NIGERIA: NUPRC Projects $10bn Investments as Licensing Round Portal Opens for 50 blocks
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the 2025 Licensing Round Portal marking a major push to attract new global investment into the country’s petroleum sector. Announced on December 1, 2025, by the Commission Chief Executive, Eng. Gbenga Komolafe, the new licensing round aims to raise $10 billion in fresh capital and add 2 billion barrels to Nigeria’s national oil reserves over the next decade.
A total of 50 oil and gas blocks have been opened to investors, covering a wide range of terrains including onshore, shallow water, frontier basins, and deepwater. According to the Commission, the available blocks are distributed as follows:
- 15 Onshore Blocks
- 19 Shallow Water Blocks
- 15 Frontier Basin Assets
- 1 Deepwater Block
Eng. Komolafe noted that the newly offered acreages hold massive potential for driving Nigeria’s energy future, with projections showing the blocks could collectively generate up to 400,000 barrels of oil per day once fully developed.
The NUPRC emphasized that the 2025 Licensing Round is designed to accelerate several national goals, including:
- Strengthening Nigeria’s oil and gas reserves
- Expanding crude oil and gas production capacity
- Deepening gas utilisation to support industries and power generation
- Creating thousands of direct and indirect jobs
- Enhancing opportunities for local companies and indigenous investors
- Upholding transparency and accountability in line with EITI global standards
The Commission reiterated its commitment to making the 2025 Licensing Round a competitive, transparent, and investor-friendly process, positioning Nigeria as a top destination for upstream investment in Africa.