… makes commitment to address project delays, funding issues

… as 2025 licensing round, targets gas-rich blocks, investment boost

Oredola Adeola

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced it will launch the 2025 Licensing Round on December 1, with a commitment to tackle delayed project execution, infrastructural bottlenecks, and financing challenges.

The Commission Chief Executive (CCE) of the NUPRC, Engineer Gbenga Komolafe, made the announcement at the NUPRC’s Project 1MMBOPD Additional Production Investment Forum in London on Tuesday, November 11, 2025.

Advisors Reports gathered that NUPRC’s ongoing roadshow highlights the 2025 Licensing Round’s strategic aim to boost oil and gas production, unlock undeveloped fields, and attract investment under the Petroleum Industry Act 2021, with a focus on gas-rich blocks.

Engineer Komolafe in the statement addressing CEOs of oil companies, bank representatives and potential investors, confirmed that the announcement was in line with the Petroleum Industry Act following the approval of President Bola Tinubu who doubles as the Minister of Petroleum Resources.

“We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, to commence the 2025 licensing round beginning from December 1, 2025,” the CCE said.

The NUPRC boss said funding remained the biggest challenge in Nigeria’s upstream sector and the Commission as a business enabler planned to tackle this by connecting interested parties.

He therefore stated that the event was put together to connect all stakeholders in order make the additional one million barrels a reality.

“One of the factors that affected business is that activities were happening in silos, but the NUPRC now realises the need to bring everyone together,” the CCE said.

According to him, “We want you all to network. Bank of America is here as well as representatives of other banks.”