Judul : NUPRC Launches Oil Block Licensing in December
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NUPRC Launches Oil Block Licensing in December
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared the start of the 2025 Licensing Round, beginning on December 1, 2025.
The head of the National Petroleum Regulatory Commission (NUPRC), Engineer Gbenga Komolafe, disclosed this information during the NUPRC's Project 1MMBOPD Additional Production Investment Forum held in London on Tuesday, November 11, 2025.
In a statement from Eniola Akinkuotu, the Head of Media and Strategic Communication at NUPRC, Engr. Komolafe mentioned that the announcement aligned with the Petroleum Industry Act, after being approved by President Bola Ahmed Tinubu, who also serves as the Minister of Petroleum Resources.
"We have declared that we are prepared, after receiving the Minister of Petroleum Resources' approval in accordance with the Petroleum Industry Act, to initiate the 2025 licensing round starting from December 1, 2025," stated the CCE.
At a gathering that included CEOs from oil firms, banking officials, and possible investors, the head of NUPRC stated that financial support continued to be the main obstacle in Nigeria's exploration and production industry, and the commission, as a facilitator, intends to address this by linking relevant stakeholders.
He therefore mentioned that the event was organized to bring together all relevant parties in order to achieve the additional one million barrels.
One of the factors influencing business was that operations were conducted in isolation, but the NUPRC now recognizes the importance of uniting all parties," the CCE stated, further mentioning, "We encourage you all to connect. Bank of America is present along with representatives from other banks.
He mentioned that the changes introduced by the administration headed by President Bola Ahmed Tinubu have enhanced Nigeria's economic indicators.
He mentioned that the current crude production stands at 1.71 million barrels per day, with a maximum daily output reaching 1.83 million barrels per day, indicating clear advancement.
The CCE stated that 46 Field Development Plans (FDPs) have been approved from January 2025 up to now, indicating immediate investment commitments and potential for increased production.
Engineer Komolafe mentioned that the number of rigs has increased to more than 60, with at least 40 currently operational. He therefore suggested that this is the ideal moment for current investors to increase their investment in Nigeria.
Earlier, the Chairman of the House Committee on Petroleum Resources (Upstream), Hon. Alhassan Ado Doguwa, assured investors that his committee would not introduce any laws that could harm investments.
Hon. Doguwa stated that the 2021 Petroleum Industry Act would not be altered without proper justification.
"The lower house reiterates its dedication to the PIA and will oppose any arbitrary modifications that could harm investments," he stated.
The Senate's equivalent, Senator Eteng Williams, also assured investors that Nigeria's legislative body will keep enacting laws favorable to business and encouraged investors not to worry.
Senator Enang praised Engineer Komolafe for serving as a catalyst for business.
In his comments, Mr. Ademola Adeyemi Bero, Chairman of the Governing Board of the Organisation of Petroleum Exporting Countries (OPEC), stated that the oil sector continues to be essential in President Tinubu's vision to elevate Nigeria to a $1 trillion economy.
He therefore urged investors to focus on the opportunity presented by the Project 1MMBOPD Forum.
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Tagged: Nigeria, West Africa
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