NUPRC urges prequalified applicants to submit technical and commercial bids as Nigeria targets $10 billion investment in the oil and gas sector.
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has fixed June 12, 2026, as the deadline for the submission of technical and commercial bids by prequalified applicants participating in the ongoing 2025 Licensing Round.
In a notice issued on Tuesday, the commission urged all qualified bidders to adhere strictly to the timelines outlined in the licensing guidelines, noting that submissions will close by 4:30 p.m. (WAT).
The 2025 Licensing Round, conducted under the Petroleum Industry Act (PIA), is aimed at attracting investment, boosting hydrocarbon production, and unlocking dormant oil and gas assets across the country.
The exercise, which opened in December 2025, offered 50 oil and gas blocks, including onshore, shallow-water, frontier, and deep-water assets. The Federal Government projects that the licensing round could attract about $10 billion in investments and unlock approximately two billion barrels of oil over the next decade.
NUPRC completed the prequalification stage in March and has already notified successful applicants. The commission said the successful conclusion of the bid stage will pave the way for the eventual award of oil blocks.
Meanwhile, preparations are underway for the 2026 Licensing Round, which has already received ministerial approval and is expected to commence before the third quarter of 2026.