The Federal Government has fixed June 12, 2026, as the deadline for the submission of technical and commercial bids in the ongoing 2025 Oil and Gas Licensing Round, signaling the final phase of the competitive process for the allocation of petroleum assets.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which is overseeing the exercise, announced the deadline in a notice issued on Tuesday, urging all prequalified companies to submit their bids before the close of business on Friday.
According to the commission, submissions will end at 4:30 p.m. West African Time in line with the guidelines governing the licensing round.
"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 notice stated.
The regulator advised participating firms and other stakeholders to obtain additional information through the official licensing round portal.
The deadline marks a critical milestone in the government's drive to attract fresh investment into Nigeria's upstream petroleum sector and boost crude oil and gas production through the development of dormant assets.
The 2025 Licensing Round was launched in December 2025 under the framework of the Petroleum Industry Act (PIA), with 50 oil and gas blocks made available to prospective investors.
The blocks comprise 15 onshore assets, 19 shallow-water blocks, 15 frontier exploration blocks and one deep-water asset.
Industry regulators expect the exercise to generate significant investor interest and unlock investments estimated at about $10 billion over the coming years.
According to projections by the NUPRC, the development of the offered assets could add about two billion barrels to Nigeria's oil reserves and increase daily crude production by approximately 400,000 barrels when fully operational.
The commission had earlier completed the prequalification stage of the exercise and notified successful applicants to proceed to the commercial and technical bidding phase.
Successful bidders emerging from the process will eventually be awarded the oil blocks after meeting all regulatory and financial requirements.
Meanwhile, the government is already laying the groundwork for another licensing exercise.
The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, recently disclosed that the proposed 2026 Licensing Round has secured ministerial approval and is expected to commence no later than the third quarter of this year.
She noted that preparations for the next round were progressing steadily, reflecting the government's determination to maintain a predictable and transparent licensing regime capable of attracting long-term investment into the sector.
The planned launch of another round shortly after the conclusion of the current exercise underscores efforts by the regulator to institutionalise annual bid rounds and deepen investor confidence in Nigeria's oil and gas industry.
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