NUPRC Seeks Strong Global Participation in Nigeria’s 2025 Oil and Gas Licensing Round, Highlights PIA Reforms.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has intensified its call for international and regional investors to participate in Nigeria’s 2025 oil and gas licensing round, describing the exercise as a major step toward boosting exploration, increasing reserves, and strengthening the country’s position in the global energy market.
Speaking at the opening ceremony of the 10th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) held in Lagos, the Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, said the licensing round reflects Nigeria’s commitment to transparent regulation, investor confidence, and responsible resource development under the Petroleum Industry Act (PIA) 2021.
According to Eyesan, the round will offer about 50 oil and gas blocks spanning onshore fields, shallow water assets, and deep offshore terrains, creating a wide range of opportunities for investors with varying technical and financial capabilities. She noted that the structured approach adopted by the regulator is designed to ensure fairness, predictability, and long-term sustainability in Nigeria’s upstream sector.
“To facilitate access to Nigeria’s vast hydrocarbon resources, the 2025 licensing round has been launched with a focus on transparency and efficiency,” she said. “We are inviting capable investors from across the globe to partner with Nigeria in unlocking its enormous upstream potential.”
She explained that the Petroleum Industry Act has significantly improved Nigeria’s investment climate by introducing clearer fiscal frameworks, streamlined regulatory processes, and stronger governance structures. These reforms, she said, have helped restore confidence among international oil companies, independent operators, and financial institutions that had previously expressed concerns about regulatory uncertainty.
Eyesan also pointed to renewed global interest in Africa’s hydrocarbon sector, noting that the continent is expected to attract between 48 billion and 50 billion dollars out of the estimated 520 billion dollars projected for global upstream capital expenditure in 2026. This represents more than eight per cent of total global investment, a notable increase compared to previous years when Africa accounted for less than four per cent.
She attributed the surge in investor interest to new discoveries in frontier basins such as Namibia and Mozambique, alongside the continued attractiveness of established oil-producing countries like Nigeria, Angola, and Ghana. According to her, Nigeria remains strategically positioned due to its large reserves base, extensive infrastructure network, and growing pool of indigenous operators.
While encouraging foreign direct investment, the NUPRC chief emphasised the importance of strengthening domestic participation. She noted that African independent companies and local investors are increasingly playing a central role in driving production growth and sustaining operations, particularly as international oil majors divest from some onshore assets.
“Domestic capital brings stronger commitment, resilience, and long-term stability to the sector,” Eyesan stated. “By empowering local players while attracting global expertise, Nigeria is building a balanced upstream ecosystem that supports economic growth, job creation, and energy security.”
Industry analysts say the 2025 licensing round could significantly expand Nigeria’s exploration footprint if executed successfully, particularly in deepwater areas where technological advancements and improved fiscal terms have renewed investor interest. The initiative is also expected to support government efforts to increase crude oil output, boost gas development for domestic use, and generate additional revenue for national development.
The SAIPEC conference, which brings together policymakers, investors, energy executives, and technology providers from across Africa and beyond, continues to serve as a platform for discussions on investment opportunities, energy transition strategies, and collaboration within the continent’s petroleum industry.
Observers believe that the success of the licensing round will depend not only on regulatory transparency but also on global market conditions, energy transition policies, and Nigeria’s ability to maintain a stable and investor-friendly environment. Nevertheless, stakeholders remain optimistic that the reforms introduced under the PIA and the proactive engagement by the NUPRC will attract new capital and reposition Nigeria as a leading destination for upstream investment in Africa.
Credit: X/Imran Mohamed, Newzspy, Igwenoni Multimedia (IMV)
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