NUPRC Opens Bid for 50 Oil Blocks at Reduced Signature Bonus

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), at the opening of 50 oil and gas blocks across five sedimentary basins for bidding and exploration in the 2025 licensing round, said it had reduced the signature bonus for the round to between $3 million and $7 million.

The new bonus, which has presidential approval, is a reduction from the $10 million paid in 2024 and a huge drop from the approximately $200 million required some years ago.

This was made known by the Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, during the 2025 licensing round pre-bid webinar on Wednesday, January 28, 2026, where the regulator outlined the framework, evaluation criteria, and commercial terms guiding the bid process.

A total of 50 oil and gas blocks, including 15 onshore, 19 shallow-water assets, 15 frontier basins, and one deepwater block, are being offered in the delayed 2025 licensing round.

What the NUPRC Chief Executive is saying

Eyesan said with the approval of President Bola Tinubu, the Commission had reviewed the commercial structure of the bid round to lower entry barriers while discouraging unserious bidders.

She said, “With the approval of His Excellency, President Bola Tinubu, signature bonuses for the 2025 licensing round are now set within a value range of $3m–$7m that reduces entry barriers and places greater weight on what truly matters, technical capability, credible work programmes, financial strength, and the ability to deliver production within the shortest possible time.’’

According to her, the decision was informed by global capital mobility and the need to make Nigeria competitive in attracting serious, long-term upstream investors.

“This has been done deliberately to increase competitiveness and in response to capital mobility. The upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility,” Eyesan stated.

The NUPRC boss assured investors that the changes for the round, the first she will oversee since her appointment in December, will provide a stable and predictable regulatory environment.

“You are not navigating uncertainty, you are operating with a framework that is transparent, predictable, and deliberately designed to inspire confidence,” she said.

More insight

Eyesan said the licensing round should be viewed as a strategic intervention to grow reserves, improve production, and strengthen Nigeria’s energy security in a rapidly evolving global energy landscape.

She said, “This upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility as we work together to shape the next phase of Nigeria’s upstream oil and gas industry.’’

According to her, the commission has adopted a strictly merit-based approach that places technical competence and financial capacity at the centre of the selection process.

“Only candidates with strong technical and financial credentials, professionalism, and credible plans will move forward. Winners will be chosen through a transparent, merit-based process that takes you from award to exploration, appraisal, and ultimately full production.

“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,” she said.

The NUPRC boss said the licensing round follows a five-stage process comprising registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.
She stressed that the entire exercise would comply strictly with the Petroleum Industry Act 2021, with digital tools deployed to ensure transparency and public accountability.

“Let me emphasise clearly 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 NEITI and other oversight agencies,” Eyesan said.

She added that all licensing materials had been uploaded on the commission’s portal since December 1, 2025, with dedicated support channels created to respond promptly to investor enquiries.

What you should know

The NUPRC had in December 2025 officially launched the 2025 Licensing Round, introducing a digital bid portal as the country moves to deepen investment and strengthen activities in the upstream sector.

The immediate past CEO of the commission, Gbenga Komolafe, said the portal was developed to expand investment opportunities, improve transparency, and deepen exploration across Nigeria’s oil and gas value chain.
He recalled recent licensing initiatives, including the 2022 Mini-Bid Round and the 2024 Licensing Round, which he described as highly transparent and globally competitive.

According to him, the 2024 Licensing Round concluded without litigation and received commendations from the Nigeria Extractive Industries Transparency Initiative and other stakeholders.