Sopuruchi Onwuka
The Nigerian Upstream Regulatory Commission says next year’s oil block licensing round will serve as a benchmark for transparency and investor confidence as the country pushes to lift crude output and revive exploration activity.
In a speech delivered on his behalf at a strategic media workshop in Lagos, Commission Chief Executive (CCE), Engr Gbenga Komolafe, said the 2025 bid round, scheduled for December 1, is designed to be more competitive than the 2024 edition.
Deputy Director of Human Resources, Corporate Services and Administration, Efemona Bassey, who represented Engr Komolafe at the event stated that a credible process is essential if Nigeria is to unlock new acreage, strengthen reserves and move closer to its ambition of adding one million barrels per day to national production.
Komolafe framed transparency as both a constitutional obligation and a regulatory duty. He cited Section 22 of the 1999 Constitution, which empowers the media to hold government accountable, and Section 7(m) of the Petroleum Industry Act, which mandates the NUPRC to publish operational data. In his view, the regulator and the press share a common interest in openness and credible reporting.
The workshop brought senior NUPRC officials together with journalists for technical briefings on exploration trends, acreage management, economic regulation, production issues and host community relations. The sessions sought to give the media a clearer view of upstream realities at a time when global investment in hydrocarbons is shrinking and energy transition pressures are rising.
Despite those headwinds, Komolafe said Nigeria has recorded measurable progress this year. He pointed to multiple days when crude output exceeded 1.7 million barrels per day, an increase in rig count to nearly 70 with more than 40 active rigs, and fresh Final Investment Decisions worth billions of dollars. Field Development Plans valued at about 20 billion dollars have been approved in the last ten months alone.
These gains, he said, reflect the impact of regulatory instruments created under the PIA and Executive Orders issued by President Bola Tinubu, which aim to cut bottlenecks and stabilize upstream investment.
Komolafe stressed that improving the flow of accurate information remains central to the Commission’s work. The NUPRC publishes operational updates on its website, on social media and through its quarterly magazine. He said these channels will be strengthened further to improve public access to upstream data.
For the regulator, the 2025 licensing round is both an opportunity and a test. Success would help restore exploration momentum and reinforce Nigeria’s claim that its upstream reforms are working. A credible process could also reassure international oil companies and independents that regulatory clarity is improving. Failure would risk deepening investor hesitation at a time when global capital is already shifting away from fossil fuels.
As the Commission prepares for the next phase of acreage allocation, the partnership between the regulator and the media will shape how the process is perceived at home and abroad.
