• About Us
  • Advertise
  • Privacy & Policy
  • Contact Us
  • Terms and Conditions
Tuesday, March 17, 2026
Verily News
No Result
View All Result
  • News
    • Breaking News
    • Global News
  • Politics
    • Political Analysis
    • Government & Policies
  • Business & Economy
    • DIY and FAQ
    • Product Reviews
  • Entertainment
    • Sports
    • Movie
    • Music
  • Technology
  • Trends
  • Fact-Check
    • Investigative Reports
  • Opinion
  • Share your story
  • News
    • Breaking News
    • Global News
  • Politics
    • Political Analysis
    • Government & Policies
  • Business & Economy
    • DIY and FAQ
    • Product Reviews
  • Entertainment
    • Sports
    • Movie
    • Music
  • Technology
  • Trends
  • Fact-Check
    • Investigative Reports
  • Opinion
  • Share your story
No Result
View All Result
No Result
View All Result
Home Business & Economy

NUPRC Shortlists Successful Applicants for 2025 Oil Licensing Round

March 17, 2026
in Business & Economy
Reading Time: 3 mins read
0
NUPRC
Share on FacebookShare on TwitterShare on Linkedin
Spread the love

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially signaled the end of the “window-shopping” phase for the country’s 2025 oil and gas licensing round, transitioning from administrative screening to high-stakes competitive bidding.

In a statement released Tuesday, March 17, 2026, the Commission confirmed that the pre-qualification process, a rigorous vetting exercise designed to separate serious investors from speculative briefcase firms, was completed on March 16.

Successful applicants have already been formally notified, marking a pivotal milestone in President Bola Tinubu’s ambitious drive to revitalize the nation’s upstream sector.

The Commission, through its Head of Media and Strategic Communication, Eniola Akinkuotu, emphasized that the gates to Nigeria’s subsurface data are now open but only for those who have scaled the initial hurdle.

Beginning today, March 17, qualified firms will be granted access to lease critical geological and geophysical data. This step is far from a formality; it is a strategic filter.

By mandating evidence of data purchase from two approved sources as a prerequisite for bid submission, the NUPRC is enforcing a “pay-to-play” model aimed at ensuring technical and financial credibility.

“The emphasis on paid data access reflects a deliberate shift by the Commission to ensure that only serious and technically capable investors proceed,” the statement noted, underscoring a push for transparency and international standardization.

Launched in December 2025, this licensing round is one of the most significant in recent years, offering “50 oil and gas blocks.” The assets are strategically spread across Nigeria’s varied geological landscape, including:

The Niger Delta: The traditional heartland of Nigerian production.
Frontier Basins: The Anambra, Bida, Benue Trough, and Chad basins.

The inclusion of these frontier basins highlights the government’s intent to diversify exploration activities beyond the coastal regions, aiming to boost national reserves and secure long-term crude production growth.

Following the closure of the submission window on February 27, 2026, the NUPRC has moved at a brisk pace to meet its March 16 deadline for pre-qualification. To maintain the integrity of the process, the Commission has directed all participants to a dedicated digital portal.

This digital-first approach is intended to:

  1. Enhance Accountability: Providing a clear audit trail for every bid and payment.
  2. Reduce Bureaucracy: Streamlining the transition from technical evaluation to commercial awards.
  3. Boost Investor Confidence: Shielding the process from the manual bottlenecks that have historically dogged Nigerian licensing rounds.

With the technical and commercial bidding phase now live, qualified companies must move quickly to analyze subsurface data and prepare their submissions.

The NUPRC has reiterated that final awards will be based on a rigorous evaluation of these bids, with a keen eye on companies that demonstrate the capacity to turn these blocks into producing assets.

WHAT YOU SHOULD KNOW

Nigeria has officially moved from the administrative phase to the active bidding stage for its 2025 oil and gas licensing round.

NUPRC is shifting toward technical integrity. It has mandated only pre-qualified companies that purchase formal geological data to bid; the regulator is effectively “professionalizing” the process, filtering out speculative bidders to ensure that the 50 available blocks end up in the hands of investors with the actual intent and capital to boost national production.

