FG Opens 2025 Oil Licensing Round, Offers 50 Blocks to Attract $10bn and Boost Output by 400,000bpd

The Federal Government on Monday launched the 2025 oil and gas licensing round, offering 50 blocks to investors as part of a strategy to attract $10 billion in new capital and raise national production by an additional 400,000 barrels per day. The initiative also aims to secure 10 billion barrels of oil over the next decade.

Unveiling the bid round in Abuja, Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the available blocks cut across onshore, swamp/shallow water, and offshore terrains. They include 15 offshore assets, 19 frontier acreages, and one deepwater block.

Komolafe said the Nigeria 2025 Licensing Round is structured to deepen exploration activities, increase reserves, boost government revenue, and generate employment in host communities. “Core objectives include reserve growth, increased production capacity, and thousands of direct and indirect jobs spanning technical roles, logistics, supply chain, infrastructure, and local content services,” he stated.

The round also seeks to advance gas utilization in line with global energy transition goals, strengthen transparency in line with EITI standards, expand indigenous participation, and contribute to long-term global energy security.

To attract more investors, he explained, the government has reduced signature bonuses and introduced measures to de-risk exploration. “Through extensive multi-client surveys, the NUPRC has reprocessed thousands of kilometres of 2D and 3D seismic data, producing sharper, higher-resolution images of our petroleum systems and reducing uncertainties that once hindered exploration decisions,” Komolafe said.

He noted that investors stand to gain from higher-quality geophysical datasets, lower exploration risks, improved chances of discovery, faster appraisal cycles, reduced entry costs, and a smoother path from licensing to first oil or gas.

Komolafe added that the 2025 licensing round aligns with President Bola Tinubu’s directive that Nigeria should not just be open for business but “irresistible for investment,” offering a more transparent, data-driven, and investor-focused environment.

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