Nigeria prepares for 2025 licensing round to boost upstream investment

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is gearing up for the launch of its 2025 oil and gas licensing round on December 1.

During a meeting with executives from Italian integrated energy company Ludoil Energy at the NUPRC’s Abuja headquarters, Commission Chief Executive Gbenga Komolafe reaffirmed the government’s commitment to transparency in the upcoming round, the African Energy Chamber (AEC) said in a press release on November 25.

The NUPRC is inviting local and international investors to tap Nigeria’s hydrocarbon-rich, undeveloped fields, with the latest licensing round deemed a pivotal moment in the country’s upstream sector development.

“The licensing round will be transparent and fair in line with the provisions of the Petroleum Industry Act of 2021,” Komolafe said. “We do not discriminate. We invite all potential investors to participate.”

The bid portal will open on December 1 on the NUPRC website, following approval from President Bola Tinubu, and the process will run in two stages: a technical assessment and then commercial bids for those who qualify.

The round takes place as Nigeria’s regulatory landscape undergoes major reform under the Petroleum Industry Act (PIA), which created new regulators and commercialised the Nigerian National Petroleum Company Limited (NNPCL). Coupled with tax incentives for gas, local content regulations, and the “Decade of Gas” agenda, the changes aim to build a more efficient, investor-oriented sector, says the AEC.

Nigeria’s 2025 licensing round is emerging as a key step in attracting investment and bringing undeveloped resources into play.

“Making our oil sector attractive to investors is a major measure in our ongoing transformation journey, and it is encouraging to see this effort yielding the anticipated results because our commitment to providing a conducive and profitable environment remains sacrosanct,” Nigeria’s Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri told the delegation from Ludoil Energy.

“Our doors remain open to collaboration that drives progress, innovation and sustainable development,” he added.

According to Lokpobiri, Nigeria’s reforms offer a clearer, more transparent framework that supports efficient and commercially attractive operations for companies expanding their presence across the upstream, midstream and downstream sectors.

For prospective bidders, Lokpobiri message is clear: Nigeria is seeking investment and is prepared to put supportive conditions in place. According to the AEC’s report, Ludoil Energy’s executives expressed strong interest in the forthcoming round, highlighting the country’s scale, resource potential and improved regulatory certainty.

“We are seeing Nigeria as our next target for growth because Nigeria is the largest producer in Africa,” Ludoil Energy Group Chief Technical Officer Paolo Fedeli was quoted as saying. “Your next round of licensing is an opportunity for us.”