Nigeria to Auction 50 Oil Blocks, Attracting Global Investors

The Nigerian government is set to open 50 oil and gas blocks for sale in a bid to attract investment and boost the country's upstream sector. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will oversee the licensing process starting from December 1.

The initiative aims to diversify investment opportunities and stimulate activity in untapped areas. A series of promotional roadshows will be held in major financial hubs like Dubai, Singapore, Beijing, and Houston to attract global oil operators.

The move is part of efforts to strengthen transparency and competitiveness in the sector.