(Oil rig. Photo by Punch News)
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has fixed Friday, June 12, 2026, as the deadline for the submission of technical and commercial bids by prequalified applicants participating in the country’s ongoing 2025 Licensing Round.
The commission disclosed this in a notice posted on its official social media handle on Tuesday, urging all qualified bidders to comply strictly with the timelines stipulated in the licensing guidelines.
“The NUPRC hereby notifies the general public that submission of Technical and Commercial Bids by Prequalified Applicants for the 2025 Licensing Round closes on Friday, June 12, 2026, at 16:30 hours (WAT) in line with the 2025 Licensing Round Guidelines,” the notice read.
The commission advised interested stakeholders to obtain further details through the official licensing round portal.
The announcement signals the transition of the exercise into one of its most critical phases, as investors compete for opportunities in Nigeria’s upstream sector amid renewed government efforts to attract capital and boost hydrocarbon production.
The two-stage process qualification followed by bidding requires shortlisted firms to lodge final proposals by the stated deadline.
The 2025 Licensing Round, conducted under the provisions of the Petroleum Industry Act, forms part of the Federal Government’s broader strategy to unlock dormant hydrocarbon assets, deepen exploration activities and improve the country’s reserve base.
The round, opened in December, offered 50 oil and gas blocks intended to attract around $10 billion in investment.
The portfolio included 15 onshore blocks, 19 shallow-water blocks, 15 frontier blocks and one deep-water block.
The NUPRC projects that the round could unlock around 2 billion barrels of oil over the next decade and potentially add about 400,000 barrels per day when fully developed.
The commission completed the prequalification stage in March and notified successful applicants accordingly.
The latest update also comes amid preparations for another licensing exercise expected to commence later this year.
Only days ago, the Commission Chief Executive of the NUPRC, Mrs Oritsemeyiwa Eyesan, announced that the 2026 Licensing Round had secured ministerial approval and would commence no later than the third quarter of 2026, with preparations already underway as authorities seek to sustain investor confidence in Nigeria’s oil and gas sector.
Eyesan expressed satisfaction with progress recorded in the ongoing 2025 round, noting that the commercial bid stage would precede the launch of the 2026 exercise.
The development underscores the regulator’s determination to institutionalise annual licensing rounds in line with the Petroleum Industry Act, which provides a transparent and competitive framework for the allocation of petroleum assets.