The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has received commendation from the Centre for Energy Policy, Research and Strategic Development (CEPRSD) for its transparent, disciplined and professional management of the 2025 oil and gas licensing round.
In a statement issued on Sunday, CEPRSD Executive Director Dr Cletus Okpe said the emergence of 31 successful companies for 37 oil and gas blocks reflected the credibility of the NUPRC-led process and renewed investor interest in Nigeria’s upstream industry. According to him, 143 companies submitted 200 bids for the blocks, which were located in established oil-producing areas and frontier basins, including the Benue Trough, Chad, Anambra and Benin basins.
The centre said the NUPRC’s structured and competitive approach had demonstrated that credible regulation could help restore confidence in Nigeria’s petroleum sector. It particularly praised the commission for requiring successful bidders to fulfil their financial obligations before receiving final awards, describing the measure as essential to preventing speculative acquisition of oil assets.
CEPRSD also commended the NUPRC’s use of the “drill or drop” principle, which requires operators either to develop their awarded assets or relinquish them. The centre said the policy would promote accountability, discourage the hoarding of acreage and ensure that companies with the capacity and commitment to invest remain active in the sector. The involvement of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance and the Nigeria Extractive Industries Transparency Initiative (NEITI) in monitoring the commercial bid conference was also described as a boost to the integrity of the exercise.
CEPRSD urged the NUPRC to sustain the transparency and predictability demonstrated during the licensing round by enforcing post-award obligations without favour. It said the commission’s continued regulatory discipline would be crucial to converting the successful bids into exploration, development, production, job creation, reserve growth and increased government revenue.
