The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, announced that Nigeria has opened 50 oil and gas blocks across five sedimentary basins for bidding and exploration under the 2025 licensing round. She cautioned that only companies with proven technical ability and strong financial capacity will qualify to participate.

Eyesan spoke on Wednesday, January 28, 2026, during the 2025 licensing round pre-bid webinar. She explained that the process aims to remove speculative bidders and position Nigeria’s upstream sector as a transparent and rules-driven environment for long-term investment.

She outlined the framework, evaluation standards, and commercial terms guiding the bid round, noting that the exercise serves as a deliberate step to grow reserves, raise production levels, and strengthen Nigeria’s energy security as global energy conditions continue to change.

She described the upstream sector as a long-term investment space and called the licensing round an invitation to collaboration, transparency, and shared responsibility in shaping the future of Nigeria’s oil and gas industry.

Eyesan stated that the commission has adopted a strictly merit-based system that prioritizes technical expertise and financial strength in selecting successful bidders.

She disclosed that the 50 oil and gas blocks are located across five of Nigeria’s seven sedimentary basins, offering investors opportunities in both frontier areas and established producing regions.

She said the licensing round provides access to Nigeria’s key basins and allows investors to develop assets that can generate long-term value.

Eyesan added that, with President Bola Tinubu’s approval, the commission revised the commercial structure of the bid round to reduce entry barriers while filtering out unserious participants.

She revealed that the commission set signature bonuses for the 2025 licensing round between three million and seven million dollars, while placing stronger emphasis on work programs and speed to production.

She explained that the revised structure focuses less on large upfront payments and more on technical competence, credible development plans, and the ability to bring fields into production quickly, as Nigeria competes for global investment capital.

She said that the new bonus range reflects a deliberate effort to lower barriers to entry and focus on what matters most: technical capacity, sound work programs, financial strength, and timely delivery of production.

According to Eyesan, the commission made the decision in response to global capital mobility and the need to keep Nigeria attractive to serious upstream investors.

She reiterated that the upstream sector requires long-term commitment and described the licensing round as an open call for partnership, transparency, and shared responsibility in Nigeria’s oil and gas development.

KeyFacts Energy Industry Directory: African Energy Chamber