UK Watchdog Applauds Nigeria’s $10 Billion Oil Licensing Round As Global Benchmark
Nigeria's NUPRC has launched its 2025 Licensing Round Portal, receiving international acclaim for its transparency. The Global Energy Transparency Initiative (GETI) lauded the initiative as a "landmark step" and praised NUPRC's investor-friendly approach, aligning with international standards. The fully digitized portal lists 50 oil and gas blocks with transparent bidding procedures and detailed block information, a move hailed as the most ambitious transparency measure in African upstream regulation. NUPRC projects the round could attract $10 billion in investments, adding two billion barrels to Nigeria's reserves. GETI urged continued transparency, including contract and beneficial ownership information, emphasizing that strong governance attracts investment and fosters growth.
