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INTRODUCTION
On 11th November 2025, the Nigerian Upstream Petroleum Regulatory Commission ("NUPRC" or "the Commission") announced that the 2025 Oil Licensing Round will begin on 1st December 2025, marking a significant move to attract investment and boost oil production under the Petroleum Industry Act ("PIA"). The announcement, made at the Project 1MMBOPD Investment Forum in London, highlights Nigeria's commitment to transparency, competitiveness, and sustainability in allocating oil blocks, while aiming to attract new investors, enhance reserves, and help achieve the Federal Government's target of an additional 1 million barrels per day in production.1
WHAT THIS MEANS FOR THE NIGERIAN UPSTREAM SECTOR
The 2025 Licensing Round highlights Nigeria's commitment to revitalising its upstream oil sector and enhancing investor confidence through the PIA framework. It aims to boost exploration and production in both frontier and mature basins, promote transparency via digital bidding and data access, and reinforce Nigeria's appeal as a responsible investment destination. The NUPRC also emphasized its role in fostering collaboration among investors, lenders, and operators to tackle funding and infrastructure challenges in the sector.
IMPLICATIONS FOR INVESTORS AND INDUSTRY STAKEHOLDERS
The 2025 Oil Licensing Round offers a strategic opportunity for local and international investors to participate in Nigeria's upstream oil and gas sector, with prospective bidders urged to prepare for registration and evaluation ahead of its launch. Conducted under the PIA, the process will emphasize fairness, accountability, and value optimisation while requiring adherence to environmental, social, and governance (ESG) standards. Overall, the round reflects Nigeria's renewed commitment to investment-driven production growth and consistent regulatory practices.
Footnote
1 https://www.nuprc.gov.ng/nuprc-announces-2025-licensing-round-to-harness-undeveloped-fields/
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