The competition for Nigeria’s oil and gas assets witnessed dramatic turns at the 2025 licensing round organised by the Nigerian Upstream Petroleum Regulatory Commission, as several companies committed millions of dollars in additional signature bonuses to break deadlocks and secure winning or reserve bidder positions.
An analysis of the bidding process and proceedings of the Commercial Bid Conference by The PUNCH on Wednesday showed that intense tie-breaker contests were recorded for PPL 2A29, PPL 2A39, PPL 2A40, PPL 2A42, PPL 2A43 and PPL 2A51 after competing companies recorded the same aggregate scores at the end of the initial evaluation.
Under the licensing process, a tie does not produce joint winners. Rather, where two or more companies obtain the same aggregate score for a block, the affected bidders are invited to participate in a tie-breaker round by submitting fresh signature bonus offers.
The company with the highest additional signature bonus emerges
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