NUPRC Sets $3m to $7m Signature Bonus for 2025 Oil Licensing Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the ground rules for the upcoming 2025 petroleum licensing round, aiming to enhance Nigeria's oil and gas reserves. The signature bonus is set between $3 million and $7 million, with a minimum turnover requirement for bidders.

The process will last from November 17, 2025, to July 17, 2026, allowing both local and foreign companies to participate without discrimination. The initiative seeks to attract foreign direct investment, increase Nigerian content development, and create job opportunities in the sector.