The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced December 1, 2025, as the date for its next oil bloc licensing auction.

The announcement was made in London on Tuesday by NUPRC’s Chief Executive, Gbenga Komolafe, during the Project 1MMBOPD Additional Production Investment Forum. He said the auction aims to attract fresh investment into Nigeria’s upstream petroleum sector.

Komolafe noted that the exercise has been approved by President Bola Ahmed Tinubu, who also serves as the Minister of Petroleum Resources, Heineken Lokpobiri, and aligns with the Petroleum Industry Act (PIA), which mandates transparency and competitiveness in the allocation of exploration assets.

“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,” he said.

Highlighting past challenges, Komolafe noted that fragmented operations and limited collaboration among stakeholders had hindered investment in the sector. The Commission is now engaging industry players, financial institutions, and investors to create a unified investment environment.

“One of the factors that affected business is that activities were happening in silos. The NUPRC now recognises 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 told participants.

The licensing auction is part of ongoing reforms aimed at raising Nigeria’s oil output to one million barrels per day in the short to medium term.