Tags: NUPRCoil blocksOil Licensing
Share198Tweet124Share35
Previous Post

Tinubu Orders Security Chiefs to Relocate to Maiduguri

Next Post

President Tinubu Departs Nigeria

Related Posts

Marketers

Oil Marketers Stifled by High Costs and Debt

by Victoria Ogbadu
March 17, 2026
0

The Nigerian downstream petroleum sector is currently navigating a "perfect storm" of geopolitical volatility and credit-market strain, leaving independent marketers...

Gold

Gold Inches Higher as Markets Weigh Two Factors

by Victoria Ogbadu
March 17, 2026
0

Safe-haven demand pushed gold prices slightly higher on Tuesday morning as investors navigated a complex landscape of geopolitical tension in...

Naira

Naira Maintains Recovery Trend as Official Rate Settles at ₦1,355/$

by Victoria Ogbadu
March 17, 2026
0

The Nigerian Naira continued its resilient streak against the U.S. Dollar on Monday, closing at ₦1,355/$ in the official market....

Oil

Oil Prices Surge 3% as Hormuz Strait Remains Shut

by Victoria Ogbadu
March 17, 2026
0

Global oil futures jumped sharply on Tuesday, clawing back much of the previous day’s heavy losses as fresh fears gripped...

Dangote

Dangote Signs $4.2 Billion Gas Deal with China’s GCL

by Victoria Ogbadu
March 17, 2026
0

Aliko Dangote, Africa's wealthiest industrialist, has inked a massive $4.2 billion, 25-year natural gas supply agreement with China's Golden Concord...

Load More
Next Post
President Tinubu Departs Nigeria

President Tinubu Departs Nigeria

Iran's security chief Ali Larijani

Israel Claims Killing of Iran Security Chief

Naira

Naira Maintains Recovery Trend as Official Rate Settles at ₦1,355/$

Soludo Sworn In as governor

Soludo Sworn In for Second Term

Gold

Gold Inches Higher as Markets Weigh Two Factors

The Defence Headquarters

REVEALED: Army Warns of More Suicide Bombers

Marketers

Oil Marketers Stifled by High Costs and Debt

Spotify

Spotify Payouts to Nigerian Artists Reach ₦60 Billion In 2025

The Office of the Accountant-General of the Federation (OAGF) has begun paying February 2026 salaries to federal workers on the treasury payment system.

Labour Demands New Minimum Wage

Love and New Notes

Love and New Notes Becomes West Africa’s Number 1 Film of 2026

Please login to join discussion
  • Trending
  • Comments
  • Latest
cbn governor olayemi cardoso

CBN Approves Merger Between Two Banks

February 23, 2026
2027: APC Governors Endorse Next Senate President After Akpabio

APC Governorship Candidate Joins ADC

March 16, 2026
NNPC Increases Petrol Price

NNPC Reduces Fuel Price

March 17, 2026
Rihanna

Rihanna: Vibrant Star Elevating Nigerian Fashion Trends

1
Markets

European Markets Fall as French Government Crisis Deepens, Trump Fires Fed Governor

1
Kenya Airways

Viral video: Drama at Airport as Nigerian Woman Clashes with Kenya Airways Over Visa Issue

0
Trump Mentions Next Country to Attack After Iran

Trump’s Counterterrorism Chief Resigns

March 17, 2026
Oba of Benin and Peller

Benin Palace Sanctions Officials Over Peller Visit

March 17, 2026
Tinubu arrives in UK

Tinubu Arrives in UK for Historic State Visit

March 17, 2026
Verily News

Copyright © 2025 Verily News.

Navigate Site

  • About Us
  • Advertise
  • Privacy & Policy
  • Contact Us
  • Terms and Conditions

Follow Us

No Result
View All Result
  • News
    • Breaking News
    • Global News
  • Politics
    • Political Analysis
    • Government & Policies
  • Business & Economy
    • DIY and FAQ
    • Product Reviews
  • Entertainment
    • Sports
    • Movie
    • Music
  • Technology
  • Trends
  • Fact-Check
    • Investigative Reports
  • Opinion
  • Share your story

Copyright © 2025 Verily News.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Get Breaking News Alerts on WhatsApp