FG woos global investors to invest in 50 oil blocks under 2025 licensing round

By Udeme Akpan

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has urged global investors to capitalise on opportunities in Nigeria’s 2025 licensing round, offering 50 oil and gas blocks across diverse terrains.

The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, made the call on Tuesday at the opening of the 10th anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026 in Lagos.

Eyesan said the licensing round is structured to unlock Nigeria’s upstream potential under the predictable and transparent regulatory framework established by the Petroleum Industry Act (PIA) 2021.

“To facilitate resource access, Nigeria has launched the 2025 licensing round, offering 50 oil and gas blocks across various terrains,” she said.

“This initiative reflects a targeted approach to responsible resource development. We invite capable investors to participate and help realise Nigeria’s promising upstream potential.”

She emphasised that reforms under the PIA have strengthened regulatory certainty, improved transparency and enhanced investor confidence in Nigeria’s upstream sector.

According to her, Nigeria is leveraging renewed global interest in Africa’s hydrocarbons to attract credible and technically competent investors.

Eyesan noted that Africa’s energy investment outlook has improved significantly over the past three years, with the continent now capturing a larger share of global capital expenditure.

“Of the $520 billion projected in worldwide capital investment this year, Africa expects to attract between $48 billion and $50 billion — over eight per cent of the total. This marks a significant rise from previous years when the continent accounted for less than four per cent,” she said.

She attributed the resurgence to renewed investor appetite for both frontier and established basins, particularly in Nigeria, Namibia, Mozambique and other prolific African plays.

Beyond foreign capital inflows, Eyesan stressed the importance of strengthening domestic and regional financing as a stabilising force for Africa’s energy future.

“As we work to draw in more external investment, encouraging capital formation within Africa remains essential. Domestic capital brings stronger commitment and stability, creating more opportunities for sustainable development,” she said.

She added that African independent operators are playing an increasingly prominent role in Nigeria’s upstream sector, driving project execution and capital deployment.

A major milestone in indigenous financing, she noted, is the establishment of the Africa Energy Bank, headquartered in Nigeria.

“The creation of the Africa Energy Bank, proudly hosted in Nigeria, is a milestone. Unified support from stakeholders will be crucial to its success,” she said.

Eyesan also highlighted the growing impact of regional cooperation, particularly in gas development, power infrastructure expansion and regulatory alignment.

“Beyond national efforts, regional cooperation is having a transformative effect,” she said, pointing to expanded gas and power infrastructure aimed at improving energy access, reliability and affordability across the continent.

She added that platforms such as the African Petroleum Regulators’ Forum (AFRIPERF) are strengthening Africa’s collective voice in global energy discourse.

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