The Federal Government of Nigeria has announced that 13 of the 50 oil and gas blocks offered in the 2025 Licensing Round will be returned to the licensing basket due to a lack of bids.

Oritsemeyiwa Eyesan, CEO of the Nigerian Upstream Petroleum Regulatory Commission, made this known at the 2025 Commercial Bid Conference in Abuja. He reported that only 37 blocks received interest from prospective investors.

A total of 143 companies submitted approximately 200 bids, highlighting renewed interest in Nigeria’s upstream petroleum sector. The licensing round initially attracted interest from nearly 300 companies.

The exercise aligns with the Petroleum Industry Act 2021 and involves assets spread across various sedimentary basins. The bidding process included technical and commercial evaluations, with a focus on investors’ financial strength and technical capabilities. These factors defined the criteria for contract awards.