Nigeria has officially kicked off its 2025 oil licensing round, offering 50 oil blocks to investors as the country pushes to revive crude production and attract fresh capital. The announcement, made on Monday by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), marks one of the country’s most ambitious investment drives in recent years.
According to the regulator, the available assets include 15 onshore blocks, 19 shallow-water blocks, 15 frontier acreages and one deepwater block. The wide mix of terrains is designed to appeal to both new entrants and established international companies looking to expand their African footprint.
NUPRC chief executive Gbenga Komolafe said the government expects the round to generate about $10 billion in new investment, potentially unlocking up to 2 billion barrels of oil over the next decade. If all developments reach full operational capacity, Nigeria could add an estimated 400,000 barrels per day to national output.
Komolafe also addressed the progress of awardees from last year’s licensing round, confirming that signature bonuses have been paid and exploration work is underway. However, he cautioned that new production takes time to develop. “The fact that a licensing round was done last year does not immediately translate into additional barrels,” he said.
Nigeria, which relies heavily on oil revenue for foreign exchange, is racing to reverse years of declining output caused by underinvestment, security issues and aging infrastructure in the Niger Delta. The new licensing round is part of broader efforts to restore investor confidence and strengthen the country’s position as Africa’s leading crude producer.
source: reuter