The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on global investors to participate in the country’s 2025 oil and gas licensing round, highlighting new regulatory frameworks designed to enhance transparency and attract foreign capital to Nigeria’s upstream sector.
The invitation was delivered by NUPRC Chief Executive Oritsemeyiwa Eyesan during the opening of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos on February 10, 2026. The commission emphasized that reforms enacted under the Petroleum Industry Act (PIA) of 2021 have established a more predictable and investor-friendly environment.
“Nigeria is leveraging the momentum of renewed global interest in Africa’s hydrocarbons to attract credible investors into its upstream sector,” Eyesan stated. The 2025 licensing round offers 50 exploration blocks across various geological terrains, representing a targeted strategy to responsibly develop the nation’s significant reserves.
The PIA, which restructured the industry after years of legislative delay, introduced clearer regulatory processes, revised fiscal terms, and strengthened institutional governance. According to the NUPRC, these changes have reduced investment risk and improved certainty for companies operating in Nigeria.
Analysts note that Africa’s share of global oil and gas capital expenditure has grown in recent years, with major international energy firms increasingly focusing on the continent. Nigeria, historically Africa’s largest oil producer, is positioning itself to capture a larger portion of this investment flow through its regulatory overhaul and the current licensing initiative.
The commission’s appeal comes amid broader efforts to revitalize Nigeria’s upstream sector, which has faced challenges including security concerns and contractual complexities. By offering new blocks under the PIA regime, Nigeria aims to stimulate exploration, boost reserves replacement, and increase government revenue from hydrocarbon production.
Interested parties are expected to engage with the NUPRC’s formal bidding process, details of which will be published through official channels. The commission has reiterated its commitment to conducting the round with transparency and in alignment with international best practices.
This initiative represents a critical step in Nigeria’s long-term strategy to modernize its petroleum sector and sustain its role as a key global energy supplier. Successful licensing could pave the way for new field development, job creation, and increased export earnings over the coming decade.
