Nigeria To Launch 2025 Oil Licensing Round December 1

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the official commencement of the 2025 Oil Licensing Round, set to begin December 1, 2025, as part of renewed efforts to attract global investment and ramp up national crude oil production capacity.

Engineer Gbenga Komolafe, the Commission Chief Executive (CCE) of the NUPRC, announced this during the Project 1MMBOPD Additional Production Investment Forum held in London on Tuesday.

Komolafe said the exercise had received formal approval from President Bola Ahmed Tinubu, who also serves as Nigeria’s Minister of Petroleum Resources, in line with the Petroleum Industry Act (PIA).

“We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, to commence the 2025 licensing round beginning from December 1, 2025,” Komolafe said.

The London forum, attended by CEOs of oil companies, financial institutions, and global investors, forms part of NUPRC’s strategic push to unlock fresh capital inflows into Nigeria’s upstream oil and gas sector.

Komolafe identified funding constraints as one of the biggest hurdles facing the industry, noting that the Commission intends to act as a business enabler by connecting investors and operators to facilitate project financing.

“One of the factors that affected business is that activities were happening in silos. The NUPRC now realises the need to bring everyone together,” Komolafe said. “We want you all to network. Bank of America is here as well as representatives of other banks.”

He emphasised that the Project 1MMBOPD initiative aims to increase Nigeria’s oil output by an additional one million barrels per day, leveraging new exploration opportunities and streamlined regulatory processes under the PIA.

The 2025 Licensing Round marks another major step in Nigeria’s post-reform upstream investment agenda, coming amid heightened competition for capital in the global oil market.

The NUPRC has promised transparent and investor-friendly processes, prioritising both indigenous and international participation.

Industry analysts note that the announcement aligns with President Tinubu’s broader energy sector reforms designed to stabilise production, diversify energy sources, and boost foreign exchange earnings.

The event also highlighted the growing collaboration between regulators, oil majors, and financial institutions in bridging the funding gap for upstream projects.