Nigeria’s Federal Government has returned 13 oil and gas blocks to the national licensing pool after they failed to attract investor bids during the 2025 Licensing Round, highlighting the mixed outcome of one of Africa’s biggest upstream investment exercises.
The announcement was made in Abuja by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, during the 2025 Commercial Bid Conference.
According to the regulator, 50 oil and gas blocks were offered across seven sedimentary basins, but only 37 received bids from investors. The remaining 13 blocks will now be made available in future licensing opportunities.
Despite the unbid assets, the government described the licensing exercise as a success, revealing that nearly 300 companies initially expressed interest. Following the prequalification process, 196 companies advanced, while 143 eventually submitted about 200 commercial bids for the available blocks.
The licensing round, launched under the Petroleum Industry Act (PIA) 2021, included onshore, shallow-water, deep offshore, and inland basin assets spread across the Niger Delta, Benin Basin, Anambra Basin, Chad Basin, and Benue Trough.
NUPRC said winning bidders are selected based on factors including financial strength, technical expertise, work commitments, performance guarantees, and signature bonus offers, with the goal of boosting oil exploration and increasing Nigeria’s energy production.
