Joseph Bakare
Nigeria’s bid to bring on board more investors into its oil fields production expansion is gaining traction as about 143 companies advances to the final commercial bidding stage of Nigeria’s 2025 Licensing Round.
The Companies are competing for 50 oil and gas blocks spread across the country’s major hydrocarbon basins.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the successful bidders, having met the requirements at the prequalification stage, will participate in the Commercial Bid Conference in Abuja.
The NUPRC said that participation in the conference is strictly by invitation and limited to companies that successfully passed the rigorous screening and prequalification process.
The licensing round features 50 oil and gas blocks comprising 16 Niger Delta Onshore blocks, 18 Niger Delta Shallow Water blocks, one Niger Delta Deep Offshore block, three Benin Basin Onshore blocks, four Anambra Basin Onshore blocks, four Chad Basin Onshore blocks and four Benue Trough blocks.
NUPRC stated that bids would be evaluated using a combination of commercial and technical parameters, including the signature bonus, work programme commitments and performance security commitments. The overall weighted technical and commercial scores will determine the eventual winners.
The Commission noted that the 2025 Licensing Round was announced on November 11, 2025, in accordance with the Petroleum Industry Act (PIA), 2021, while the bid portal was opened on December 1, 2025, to enable interested investors to register for participation.
It recalled that a pre-bid conference was held on January 14, 2026, at Eko Hotels and Suites, Lagos, to provide prospective bidders with detailed guidance on the procedures and requirements for the exercise.
Registration and submission of applications for prequalification closed on February 27, 2026, while the evaluation process was concluded on March 16, 2026.
According to the regulator, 286 companies initially submitted applications for prequalification, out of which 196 met the stipulated requirements to proceed to the technical and commercial bid phase.
Of the prequalified companies, 143 eventually submitted a total of 200 bids, qualifying them for the Commercial Bid Conference, which marks the final competitive stage of the licensing process before the announcement of successful bidders.
The commission said the licensing round is part of ongoing efforts to attract investment into Nigeria’s upstream petroleum sector, increase exploration activities and unlock the country’s vast hydrocarbon resources in line with the objectives of the Petroleum Industry Act (PIA).