NUPRC: Komolafe assures investors of transparent 2025 licensing bid round

By Obas Esiedesa, Abuja

The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has assured investors that the 2025 licensing bid round will be transparent and fully aligned with the Petroleum Industry Act (PIA) 2021.

Speaking in Abuja while receiving a delegation from Italy-based Ludoil Energy, Komolafe revealed that the bid portal will officially open on December 1, 2025.

He explained that the licensing exercise will follow a two-stage process—beginning with a technical phase, after which only qualified applicants will proceed to the commercial phase.

“The portal for the licensing round will go live on December 1. The licensing round will be transparent and fair in line with the PIA 2021. We do not discriminate. We invite all potential investors to participate,” he said.

He added that the process will be fully digitised, allowing applicants to know their status immediately after the conclusion of each stage. “There is no bureaucracy involved,” he emphasized.

Komolafe noted that implementation of the PIA has strengthened investor confidence and enhanced regulatory stability in Nigeria’s upstream sector. With proven oil reserves exceeding 37 billion barrels and its standing as Africa’s largest crude producer, he said Nigeria remains the continent’s most attractive destination for energy investments.

He further highlighted Nigeria’s strategic geographic advantage, pointing to the country’s 853-kilometre coastline, which allows faster access to European markets compared to crude supplies from the United States.

In his remarks, Mr. Paolo Fedeli, Group Chief Technical Officer of Ludoil Energy SPA, said the company—currently operating in the Republic of Congo—is expanding its footprint across Africa, with Nigeria identified as its next major destination due to its vast industry opportunities.

“We see Nigeria as our next target for growth because it is the largest producer in Africa. Your next round of licensing is an opportunity for us,” Fedeli said, reaffirming the company’s interest in the 2025 bid round.

The post NUPRC: Komolafe assures investors of transparent 2025 licensing bid round appeared first on Vanguard News.