Nigeria has officially shifted into high gear with the launch of its 2025 Petroleum Licensing Round, offering a sprawling portfolio of 50 oil and gas blocks. This move is the cornerstone of the government’s ambitious “2.7 by 27” strategy—targeting an oil production leap to 2.7 million barrels per day (bpd) by 2027.
Under the leadership of the newly appointed NUPRC head, Oritsemeyiwa Eyesan, the regulator is sending a clear message to the world: Nigeria is lowering its barriers and digitizing its process to remain competitive in a mobile global capital market.
1. The 50-Block Portfolio at a Glance
The 2025 round offers diverse assets spread across five of Nigeria’s seven sedimentary basins, including the mature Niger Delta and the frontier Chad and Anambra basins.
| Asset Type | Number of Blocks | Focus Area |
| Onshore | 15 | Traditional land-based assets |
| Shallow-Water | 19 | Continental shelf/swamp assets |
| Frontier Basins | 15 | High-potential, under-explored inland basins |
| Deepwater | 1 | High-tech, offshore deep-sea block |
2. Lowering the Barrier: The “Signature Bonus” Slash
In a move described as a “strategic intervention” to attract serious long-term players, the NUPRC has drastically reduced the Signature Bonus (the upfront fee for winning a block).
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New Pricing (2025): $3 million – $7 million
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The Comparison: This is a massive drop from the $200 million required in previous years and even a reduction from the $10 million benchmark set in 2024.
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The Logic: The government is prioritizing technical capability and speed to production over immediate cash bids. They want companies that can start drilling immediately, rather than those who just have deep pockets but slow timelines.
3. Institutionalizing Transparency: NEITI and Digital Portals
To rebuild investor trust, the NUPRC has integrated the Nigeria Extractive Industries Transparency Initiative (NEITI) into the oversight of the bidding process.
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Fully Digital Workflow: From data acquisition to the final commercial bid conference, the entire process is hosted on an online portal.
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Transparency Commitment: By automating the evaluation scores and holding real-time digital bid conferences, the regulator aims to eliminate “human interference” and corruption.
4. Major Player Interest: Chevron and TotalEnergies
Global energy giants are already circling the new opportunities:
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TotalEnergies: After securing assets in the 2024 mini-bid round, the French major has reaffirmed its “strong interest” in the 50-block auction, citing improved regulatory clarity under the Petroleum Industry Act (PIA).
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Chevron: The U.S. giant confirmed its participation and has already moved to acquire a 40% stake in two deepwater exploration licenses (PPL 2000 and 2001) as part of its renewed focus on Nigeria.
5. The “2.7 by 27” Production Roadmap
Current production sits around 1.5 million bpd, but the 2025 round is expected to:
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Attract $10 Billion in new investments.
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Add 2 Billion Barrels to the national oil reserves over the next decade.
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Deploy 70 Rigs: National rig counts are already climbing, with a target to have 40+ rigs active simultaneously across the country.
The Verdict: Nigeria is no longer just “offering oil”; it is actively re-engineering its upstream sector to be the “beautiful bride” of global energy capital.
