The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open Nigeria’s 2025 oil licensing round on December 1, a move widely seen as a major step toward revitalising investment in the country’s oil and gas sector.
The exercise, expected to attract global exploration and production firms, will offer new oil blocks under a transparent, competitive framework aligned with the Petroleum Industry Act (PIA).
Industry players say the licensing round marks one of the most ambitious policy efforts under President Bola Tinubu’s administration aimed at restoring investor confidence and expanding crude oil output.
“A Bold Statement of Confidence”
Reacting to the announcement, the Energy Governance Alliance (EGA) hailed the move as a “bold statement of confidence” in Nigeria’s upstream potential and a clear indication that the country is serious about attracting global investment.
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In a statement issued on Wednesday, Dr Kelvin Sotonye William, Executive Director of EGA, said the exercise represents a new phase of credibility and investor trust in the petroleum industry.
“The NUPRC has taken a decisive step that goes beyond opening new oil blocks; it is opening a new chapter of transparency and accountability,” he said.
“By anchoring this licensing round on data integrity and predictable regulation, the Commission is telling the world that Nigeria’s upstream business is once again open for fair and profitable investment.”
Reforms Under Komolafe Earning Global Attention
EGA commended Engr. Gbenga Komolafe, Chief Executive of the NUPRC, for his “reform-driven leadership,” which, according to the group, has restored discipline and efficiency to the sector.
“Under Engr. Komolafe’s leadership, the NUPRC has become what the PIA envisioned — a modern, independent regulator that enables business rather than obstructs it. This licensing round reflects that vision,” the group added.
The alliance also noted that unveiling the licensing round in London was both “strategic and symbolic,” underscoring Nigeria’s readiness to re-engage international investors.
“By meeting investors where they are and presenting a transparent investment case, the NUPRC is rebuilding the trust lost to years of policy inconsistency,” EGA said.
Sector Progress Under New Regulatory Clarity
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Dr William highlighted NUPRC’s measurable progress, including the approval of 46 field development plans in 2025, an active rig count above 60, and production levels reaching 1.83 million barrels per day.
“These are not just statistics — they’re evidence that reforms are yielding results,” he said. “When regulatory clarity meets investor confidence, capital follows.”
EGA urged the federal government to sustain support for the Commission’s reforms through consistent policy implementation and stakeholder engagement.
“With this licensing round, Nigeria has the chance to prove that transparency and profitability can go hand in hand,” William added. “If this momentum continues, the country can exceed two million barrels per day and advance toward a $1 trillion economy.”
