The Nigerian Upstream Petroleum Regulatory Fee (NUPRC), on the opening of fifty oil and gasoline blocks throughout 5 sedimentary basins for bidding and exploration within the 2025 licensing spherical, stated it had diminished the signature bonus for the spherical to between $3 million and $7 million.
The brand new bonus, which has presidential approval, is a discount from the $10 million paid in 2024 and an enormous drop from the roughly $200 million required some years in the past.
This was made recognized by the Chief Government of the NUPRC, Oritsemeyiwa Eyesan, in the course of the 2025 licensing spherical pre-bid webinar on Wednesday, January 28, 2026, the place the regulator outlined the framework, analysis standards, and industrial phrases guiding the bid course of.
A complete of fifty oil and gasoline blocks, together with 15 onshore, 19 shallow-water belongings, 15 frontier basins, and one deepwater block, are being supplied within the delayed 2025 licensing spherical.
Eyesan stated with the approval of President Bola Tinubu, the Fee had reviewed the industrial construction of the bid spherical to decrease entry obstacles whereas discouraging unserious bidders.
She stated, “With the approval of His Excellency, President Bola Tinubu, signature bonuses for the 2025 licensing spherical are actually set inside a price vary of $3m–$7m that reduces entry obstacles and locations better weight on what actually issues, technical functionality, credible work programmes, {financial} energy, and the flexibility to ship manufacturing inside the shortest potential time.’’
“This has been performed intentionally to extend competitiveness and in response to capital mobility. The upstream sector is severe enterprise. It’s for long-term funding, and it’s an open invitation to partnership, transparency, and shared duty,” Eyesan acknowledged.
“You aren’t navigating uncertainty, you might be working with a framework that’s clear, predictable, and intentionally designed to encourage confidence,” she stated.
Eyesan stated the licensing spherical ought to be considered as a strategic intervention to develop reserves, enhance manufacturing, and strengthen Nigeria’s vitality safety in a quickly evolving international vitality panorama.
She stated, “This upstream sector is severe enterprise. It’s for long-term funding, and it’s an open invitation to partnership, transparency, and shared duty as we work collectively to form the following part of Nigeria’s upstream oil and gasoline business.’’
“Solely candidates with sturdy technical and {financial} credentials, professionalism, and credible plans will transfer ahead. Winners might be chosen by a clear, merit-based course of that takes you from award to exploration, appraisal, and finally full manufacturing.
“On this licensing spherical, 50 oil and gasoline blocks throughout Nigeria can be found, permitting buyers to entry the nation’s key basins and create long-term worth,” she stated.
“Let me emphasise clearly that the bid course of will adjust to the Petroleum Business Act, promote using digital instruments for clean information entry and stay open to public and institutional scrutiny by NEITI and different oversight businesses,” Eyesan stated.
She added that every one licensing supplies had been uploaded on the fee’s portal since December 1, 2025, with devoted assist channels created to reply promptly to investor enquiries.
The NUPRC had in December 2025 formally launched the 2025 Licensing Spherical, introducing a digital bid portal because the nation strikes to deepen funding and strengthen actions within the upstream sector.
In response to him, the 2024 Licensing Spherical concluded with out litigation and obtained commendations from the Nigeria Extractive Industries Transparency Initiative and different stakeholders.
