AfriPulse
By Seun Ibiyemi
The Federal Government has commenced the 2025 Licensing Round, unveiling 50 new oil and gas blocks in a major push to deepen reserves and attract an estimated $10 billion in foreign and domestic investment.
At the official launch on Monday, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that the assets on offer include 15 onshore, 19 shallow-water, 15 frontier, and one deepwater block.
The Commission Chief Executive, Engr. Gbenga Komolafe, announced that the initiative aims to add two billion barrels to national reserves and increase daily production capacity by 400,000 barrels.
Komolafe highlighted that the licensing round is anchored on the Petroleum Industry Act (PIA) 2021 and has been designed with specific incentives to counter global market volatility.
Chief among these incentives is a government-approved downward review of signature bonuses, intended to lower entry costs for investors.
Beyond financial incentives, the NUPRC boss emphasized the technical readiness of the assets.
He revealed that the Commission has aggressively de-risked the blocks by reprocessing thousands of kilometers of seismic data.
He argued that this high-quality data will significantly reduce uncertainty, improve discovery probabilities, and shorten the timeline from licensing to production.
The CCE stated that the round also prioritizes local content and community impact, with clear objectives to stimulate job creation across technical and logistics sectors, particularly in host regions.
He further assured stakeholders that the process would adhere strictly to global transparency standards, positioning Nigeria as a competitive destination for upstream capital.
Prospective investors have been directed to the dedicated portal, br2025.nuprc.gov.ng, as the government seeks to expand gas utilization and drive the next phase of the nation’s energy development.
Source: NigerianNewsDirect | Read the Full Story…
