The Nigerian government is set to move 13 oil and gas blocks back into its national licensing pool following a lack of interest from potential investors during the 2025 Licensing Round. Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), shared this update on Tuesday in Abuja during the 2025 Commercial Bid Conference.
Although 50 blocks were initially made available across several sedimentary basins, only 37 received bids. Eyesan characterized the participation as positive, noting that 143 companies submitted approximately 200 bids in total. The initial interest had been high, with nearly 300 companies expressing potential interest before the prequalification phase whittled the pool down to 196 firms.
The 2025 Licensing Round was organized under the 2021 Petroleum Industry Act, covering 50 assets across seven basins, including the Niger Delta, Benin, Anambra, Chad, and the Benue Trough. Bidders were evaluated on criteria such as technical expertise, financial strength, and work plans to ensure the successful development of these resources.
