NUPRC Announces 2025 Oil Sector Licensing Round to Boost Investments

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed plans to commence the 2025 licensing round on December 1, 2025, in a bid to attract new investments in the oil and gas sector. The commission's Chief Executive, Gbenga Komolaf, announced the initiative to increase production by 1 million barrels per day during an investment forum in London, UK.

This move is aimed at improving government revenue, restructuring the sector, and encouraging foreign oil companies to invest in Nigeria. The announcement aligns with the Petroleum Industry Act and signals a shift towards a more transparent bidding process.

NUPRC acknowledges the need to collaborate with stakeholders to address challenges and enhance industry confidence.