The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a final call to prospective investors, announcing that the window for pre-qualification applications for the Nigeria 2025 Licensing Round will officially close on Friday.

The Commission, in a public notice released on Wednesday, stated that the registration and submission portal will be closed at 4:30 pm on Friday, February 27, 2026, in accordance with Section 11.2 of the Licensing Round Guidelines.

“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) hereby notifies the general public that registration and submission of applications for Pre-Qualification under the Nigeria 2025 Licensing Round shall close at 4.30pm on Friday, 27 February 2026, in accordance with Section 11.2 of the Licensing Round Guidelines.

“All Applicants are advised to ensure full compliance with the stipulated submission requirements within the prescribed timeline,” the notice read.

The Nigerian government, under the Licensing round which commenced in December 2025, is offering 50 oil and gas blocks across onshore, swamp/shallow water and offshore terrains spanning diverse basins.

The government expects to attract about $10 billion in investments through the licensing round. It is also expected to add up to 2 billion barrels of oil output over the next 10 years with an estimated 400,000 barrels/Day of production volumes when the blocks are fully operational.

Oritsemeyiwa Eyesan, Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum

Regulatory Commission (NUPRC) recently explained that signature bonuses for the licensing round are set within a value range that reduces entry barriers and places greater weight on technical capability, credible work programs, financial strength, and the ability to deliver production within the shortest possible time.

Eyesan explained that the reduction of the signature bonus which now ranges between $3 million and $7 million, was aimed to increase competitiveness and in response to capital mobility.

For Eyesan, the 2025 Licensing Round is not merely a bidding exercise but a clear signal of Nigeria’s deliberate effort to reposition its upstream sector for serious, long-term investment.

The CCE noted that while investment capital is increasingly selective and disciplined, Nigeria’s priority is to attract capital, grow reserves, improve production in a responsible and sustainable manner.

She said, “To therefore achieve this objective, a structured, transparent licensing round is essential. Nigeria is ready to be the beautiful bride to capital and playroom for advanced technological deployment for hydrocarbon recovery.

“The Nigerian Upstream Petroleum Regulatory Commission is mandated by law to conduct licensing rounds in a periodic, transparent, open, and fully competitive manner. In furtherance of this, the 2025 Licensing Round, the entire process will be guided strictly by published rules. Our guidelines, model contracts, bid parameters, and evaluation criteria will be clearly defined, publicly available, and fully enforceable.

“With the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, signature bonuses for the 2025 Round are now set within a value range that reduces entry barriers and places greater weight on what truly matters: technical capability, credible work programs, financial strength, and the ability to deliver production within the shortest possible time.”

The process follows five steps: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference. Only candidates with strong technical and financial credentials, professionalism, and credible plans move forward. Winners are chosen through a transparent, merit-based procedure. (BusinessDay)