After years of opaque allocations, Nigeria’s latest seven‑hour oil block bidding saw 31 winners from 143 bidders, but doubts over transparency and capacity persist as the 2026 round approaches, DAMILOLA AINA reports
For years, the allocation of Nigeria’s oil blocks was often associated with long gaps between licensing rounds, regulatory uncertainty and questions about how the country’s prized petroleum assets were awarded.
But on Tuesday, the process unfolded in full view.
Inside the lavishly decorated green-and-white hall of the Transcorp Centre in Abuja, more than 50 tables were occupied by oil executives, bidders, observers, regulators and journalists, all focused on the screens and proceedings that would determine the next owners of Nigeria’s oil and gas assets.
The atmosphere was a sharp departure from the uncertainty that had long characterised the allocation of the country’s petroleum assets. For hours, companies competed for blocks in a transparent and closely watched process, each
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