Nigeria opens bid round for 50 oil blocks with reduced entry costs

LAGOS, January 30, 2026 – Nigeria has formally launched its 2025 oil licensing round, offering 50 blocks at reduced signature bonuses ranging from USD 3 million-7 million, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said on Wednesday, per a report in local media outlet Nairametrics.

The bonus cut from USD 10 million in 2024 aims to boost investor interest and follows presidential approval. The blocks span onshore, shallow-water, frontier basins and one deepwater asset. The five-stage process includes pre-qualification, technical and commercial bid evaluations and will follow the Petroleum Industry Act 2021.

More information on the bid round including a map of the blocks on offer can be found on the NUPRC’s portal.

“This upstream sector is serious business… it is an open invitation to partnership, transparency, and shared responsibility,” NUPRC chief executive Oritsemeyiwa Eyesan was quoted as saying.

The bid round was initially announced in November by NUPRC chief executive Gbenga Komolafe during the Project 1MMBOPD Additional Production Investment Forum in London.

All licensing materials were made available online on December 1, 2025. The commission has also introduced a digital bid portal and pledged transparency and support throughout the process.

The NUPRC regulates Nigeria’s upstream oil and gas sector. It was established under the Petroleum Industry Act to oversee exploration, licensing, production and compliance in Africa’s largest oil producer.

Photo of Oritsemeyiwa Eyesan courtesy of NUPRC

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