JUST IN: Highest bidder won’t automatically get oil blocks — FG

The Federal Government has clarified that the highest financial bidder will not automatically secure an oil block in the ongoing 2025 Licensing Round. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) emphasized that technical competence and operational capability will be decisive factors in determining successful bidders.

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The evaluation was rigorous. It was objective. It was simple. And it was to place assets in the hands of bidders capable of delivering the best overall long-term value. It wasn’t, or it isn’t going to be just about your ability to be the highest bidder.

Oritsemeyiwa Eyesan, the Chief Executive of NUPRC, stated at the 2025 Commercial Bid Conference in Abuja that the commission's evaluation process is designed to award petroleum assets to companies capable of developing them, rather than those merely submitting the highest financial offers. She explained that the assessment is rigorous, objective, and focused on securing the best long-term value for Nigeria’s upstream petroleum sector. "It wasn’t, or it isn’t going to be just about your ability to be the highest bidder. We want to ensure that you have the right capabilities to deliver the assets, in addition to having the financial resources to deliver these assets," Eyesan said.

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We want to ensure that you have the right capabilities to deliver the assets, in addition to having the financial resources to deliver these assets.

The NUPRC chief elaborated that the commission assessed bidders on several criteria, including competence, experience, organizational and operational capacity, the credibility of their proposed work programs, resource commitment to execution, and the ability to deliver within specified timelines. "The team carefully assessed each bidder’s competence and experience, organisational and operational capacity, credibility of their proposed work programme, resource commitment to execution, and the ability to deliver within the proposed time frame," she added.

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The team carefully assessed each bidder’s competence and experience, organisational and operational capacity, credibility of their proposed work programme, resource commitment to execution, and the ability to deliver within the proposed time frame.

Eyesan stressed that the commercial bid opening, the final stage before announcing winners, is conducted transparently. "Forget whatever you’ve been told, forget whatever you’ve heard, nobody has seen anybody’s commercial bids. And we will demonstrate that today," she asserted. This approach underscores the government's commitment to awarding blocks to credible and competent operators, ensuring that Nigeria's valuable petroleum assets are managed effectively for national benefit.

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Forget whatever you’ve been told, forget whatever you’ve heard, nobody has seen anybody’s commercial bids. And we will demonstrate that today.