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 lowered 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 identified 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 business phrases guiding the bid course of.
A complete of fifty oil and gasoline blocks, together with 15 onshore, 19 shallow-water property, 15 frontier basins, and one deepwater block, are being provided within the delayed 2025 licensing spherical.
What the NUPRC Chief Government is saying
Eyesan stated with the approval of President Bola Tinubu, the Fee had reviewed the business 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 at the moment are set inside a price vary of $3m–$7m that reduces entry obstacles and locations higher weight on what actually issues, technical functionality, credible work programmes, monetary power, and the flexibility to ship manufacturing throughout the shortest doable time.’’
- In line with her, the choice was knowledgeable by international capital mobility and the necessity to make Nigeria aggressive in attracting critical, long-term upstream traders.
“This has been completed intentionally to extend competitiveness and in response to capital mobility. The upstream sector is critical enterprise. It’s for long-term funding, and it’s an open invitation to partnership, transparency, and shared accountability,” Eyesan said.
- The NUPRC boss assured traders that the modifications for the spherical, the primary she’s going to oversee since her appointment in December, will present a secure and predictable regulatory surroundings.
“You aren’t navigating uncertainty, you’re working with a framework that’s clear, predictable, and intentionally designed to encourage confidence,” she stated.
Extra perception
Eyesan stated the licensing spherical ought to be seen 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 critical enterprise. It’s for long-term funding, and it’s an open invitation to partnership, transparency, and shared accountability as we work collectively to form the following part of Nigeria’s upstream oil and gasoline business.’’
- In line with her, the fee has adopted a strictly merit-based method that locations technical competence and monetary capability on the centre of the choice course of.
“Solely candidates with robust technical and monetary credentials, professionalism, and credible plans will transfer ahead. Winners shall be chosen via a clear, merit-based course of that takes you from award to exploration, appraisal, and in the end full manufacturing.
“On this licensing spherical, 50 oil and gasoline blocks throughout Nigeria can be found, permitting traders to entry the nation’s key basins and create long-term worth,” she stated.
- The NUPRC boss stated the licensing spherical follows a five-stage course of comprising registration and pre-qualification, knowledge acquisition, technical bid submission, analysis, and a business bid convention.
- She burdened that your complete train would comply strictly with the Petroleum Trade Act 2021, with digital instruments deployed to make sure transparency and public accountability.
“Let me emphasise clearly that the bid course of will adjust to the Petroleum Trade Act, promote the usage of digital instruments for clean knowledge entry and stay open to public and institutional scrutiny via NEITI and different oversight businesses,” Eyesan stated.
She added that each one licensing supplies had been uploaded on the fee’s portal since December 1, 2025, with devoted help channels created to reply promptly to investor enquiries.
What you need to know
The NUPRC had in December 2025 the 2025 Licensing Spherical, introducing a digital bid portal because the nation strikes to deepen funding and strengthen actions within the upstream sector.
- The fast previous CEO of the fee, Gbenga Komolafe, stated the portal was developed to increase funding alternatives, enhance transparency, and deepen exploration throughout Nigeria’s oil and gasoline worth chain.
- He recalled latest licensing initiatives, together with the 2022 Mini-Bid Spherical and the 2024 Licensing Spherical, which he described as extremely clear and globally aggressive.
In line with him, the 2024 Licensing Spherical concluded with out litigation and acquired commendations from the Nigeria Extractive Industries Transparency Initiative and different stakeholders.
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