As the 2025 licensing round gets underway, the Federal Government has reduced the signature bonus from $10m to $3m and $7m.

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled an ambitious plan to attract $10bn in new investments and unlock up to two billion barrels of crude oil reserves through the newly commenced Nigeria 2025 Petroleum Licensing Round.

The Commission Chief Executive, Gbenga Komolafe, an engineer, who made this disclosure in a statement by the Commission’s Head of media.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, effective December 1, 2025.

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