The Federal Government returned 13 oil blocks to the licensing basket on Tuesday after they failed to attract bids in the 2025 Licensing Round.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission Oritsemeyiwa Eyesan disclosed the development at the 2025 Commercial Bid Conference in Abuja. She said the government initially offered 50 oil and gas blocks. Only 37 blocks received interest from prospective investors.
“Thirteen of those blocks will be returning back to the basket,” Eyesan stated. She added that the move allows the government to re-offer the assets in future rounds.
Eyesan noted positive aspects of the process. Almost 300 companies expressed initial interest. The number was reduced to 196 after prequalification. In the end, 143 companies submitted about 200 bids for the available blocks.
“This, for us, was remarkable,” Eyesan said. She described the initial interest as a sign that investor confidence in Nigeria’s upstream sector had improved.
The 2025 Licensing Round covered blocks across seven sedimentary basins. These included 16 Niger Delta onshore blocks, 18 shallow water blocks, and others in the Benin, Anambra, Chad, and Benue basins.
The government evaluated bids through a weighted system. Factors included signature bonus commitments, proposed work programmes, and performance security.
Officials combined technical and commercial scores instead of relying solely on financial offers. This approach aimed to select investors with strong financial and operational capabilities.
The Federal Government will now reintroduce the 13 blocks into the licensing basket. Authorities plan to attract new bids that meet the sector’s development goals. The decision followed the Petroleum Industry Act 2021 framework, which guides transparent asset allocation.
