Table of Contents
- EGA's Support for the Licensing Round
- Confidence Boost for Investors
- President's Commitment to the Industry
- Message of Transparency
- Strategic Launch in London
- Recent Moves by the Commission
- Call to the Federal Government
- Conclusion
The Energy Governance Alliance (EGA) has endorsed the commencement of the 2025 oil licensing round by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
EGA characterized this initiative as a significant confidence boost for investors and a clear signal of Nigeria’s renewed competitiveness in the global energy market.
In a statement released on Wednesday, the EGA’s Executive Director, Dr. Kelvin Sotonye William, mentioned that the licensing round, scheduled for December, is one of the advantages stemming from the Petroleum Industry Act (PIA) since its implementation.
He emphasized that this initiative highlights President Bola Tinubu’s dedication to revitalizing the oil and gas sector for sustainable growth and long-term investment.
“The NUPRC has taken a decisive action that transcends merely opening new oil blocks; it is unveiling a new chapter of credibility and investor confidence in Nigeria’s petroleum industry,” Dr. William stated.
“By basing this process on transparency, data integrity, and predictable regulations, the Commission is conveying a message to the world that Nigeria’s upstream sector is once again open for fair and profitable investment.”
According to the EGA, the London launch of the licensing round before a global audience of oil executives, investors, and financiers was both “strategic and symbolic,” positioning Nigeria as a serious contender for international capital during this era of energy transition.
“By engaging with investors directly and presenting a transparent, reform-driven investment case, the NUPRC is restoring trust that was eroded over decades of opacity and inconsistent policies,” the statement continued.
The alliance also acknowledged the Commission’s recent actions, including the approval of 46 field development plans in 2025, an active rig count exceeding 60, and crude oil production reaching 1.83 million barrels per day.
“These figures demonstrate that Nigeria’s upstream recovery is genuine and that the reforms are effective. When regulatory clarity aligns with investor confidence, capital is attracted,” Dr. William remarked.
He urged the federal government to maintain its support for the NUPRC through consistent policies, capacity building, and engagement with stakeholders.
“With this licensing round, Nigeria can illustrate that transparency and profitability can coexist. If the momentum continues, the country can exceed two million barrels per day and move closer to the $1 trillion GDP goal,” he concluded.
According to DAILY POST, the date for the upcoming oil block licensing auction is approaching.
What is the significance of the 2025 oil licensing round in Nigeria?
The 2025 oil licensing round is significant as it represents a major confidence boost for investors and indicates Nigeria's renewed competitiveness in the global energy market, following reforms outlined in the Petroleum Industry Act.
How does the NUPRC plan to ensure transparency in the licensing process?
The NUPRC aims to ensure transparency in the licensing process by anchoring it on data integrity and predictable regulations, thereby rebuilding investor trust that has been lost over the years.
What recent achievements have been noted by the EGA regarding Nigeria's oil industry?
Recent achievements include the approval of 46 field development plans for 2025, an active rig count exceeding 60, and crude oil production reaching 1.83 million barrels per day, indicating a positive recovery in Nigeria's upstream sector.
