The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has fixed June 12, 2026, as the deadline for the submission of technical and commercial bids by companies that successfully passed the prequalification stage of the country's ongoing 2025 oil and gas licensing round.
The commission disclosed this in a notice issued on Tuesday, directing all eligible applicants to complete and submit their bids by 4:30 p.m. West African Time in line with the guidelines governing the exercise.
The announcement marks a significant stage in the licensing process as qualified investors compete for exploration and production opportunities across a portfolio of oil and gas assets offered by the Federal Government.
The 2025 Licensing Round, launched in December 2025 under the provisions of the Petroleum Industry Act (PIA), is part of efforts to attract fresh investment into the upstream sector, increase hydrocarbon reserves and boost crude oil production.
A total of 50 oil and gas blocks were offered during the exercise, comprising 15 onshore blocks, 19 shallow-water blocks, 15 frontier acreages and one deep-water block.
According to the regulator, the assets have the potential to unlock about two billion barrels of oil resources over the next decade and contribute approximately 400,000 barrels per day to national production capacity when fully developed.
NUPRC completed the prequalification stage in March and notified successful applicants to proceed to the bid submission phase, which industry stakeholders consider one of the most critical steps before the eventual allocation of assets.
The Federal Government has projected that the licensing round could attract investments valued at around $10 billion into Nigeria's upstream petroleum industry.
The latest development also comes as preparations gather pace for another licensing exercise expected later this year.
The Commission Chief Executive of NUPRC, Oritsemeyiwa Eyesan, recently disclosed that ministerial approval had been secured for the 2026 Licensing Round, with plans for the exercise to commence before the end of the third quarter of the year.
She noted that progress recorded in the ongoing 2025 round had provided momentum for the next exercise, reflecting the regulator's commitment to sustaining investment opportunities in the country's oil and gas sector.
The commission has maintained that regular licensing rounds remain a key component of the Petroleum Industry Act's objective of promoting transparency, competitiveness and efficient management of Nigeria's petroleum assets.