The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened 50 oil and gas blocks across five sedimentary basins for bidding and exploration in the 2025 licensing round. Photo: NurphotoSource: Getty ImagesThe NUPRC expects the 2025 licensing round to attract around $10 billion in new investments. New oil well for grabThe move is aimed at eliminating speculative participation and repositioning Nigeria’s upstream sector as a transparent, rules-based destination for long-term investment. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility as we work together to shape the next phase of Nigeria’s upstream oil and gas industry." The licensing process will follow five stages: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.