By Our Correspondent

National News – The Nigerian Upstream Petroleum Regulatory Commission has announced that it has completed the pre-qualification stage of the 2025 oil and gas licensing round, moving Nigeria closer to the competitive bidding phase for 50 oil and gas blocks.

The development marks a significant step in the country’s plan to attract fresh investment into its upstream petroleum sector and strengthen long-term crude oil production.

The regulator confirmed that successful applicants have been formally notified after meeting the requirements outlined in the 2025 Licensing Round Guidelines.

With the screening process concluded, only companies that passed the pre-qualification stage will now be allowed to access subsurface geological and geophysical data required to prepare their technical and commercial bids.

According to the commission, the next stage of the process allows qualified firms to lease critical exploration data beginning March 17, 2026.

This information is necessary for investors to properly evaluate the oil and gas assets before submitting competitive bids.

The commission emphasised that access to subsurface data will be strictly regulated.

Companies must obtain the data from approved sources and provide proof of payment before their bids will be accepted.

This measure is designed to ensure transparency and discourage speculative participation by firms that lack technical or financial capacity.

Industry analysts say the move reflects Nigeria’s effort to improve credibility in the oil licensing process and ensure that only serious investors compete for the available blocks.

The structured process is also expected to boost investor confidence and enhance fairness in the bidding exercise.

The 2025 licensing round was officially launched in December 2025 after receiving approval from President Bola Tinubu.

The exercise offers 50 oil and gas blocks located across several major sedimentary basins, including the Niger Delta, Anambra Basin, Bida Basin, Benue Trough and the Chad Basin.

Authorities believe the licensing round will encourage increased exploration activities, expand Nigeria’s proven oil reserves and support long-term production growth.

With the pre-qualification stage now completed, the focus shifts to technical and commercial bid submissions.

Once bids are evaluated, the government will proceed with the final award of the oil blocks to successful investors, marking one of Nigeria’s most closely watched upstream investment exercises in recent years.