BREAKING: FG returns 13 oil blocks to licensing basket

Nigeria's Federal Government announced that 13 out of the 50 oil and gas blocks offered in the 2025 Licensing Round will be returned to the licensing basket. This decision follows the failure of these blocks to attract any bids from prospective investors. The announcement was made by Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), at the 2025 Commercial Bid Conference in Abuja.

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At the end of the exercise, we had 50 blocks on offer, but we only had representation for 37 of those 50 blocks. Thirteen of those blocks will be returning back to the basket.

Despite 13 blocks not receiving bids, the overall response to the licensing round was described as remarkable. A total of 143 companies submitted around 200 bids for the 37 blocks that did attract interest. Eyesan noted that nearly 300 companies initially expressed interest, signaling a positive shift in investor confidence in Nigeria's upstream petroleum sector. "When we started the journey, we got interest from almost 300 companies. I repeat, almost 300 companies. That, in my view, was an indication that the tide has turned for Nigeria," she stated.

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We have a total of 143 companies showing interest for 200 bids. That, for us, was remarkable, and I must say thank you.

The process saw the initial interest from nearly 300 companies narrowed down to 196 after the prequalification stage. Ultimately, 143 companies participated in the commercial bid process. The 2025 Licensing Round, launched on November 11, 2025, in accordance with the Petroleum Industry Act 2021, offered 50 blocks across seven sedimentary basins. These included onshore Niger Delta blocks, shallow water blocks, a deep offshore block, and blocks in the Benin, Anambra, Chad, and Benue Troughs.

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When we started the journey, we got interest from almost 300 companies. I repeat, almost 300 companies. That, in my view, was an indication that the tide has turned for Nigeria.

The evaluation of winning bids is based on a weighted assessment of signature bonus commitments, proposed work programs, and performance security, combining technical and commercial scores. This framework is designed to award petroleum assets to investors possessing the financial strength, technical expertise, and operational capacity necessary to accelerate exploration and production in Nigeria's upstream sector, rather than solely on financial offers.

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From the almost 300 interests that we got, we moved to the pre-qualification stage, and that number was pruned down to 196.