The Federal Government has announced that 13 oil and gas blocks offered during the 2025 Licensing Round will be returned to the national licensing pool after failing to attract investor interest.
Speaking at the 2025 Commercial Bid Conference in Abuja, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, disclosed that while 50 oil and gas blocks were put up for bidding, only 37 received bids from prospective investors.
Despite the unbid assets, Eyesan described the exercise as successful, revealing that 143 companies submitted about 200 commercial bids, following an initial expression of interest from nearly 300 firms. She noted that the strong participation reflects growing investor confidence in Nigeria’s upstream petroleum sector.
