The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified the requirements for the 2025 licensing round, stating that only bidders meeting the technical and financial criteria will advance from the pre-qualification stage.
The NUPRC chief executive, Oritsemeyiwa Eyesan, provided details during a pre-bid webinar on Wednesday.
She outlined the process in five stages: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.
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Last December, the NUPRC opened bidding for 50 oil and gas blocks, targeting $10 billion in investment. Of these 50 blocks, the commission said 15 are onshore, 19 are shallow-water, 15 are frontier, and 1 is a deep-water asset.
At the time, the commission said the bidding would add 2 billion barrels of oil output over the next decade.
Eyesan said, "The process follows five steps: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference. Only candidates with strong technical and financial credentials, professionalism, and credible plans move forward. Winners are chosen through a transparent, merit-based procedure.
"The round offers 50 oil and gas blocks across Nigeria's key basins.
Eyesan noted that President Bola Ahmed Tinubu approved signature bonuses at reduced levels to lower entry barriers and emphasise technical capability, work programmes, financial strength, and production timelines.
"This has been done to increase competitiveness and in response to capital mobility," she stated.
The commission described the process as compliant with the Petroleum Industry Act, incorporating digital tools for data access and oversight by the Nigeria Extractive Industries Transparency Initiative (NEITI) and other agencies.
Eyesan added: "Let me emphasise that the Nigeria 2025 Licensing Round is not merely a bidding exercise. It is a clear signal of a re-imagined upstream sector, anchored in the rule of law, driven by data, aligned with global investment realities, and focused on long-term value creation."
Webinar participants heard from NUPRC experts on guidelines, model contracts, bid parameters, and evaluation criteria.
She assured that the bid process will comply with the Petroleum Industry Act (PIA) 2021, promote the use of digital tools, and remain open to public scrutiny.
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"Let me state clearly that the bid process will comply with the PIA 2021, promote the use of digital tools for smooth data access and remain open to public, international and institutional scrutiny through partners like the Nigeria Extractive Industries Transparency Initiative (NEITI) and other oversight agencies. Indeed, transparency is an integral part of our process," she added.
Speaking further she said since 1 December, all licensing materials have been made available on the commission's portal, and support channels have been created to address applicant enquiries.
"To further strengthen the process, today's webinar, the first of its kind, aims to clarify bid requirements and help you participate effectively before the tender deadline as well.
We also invite your questions and feedback to improve the licensing round process and outcomes. In closing, let me emphasise that the Nigerian 2025 licensing round is not merely a bidding exercise; it is a clear signal of a reimagined upstream sector anchored on the rule of law, driven by data, aligned with global investment realities, and focused on long-term value creation," she added.
