The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the 2025 licensing round will begin on 1 December 2025, a step aimed at boosting the country’s crude‑oil output. The decision, approved by the Minister of Petroleum Resources and consistent with the Petroleum Industry Act (PIA), was disclosed by NUPRC Chief Executive Officer Engr. Gbenga Komolafe at the “Project 1 Million Barrels Oil Per Day” Investment Forum in London. Komolafe stressed that increasing crude production is essential to President Bola Tinubu’s ambition of expanding Nigeria’s economy to a $1 trillion size.
The announcement follows a recent presidential statement about restructuring asset ownership in the Nigerian National Petroleum Company Limited (NNPC) to reverse the decline in crude output. Special Adviser to the President on Energy, Olu Verheijen, warned that achieving the target of 3 million barrels per day will require performance‑based stewardship and questioned NNPC’s capacity to deliver incremental growth.
Nigeria’s crude production has averaged 1.3–1.5 million barrels per day over the past two years, according to OPEC data. Nonetheless, Komolafe highlighted that the 43 Field Development Plans (FDPs) approved this year could unlock 1.7 billion barrels of crude and 7.7 trillion cubic feet of gas, signalling substantial progress in the upstream sector. Major final investment decisions exceeding $20 billion have already been committed, including $5 billion for the Bonga North project, $500 million for the Ubeta Gas project, and $2 billion for Shell’s HI Gas Project.
The 2025 licensing round is expected to attract new investment and raise crude production, serving as a critical step toward the government’s broader economic and oil‑output goals. With current production levels and the identified growth potential, Nigeria’s oil and gas industry is poised for significant development in the coming years. The success of the licensing round will hinge on NUPRC’s ability to draw investors and ensure efficient execution of the approved projects.
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