The Federal Government has announced that 13 of the 50 oil and gas blocks offered under the 2025 Licensing Round will be returned to the licensing basket. These blocks failed to attract bids from prospective investors during the exercise.
Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), made this disclosure on Tuesday at the 2025 Commercial Bid Conference in Abuja. She stated that while 50 blocks were initially put up for bid, only 37 received representations from interested parties.
Eyesan confirmed that the remaining 13 blocks would be returned to the basket. Despite this, the round saw significant interest, with 143 companies submitting approximately 200 bids for the available assets.
The NUPRC Chief Executive highlighted the initial strong interest, noting that almost 300 companies expressed interest when the journey began. This, in her view, indicated a renewed investor confidence in Nigeria’s upstream petroleum sector.
The number of interested companies was subsequently pruned down to 196 after the prequalification stage. These companies then advanced to the technical and commercial evaluation stages, with 143 ultimately participating in the commercial bid process.
Bidding Process Emphasizes Competence Over Price
The Federal Government reiterated that the highest financial bidder would not automatically secure an oil block in the 2025 Licensing Round. Technical competence and operational capability are set to play a decisive role in determining successful bidders.
Eyesan explained that the commission’s evaluation process was designed to ensure petroleum assets are awarded to companies capable of developing them. This approach prioritizes firms with the right capabilities over those simply submitting the highest financial offers.
She described the assessment process as rigorous, objective, and aimed at securing the best overall long-term value for Nigeria’s upstream petroleum sector. The team carefully assessed each bidder’s competence, experience, organisational and operational capacity, and the credibility of their proposed work programme.
This framework ensures that petroleum assets are awarded to investors possessing the financial strength, technical expertise, and operational capacity required to accelerate exploration and production in Nigeria’s upstream sector. It moves beyond mere financial offers to ensure sustainable development.
The 2025 Licensing Round was announced on November 11, 2025, in line with the Petroleum Industry Act 2021. The bid portal opened on December 1, 2025, followed by a pre-bid conference on January 14, 2026, in Lagos to guide prospective investors.
Registration and prequalification submissions closed on February 27, 2026, with the prequalification process completed on March 16. The 50 oil and gas blocks offered were spread across seven sedimentary basins, including 16 Niger Delta onshore blocks, 18 shallow water blocks, one deep offshore block, three blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin, and four in the Benue Trough.
