Danjuma Amodu | January 29, 2026
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reduced the signature bonus for the 2025 licensing round to between $3 million and $7 million, a significant drop from $10 million in 2024 and $200 million previously.
The commission has opened 50 oil and gas blocks across five sedimentary basins for bidding, aiming to attract $10 billion in new investments.
NUPRC Chief Executive, Oritsemeyiwa Eyesan, announced the development at a pre-bid webinar, stating that the reduction aims to lower entry barriers and attract serious investors. The blocks include 15 onshore, 19 shallow-water assets, 15 frontier basins, and one deepwater block.
Eyesan emphasized that the licensing round is a strategic move to grow Nigeria’s hydrocarbon reserves, boost production, and strengthen energy security. The commission has adopted a merit-based approach, prioritizing technical competence, financial capacity, and professionalism.
The new bonus, which has presidential approval, is a reduction from the $10 million paid in 2024 and a huge drop from the approximately $200 million required some years ago.
She said, “With the approval of His Excellency, President Bola Tinubu, signature bonuses for the 2025 licensing round are now set within a value range of $3m–$7m that reduces entry barriers and places greater weight on what truly matters, technical capability, credible work programmes, financial strength, and the ability to deliver production within the shortest possible time.’’
According to her, the decision was informed by global capital mobility and the need to make Nigeria competitive in attracting serious, long-term upstream investors.
“This has been done deliberately to increase competitiveness and in response to capital mobility. The upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility,” Eyesan stated.
The NUPRC boss assured investors that the changes for the round, the first she will oversee since her appointment in December, will provide a stable and predictable regulatory environment.
“You are not navigating uncertainty, you are operating with a framework that is transparent, predictable, and deliberately designed to inspire confidence,” she said.
She said, “This upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility as we work together to shape the next phase of Nigeria’s upstream oil and gas industry.’’
According to her, the commission has adopted a strictly merit-based approach that places technical competence and financial capacity at the centre of the selection process.
“Only candidates with strong technical and financial credentials, professionalism, and credible plans will move forward. Winners will be chosen through a transparent, merit-based process that takes you from award to exploration, appraisal, and ultimately full production.
The NUPRC boss said the licensing round follows a five-stage process comprising registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.
She stressed that the entire exercise would comply strictly with the Petroleum Industry Act 2021, with digital tools deployed to ensure transparency and public accountability.
“Let me emphasise clearly that the bid process will comply with the Petroleum Industry Act, promote the use of digital tools for smooth data access and remain open to public and institutional scrutiny through NEITI and other oversight agencies,” Eyesan said..
The NUPRC had in December 2025, officially launched the 2025 Licensing Round, introducing a digital bid portal as the country moves to deepen investment and strengthen activities in the upstream sector.
