WED NOV 12 2025-theGBJournal| The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round effective December 1, 2025.
The Commission Chief Executive (CCE) of the NUPRC, Engineer Gbenga Komolafe, made the announcement at the NUPRC’s Project 1MMBOPD Additional Production Investment Forum in London on Tuesday.
Engineer Komolafe added that the announcement was in line with the Petroleum Industry Act following the approval of President Bola Ahmed Tinubu who doubles as the Minister of Petroleum Resources.
“We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, to commence the 2025 licensing round beginning from December 1, 2025,” the CCE said.
At the forum which was attended by CEOs of oil companies, bank representatives and potential investors, the NUPRC boss said funding remained the biggest challenge in Nigeria’s upstream sector and the Commission as a business enabler planned to tackle this by connecting interested parties.
He therefore stated that the event was put together to connect all stakeholders in order make the additional one million barrels a reality.
”One of the factors that affected business is that activities were happening in silos but the NUPRC now realises the need to bring everyone together,” the CCE said, adding, ”We want you all to network. Bank of America is here as well as representatives of other banks.”
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
