/ Aug 17, 2026
/ Aug 17, 2026

Nigeria targets $10bn investment as oil bid submission closes June 12

Published on

By

The Federal Government has fixed Friday, June 12, 2026, as the deadline for the submission of technical and commercial bids by prequalified applicants participating in Nigeria’s 2025 Licensing Round.

 

According to a notice issued by the Nigerian Upstream Petroleum Regulatory Commission and published on its official X account on Tuesday, all qualified bidders must submit their proposals by 4:30pm West Africa Time in line with the licensing guidelines.

“The NUPRC hereby notifies the general public that submission of Technical and Commercial Bids by Prequalified Applicants for the 2025 Licensing Round closes on Friday, June 12, 2026, at 16:30 hours (WAT),” the commission stated.

The regulator directed interested stakeholders to obtain additional information through the official licensing portal.

The deadline marks a crucial stage in the licensing exercise as investors compete for access to oil and gas assets under the Federal Government’s drive to attract fresh capital into the upstream petroleum sector and increase hydrocarbon production.

Conducted under the provisions of the Petroleum Industry Act, the 2025 Licensing Round forms part of efforts to unlock dormant hydrocarbon resources, expand exploration activities and strengthen Nigeria’s reserves.

The exercise, which opened in December 2025, offered 50 oil and gas blocks, comprising 15 onshore blocks, 19 shallow-water blocks, 15 frontier blocks and one deep-water block. Authorities estimate the programme could attract about $10 billion in investment.

NUPRC projects that successful development of the assets could unlock approximately two billion barrels of oil over the next decade and add around 400,000 barrels of daily production capacity.

The commission completed the prequalification phase in March and notified successful applicants ahead of the commercial bidding stage.

Meanwhile, preparations are already underway for the 2026 Licensing Round. The commission’s chief executive, Oritsemeyiwa Eyesan, recently disclosed that ministerial approval had been secured and that the next licensing exercise would commence no later than the third quarter of 2026.

Eyesan said progress on the ongoing 2025 round had been encouraging, adding that the commercial bid stage would be concluded before the launch of the 2026 exercise.

The regulator said the move reflects its commitment to institutionalising annual licensing rounds in line with the Petroleum Industry Act’s transparent and competitive framework for allocating petroleum assets.

You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Must Read

Arsenal players celebrate their 3-0 Community Shield victory over Manchester City at the Principality Stadium.

Arsenal thrash Man City 3-0 to lift Community Shield

Arsenal beat Manchester City 3-0 in the Community Shield on Sunday, giving Mikel Arteta an early-season triumph while condemning new City boss Enzo Maresca to defeat in his first game in charge in the traditional curtain-raiser to the campaign.   With their fourth victory over City in the fixture, Arsenal maintained their 100% win record over their opponents with an emphatic performance at the Principality Stadium, where Riccardo Calafiori, Kai Havertz and Martin Odegaard found the net. “We showed our level today, we showed that we’re ready,” Odegaard told TNT Sports. “I think we showed that we’re serious, we want to do it again. There’s more trophies to go for and that’s the aim.” Having failed to convince in pre-season performances that raised a few eyebrows, Arsenal exploded into action with devastating effect right from kick-off, needing just 23 seconds to silence any lingering doubts about their readiness. Myles Lewis-Skelly was deployed in midfield and he threaded an excellent pass to set up left-back Calafiori, who calmly finished past Gianluigi Donnarumma to give Arsenal the perfect start against the FA Cup champions. The early strike — the first goal scored in the opening minute of the fixture in 58 years — set the tone for a dominant display where Arsenal looked fitter, sharper, more confident and full of attacking verve. Arsenal celebrate first premier league title since 2004 with massive parade City did not have a clear opportunity until the 20th minute, when Phil Foden curled a shot from range but David Raya was up to the task, diving to his right to deny the midfielder, and later saved a shot from Erling Haaland. Arsenal doubled their lead when Odegaard floated in a cross to the far post, where new signing Christos Tzolis headed the ball back across goal for Havertz to head home, with Donnarumma accidentally spilling the ball over the line. Arsenal needed just three minutes after the restart to make it 3-0, with Tzolis grabbing his second assist when he set up Odegaard, whose delicate first touch took the ball past Josko Gvardiol before he beat a wrong-footed Donnarumma with ease. Maresca’s side showed only flashes of their attacking threat, but Raya stood firm to preserve a clean sheet while Haaland — last season’s Golden Boot winner with 27 goals — was kept quiet and withdrawn before the hour mark. Arsenal kick off the new Premier League campaign on Friday against Coventry City, and Odegaard said they were going to play on the front foot to defend their crown. “We’re going to attack it. We want to do it again. It was an unbelievable achievement and experience for all of us,” he said. “When you get the taste of how nice it is, you want to do it again. And there’s also a few other ones we want to take,” he added, referring to the Champions League title that slipped through their fingers in the final against Paris Saint-Germain. “At this club, you want to win all of them. But of course, that’s a big one.” The Gunners’ victory over the FA Cup holders gave them their second trophy in four months and their 18th Community Shield title overall. The match was played at the Principality Stadium while Wembley hosts Canadian singer The Weeknd’s ‘After Hours til Dawn’ tour.
Read more

Editor's Pick

Trending News

Newsletter

Enter your email address and receive notifications of news by email.

You have been successfully Subscribed! Ops! Something went wrong, please try again.

© 2026 GongNews. All Rights Reserved.