Nigeria: Transparency, Financial, Technical Capacity Prerequisites for 2025 Oil Block Bidders...Nuprc

The 2025 licensing bid round will be guided by transparency, as only applicants with financial and technical know-how will qualify for the critical stage of the bid process.

Mrs. Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission NUPRC, gave the clarification at the 2025 licensing round pre-bid webinar organised by the Commission. "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," she said.

She also explained that the signature bonuses for the 2025 licensing round are now set within a value range that reduces entry barriers and places greater weight on what truly matters: technical capability, credible work programs, financial strength, and the ability to deliver production within the shortest possible time. "This has been done to increase competitiveness and in response to capital mobility," the CCE stated.

According to the CCE, the licensing round as an open call for committed partners; those ready to invest capital, bring technical excellence, and accelerate Nigeria's assets from license award to exploration, appraisal, and ultimately, full production.

She said, "Nigeria is ready to be the beautiful bride to capital and playroom for advanced technological deployment for hydrocarbon recovery. "In this licensing round, 50 oil and gas blocks across Nigeria are available, allowing investors to access the country's key basins and create long-term value."

Eyesan further assured the public that the bid process will comply with the Petroleum Industry Act, promote the use of digital tools for smooth data access and remain open to public and institutional scrutiny through the Nigeria Extractive Industries Transparency Initiative (NEITI) and other oversight agencies. "Let me emphasize 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," the NUPRC boss said. 50 oil and gas blocks are on offer for the licensing round.

Read the original article on Vanguard.