with only bidders that meet strong technical and financial criteria progressing.

The NUPRC executive said the 2025 Licensing Round represented a deliberate effort by Nigeria to reposition its upstream petroleum sector for long-term investment, transparency, and value creation, amid increasing global competition for capital.

She said that energy security and supply resilience had become key global economic and geopolitical priorities, while investment capital was increasingly selective and disciplined.

“Our national priority is clear: to attract capital, grow reserves, and improve production in a responsible and sustainable manner.

“A structured and transparent licensing round is essential to achieving these objectives.

“The NUPRC is legally mandated to conduct licensing rounds in a periodic, open, transparent, and fully competitive manner and the entire 2025 process will be governed strictly by published rules,” she said.

The official further revealed that, with the approval of President Bola Tinubu, signature bonuses for the 2025 round have been set within a range designed to lower entry barriers and prioritise technical capability, credible work programmes, financial strength, and speed to production.

She emphasised that the bid process will fully comply with the Petroleum Industry Act (PIA) and remain open to public and institutional scrutiny through the Nigeria Extractive Industries Transparency Initiative (NEITI) and other oversight agencies.