Nigeria’s oil blocks licensing exercise recorded a mixed outcome after the Federal Government announced that 13 oil and gas blocks offered during the 2025 Licensing Round failed to attract investor bids and would be returned to the national licensing pool. The announcement was made during the 2025 Commercial Bid Conference in Abuja by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan.
According to Eyesan, the government placed 50 oil and gas assets on offer across several sedimentary basins during the licensing exercise. However, investor interest was secured for only 37 blocks, leaving 13 without successful bids. She explained that the unallocated assets would now be returned to the national licensing basket for possible future licensing opportunities. Despite the outcome, Eyesan described the exercise as successful overall, citing the strong level of participation recorded throughout the bidding process.
The NUPRC disclosed that nearly 300 companies initially indicated interest in the oil blocks licensing programme before the prequalification process narrowed the field.
Following screening, 196 companies qualified to proceed, while 143 firms eventually participated in the commercial bidding stage, collectively submitting approximately 200 bids for the available assets. The commission noted that the level of participation reflected sustained investor confidence in Nigeria’s upstream petroleum sector despite global industry challenges.
The 2025 Licensing Round, introduced under the Petroleum Industry Act (PIA) 2021 and announced in November 2025, offered exploration opportunities across seven sedimentary basins. The available assets comprised: 16 onshore blocks in the Niger Delta, 18 shallow water blocks, one deep offshore block, three blocks in the Benin Basin, four blocks in the Anambra Basin, four blocks in the Chad Basin, four blocks in the Benue Trough
The application portal opened in December 2025, while a pre-bid conference was held in January 2026. Registration and prequalification concluded in February before technical and commercial evaluations were completed in March.
The commission explained that successful participants were evaluated using a weighted assessment system that considered several factors, including signature bonus commitments, technical capability, financial strength, proposed work programmes and performance guarantees. Officials said the approach is designed to ensure that exploration assets are awarded to investors capable of accelerating oil and gas development while supporting increased production across Nigeria.
Although 13 assets attracted no bids during the latest exercise, the Federal Government maintains that the oil blocks licensing programme continues to attract significant industry interest and remains central to efforts aimed at expanding exploration and boosting long-term investment in the country’s petroleum sector.
