Nigeria’s Oil & Gas Licensing Round to Commence Next Week
By: NaijaEnquirer Staff
Nigeria’s next oil and gas licensing round is scheduled to open in less than a week, following formal approval by President and Minister of Petroleum Resources, Bola Ahmed Tinubu.
The announcement was confirmed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which stated that the round will officially commence on December 1, marking a major milestone in the federal government’s efforts to attract fresh upstream investments into the country.
According to the Commission Chief Executive (CCE), Engr. Gbenga Komolafe, the industry has recorded significant activity in anticipation of the bidding round. He revealed that 46 Field Development Plans (FDPs) have been approved between January 2025 and now — approvals that he says represent immediate capital inflows and near-term production growth opportunities.
Komolafe further disclosed that Nigeria’s rig count has risen to over 60, with at least 40 rigs currently active and drilling. He described the surge in rig activity as a clear indicator of renewed confidence in Nigeria’s upstream investment environment.
He added that the current momentum presents “the best time for existing investors to deepen their stake in Nigeria,” emphasizing that the licensing round comes at a critical time when the country is witnessing sustained operational growth.
The upcoming bid round is expected to unlock new assets, boost local and foreign participation, and strengthen the government’s long-term target of increasing national production capacity.
