The Federal Government has announced that 13 out of the 50 oil and gas blocks offered under the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, disclosed this on Tuesday at the 2025 Commercial Bid Conference in Abuja.
Eyesan explained that while 50 blocks were initially offered, only 37 received interest from prospective investors. “At the end of the exercise, we had 50 blocks on offer, but only 37 had representation. Thirteen of those blocks will be returning back to the basket,” she said.
She revealed that 143 companies submitted about 200 bids, noting that nearly 300 firms had initially expressed interest in the round. “That, in my view, was an indication that the tide has turned for Nigeria,” she added.
According to Eyesan, the number of interested companies was reduced to 196 after the
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