NUPRC to commence 2025 oil licensing round, December
By Olakunle Oke
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, which will officially begin on December 1, 2025.
The Chief Executive of the Commission, Engr. Gbenga Komolafe, made the announcement at the NUPRC’s Project 1MMBOPD Additional Production Investment Forum held in London on Tuesday, November 11, 2025.
Komolafe said the development followed the approval of President Bola Ahmed Tinubu, who also serves as the Minister of Petroleum Resources, in accordance with the provisions of the Petroleum Industry Act (PIA).
“We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, to commence the 2025 licensing round beginning from December 1, 2025,” Komolafe declared.
He explained that the forum was designed to bring together stakeholders ranging from oil company executives to bankers and investors to address funding gaps and promote collaboration in achieving Nigeria’s additional one million barrels per day production goal.
“One of the factors that affected business is that activities were happening in silos, but the NUPRC now realises the need to bring everyone together. We want you all to network. Bank of America is here as well as representatives of other banks,” he added.
The NUPRC boss also highlighted that ongoing reforms by the Tinubu administration have improved key economic indicators, with crude oil production averaging 1.71 million barrels per day and peaking at 1.83 million barrels per day.
He revealed that 46 Field Development Plans (FDPs) had been approved since January 2025, signifying immediate investment commitments and production growth potential. According to him, Nigeria’s rig count has now surpassed 60, with over 40 currently active.
Komolafe noted that the quest to sustain incremental capacity above one million barrels per day would require major investments in Floating Production, Storage and Offloading (FPSO) units, Floating Storage and Offloading (FSO) vessels, modular offshore production units, and early production facilities.
Also speaking at the event, the Chairman of the House Committee on Petroleum Resources (Upstream), Hon. Alhassan Ado Doguwa, assured investors of legislative stability, affirming that the National Assembly would not enact laws that could jeopardize existing investments.
“The House of Representatives reaffirms its commitment to the PIA and will resist any arbitrary changes that will undermine investments,” Doguwa stated.
His Senate counterpart, Senator Eteng Williams, also gave similar assurances, pledging continued support through investor-friendly legislation.
Chairman of the OPEC Governing Board, Mr. Ademola Adeyemi-Bero, described the petroleum sector as central to President Tinubu’s $1 trillion economic vision and urged investors to seize the opportunities offered by the Project 1MMBOPD Forum.