The Federal Government says 13 of the 50 oil and gas blocks offered during the 2025 Licensing Round will be returned to the national licensing basket after receiving no bids from investors at the commercial bidding stage.
The Federal Government has announced that 13 oil and gas blocks offered during the 2025 Licensing Round will be returned to the national licensing basket after they failed to attract bids from prospective investors.
The disclosure was made on Tuesday by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, during the 2025 Commercial Bid Conference in Abuja.
According to Eyesan, although 50 oil and gas blocks were offered across several sedimentary basins in Nigeria, only 37 blocks attracted interest from investors, leaving 13 without any commercial representation.
143 Companies Submitted About 200 Bids
Eyesan said the licensing exercise still recorded strong investor participation despite the unbid blocks.
She disclosed that 143 companies participated in the commercial bid process, submitting about 200 bids for the available assets.
According to her, the process initially attracted interest from nearly 300 companies, but the number reduced to 196 after the prequalification stage before progressing to technical and commercial evaluations.
“At the end of the exercise, we had 50 blocks on offer, but we only had representation for 37 of those 50 blocks. Thirteen of those blocks will be returning back to the basket,” Eyesan said.
Why the Blocks Are Returning to the Licensing Pool
The NUPRC explained that blocks which failed to receive bids would remain in the government’s licensing basket and could be offered again during future licensing rounds.
The commission noted that returning the assets to the licensing pool ensures they remain available for future investors while preserving transparency in the allocation process.
Licensing Round Conducted Under Petroleum Industry Act
The 2025 Licensing Round was launched on November 11, 2025, under the provisions of the Petroleum Industry Act (PIA) 2021.
The exercise offered 50 oil and gas blocks spread across seven sedimentary basins, including:
- Niger Delta Onshore
- Niger Delta Shallow Water
- Niger Delta Deep Offshore
- Benin Basin
- Anambra Basin
- Chad Basin
- Benue Trough
The bid portal opened in December 2025, while registration and prequalification closed in February 2026 before technical and commercial evaluations were completed.
FG Targets Stronger Upstream Investment
Despite the 13 unbid blocks, Eyesan described the licensing round as a positive signal for Nigeria’s upstream petroleum industry.
She said the level of participation demonstrated renewed investor confidence following reforms introduced under the Petroleum Industry Act.
The NUPRC also explained that winning bids would not be determined solely by the highest financial offer but through a weighted assessment of:
- Signature bonus commitments
- Proposed work programmes
- Performance security
- Technical capability
- Financial strength
The commission said the approach is designed to ensure that oil and gas assets are awarded to companies capable of developing them efficiently and increasing national production.
Nigeria has continued to reform its upstream petroleum sector under the Petroleum Industry Act, with licensing rounds aimed at attracting fresh investment, boosting crude oil production and expanding natural gas development.
Industry analysts say investor appetite for individual assets often depends on commercial viability, geological prospects, fiscal terms and prevailing global energy market conditions.
The 13 unbid blocks are expected to remain available for future licensing exercises should market conditions improve.