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The UK-based Global Energy Transparency Initiative (GETI) has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to uphold consistent transparency during its 2025 Oil and Gas Licensing Round, ensuring that openness is maintained beyond just the bidding phase.

In a statement released on Tuesday and signed by its Executive Director, Dr. Jonathan Whitfield, GETI emphasized the importance of NUPRC regularly publishing contracts, fiscal terms, and beneficial ownership information to enhance accountability and foster long-term trust in Nigeria’s upstream sector.

This statement comes in the wake of the launch of NUPRC’s fully digitized 2025 Licensing Round Portal, which showcases 50 oil and gas blocks across onshore, swamp/shallow water, frontier basins, and deepwater regions.

The Commission anticipates $10 billion in new investments and an increase of two billion barrels in national reserves over the next decade.

GETI pointed out that the licensing round is projected to produce 400,000 barrels per day, highlighting its emphasis on gas utilization and job creation, and describing it as a “comprehensive approach to energy governance that harmonizes revenue, competitiveness, and social impact.”

The think tank also stressed that maintaining transparency at every stage, from contract awards to fiscal disclosures, would bolster investor confidence and establish a standard for Africa’s upstream sector.

“The message is clear: strong governance is a competitive advantage. Nigeria demonstrates that regulatory credibility can thrive alongside rapid investment growth,” the statement concluded.

What is GETI's recommendation for NUPRC?

GETI recommends that NUPRC maintain consistent transparency throughout the 2025 Oil and Gas Licensing Round, ensuring openness beyond the bidding stage.

What does the 2025 Licensing Round Portal feature?

The 2025 Licensing Round Portal features 50 oil and gas blocks across various areas including onshore, swamp/shallow water, frontier basins, and deepwater regions.

What are the expected benefits of the licensing round?

The licensing round is expected to generate $10 billion in new investments and add two billion barrels to national reserves over the next decade, with a production potential of 400,000 barrels per day.

Why is transparency important in the licensing process?

Transparency is crucial as it enhances investor confidence and sets a benchmark for accountability in Africa’s upstream sector.

Eze Chidiebere Paul

Eze Chidiebere Paul

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