Unlimited Investors: FG Returns 13 Oil Blocks To Licensing Basket

BY CHIKA OKEKE, Abuja

The Federal Government has stated that 13 of the 50 oil and gas blocks offered under the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids by investors.

Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Oritsemeyiwa Eyesan stated this on Tuesday at the 2025 Commercial Bid Conference in Abuja.

He informed that while 50 blocks were offered for bidding that only 37 received attention from prospective investors.

“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,” she said.

She hinted that 143 companies indicated interest out of the 200 blocks set aside for bidding, describing it as remarkable.

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

She pointed out that almost 300 companies indicated interest for bidding after the announcement, adding that the number of interested companies was reduced to 196 after the prequalification stage before advancing to the technical and commercial evaluation stages.

“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.

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

The 2025 Licensing Round was announced on November 11, 2025, in line with the Petroleum Industry Act 2021, as 50 oil and gas blocks were offered across seven sedimentary basins.

Also, the assets consist 16 Niger Delta onshore blocks, 18 shallow water blocks, one deep offshore block, three blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin and four in the Benue Trough.

While the bid portal opened on December 1, 2025, a pre-bid conference was held on January 14, 2026, in Lagos to guide prospective investors on the bidding requirements, just as the registration and prequalification submissions closed on February 27, 2026.

The prequalification process completed on March 16.

Under the licensing framework, successful bidders are selected while the assets are awarded to investors depending on the financial strength and technical expertise needed for production in the country.