NUPRC assures of more transparent, globally competitive 2025 Oil Licensing Round

The Commission Chief Executive (CCE) Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, an engineer, has assured that the 2025 oil licensing round will be more transparent and globally competitive than the 2024 round.
Komolafe spoke at a two-day strategic media workshop for Energy Correspondents in Lagos, where he declared that “the Commission will conduct another licensing round on December 1, 2025.” He was represented at the event by the Commission’s Deputy Director of Human Resources, Corporate Services and Administration, Efemona Bassey.
The Commission boss assured that the country’s oil sector is on the growth path irrespective of global investment in the sector.
“Globally, investments in oil and gas are declining as countries intensify the shift towards cleaner energy. Despite this global headwind, Nigeria has continued to record steady, measurable progress in the upstream sector. This has been driven by the Commission’s regulatory instruments developed under the PIA and further reinforced by President Bola Tinubu’s far-reaching Executive Orders.
“Accordingly, this year alone, Nigeria’s daily crude oil production has, on multiple occasions, exceeded 1.7 million barrels per day, demonstrating our capacity to surpass OPEC targets.
“Our rig count has risen to nearly 70, with over 40 rigs active. Final Investment Decisions valued in billions of dollars have been taken, and within the last 10 months, we have approved Field Development Plans worth approximately $20 billion,” he stated. Komolafe reiterated that the NUPRC remains fully committed to the national aspiration of adding one million incremental barrels of oil per day to the nation’s daily production profile.
“To this end, the Commission will conduct another licensing round on December 1, 2025, one that we anticipate will be even more transparent and globally competitive than the 2024 round. This initiative is designed to open new frontiers, unlock fresh prospects and further strengthen our reserves base,” he said.
He assured that NUPRC remains committed to deepening transparency. “As the custodian of upstream data, we consistently publish updates on our website, across our social media platforms and through our quarterly magazine, The Upstream Gaze. We will continue to strengthen these channels and expand access to accurate, timely information,”
The NUPRC boss said: “As we advance these reforms and attract much-needed investments, the role of the media becomes more critical. Nigeria’s position as Africa’s leading producer depends not just on policy, regulation and geology, but also on how the nation’s story is told. The oil and gas sector is highly sensitive to perception and your reporting has the power to reassure investors or deter them”.
He applauded the media for their role in the growth path, echoing President Bola Tinubu’s statement urging them to “report boldly, but do so truthfully. Critique government policy but do so with knowledge and fairness. Your aim must never be to tear down, but to help build a better society.”
He said the engagement underscores the high value in which the NUPRC holds the media, given its strategic role as society’s watchdogs and the stewards of public trusts on information dissemination.