NUPRC’s 2025 Oil Bid Round Rekindles Investor Confidence — Energy Alliance
The Energy Governance Alliance (EGA) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for opening the 2025 oil licensing round, describing it as a bold step that will deepen investor confidence and reposition Nigeria’s upstream sector for global competitiveness.
In a statement issued on Wednesday by its Executive Director, Dr. Kelvin Sotonye William, the alliance said the licensing round—scheduled to open officially on December 1—marks one of the most significant policy milestones since the passage of the Petroleum Industry Act (PIA).
According to Dr. William, the decision “goes beyond allocating new oil blocks; it represents a new chapter of credibility and investor confidence in Nigeria’s petroleum industry.”
“By anchoring this licensing round on transparency, data integrity, and predictable regulation, the NUPRC is sending a message to the world that Nigeria’s upstream business is once again open for fair, accountable, and profitable investment,” he stated.
The EGA praised Engr. Gbenga Komolafe, Chief Executive of the NUPRC, for his reform-driven leadership, which it said has restored order and discipline to a sector once bogged down by inefficiency and policy inconsistency.
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“Under Engr. Komolafe’s leadership, the NUPRC has become the symbol of what the PIA envisioned — a modern, independent regulator that acts as a business enabler rather than a bureaucratic bottleneck,” the group said.
It added that the Commission’s reforms are driving measurable progress, citing the approval of 46 field development plans in 2025, an active rig count exceeding 60, and crude oil production now at 1.83 million barrels per day.
“These are not abstract figures,” EGA noted. “They are proof that regulatory clarity and investor confidence are fueling Nigeria’s upstream recovery.”
The alliance also described the decision to unveil the licensing round in London as “strategic and symbolic,” saying it positions Nigeria as a credible investment hub in the global energy transition era.
“By meeting investors where they are and presenting a transparent investment case backed by reform, the NUPRC is rebuilding trust lost over decades of opacity and policy inconsistency,” the statement said.
EGA urged the Federal Government to sustain support for the Commission’s reform agenda through consistent policy implementation, capacity building, and stakeholder engagement.
“With this licensing round, Nigeria has a chance to show that transparency and profitability are not mutually exclusive. If the current momentum continues, the country can not only exceed two million barrels per day but also move closer to achieving a $1 trillion GDP,” Dr. William added.
