Nigeria has officially launched its 2025 oil licensing round, offering 50 oil blocks to investors as part of renewed efforts to increase crude production and draw fresh capital into the country’s energy sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the available blocks include 15 onshore fields, 19 shallow-water blocks, 15 frontier basin assets, and one deepwater block.
According to NUPRC Chief Executive Gbenga Komolafe, the licensing round is projected to attract around $10 billion in new investment and could add up to 2 billion barrels of oil to Nigeria’s reserves over the next decade. When fully developed, the awarded blocks are expected to contribute approximately 400,000 barrels per day to national oil production.
Komolafe also noted that winners from the previous year’s licensing round have already paid their signature bonuses and are progressing through exploration and development stages. However, he emphasized that new production takes time to materialize, saying:
“The fact that a licensing round was done last year does not immediately translate into additional barrels.”
Nigeria, which depends heavily on oil for its export revenue, is seeking to revive output following years of underinvestment, production decline, and persistent security challenges in the oil-rich Niger Delta.
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