The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, has said that only bidders with strong technical and financial capacity, proven professionalism, and credible development plans will qualify in the 2025 petroleum licensing round.

Eyesan made this disclosure on Wednesday at the 2025 licensing round pre-bid webinar.

“So as we move through today’s session, I want you to view this round not just as an offering of acreage, but as an opportunity to participate in a stable rules-based system that is opening the door to genuine value creation.

“Distinguished participants, the licensing round is an open call for committed partners, those ready to invest, bring technology, and accelerate Nigeria’s assets from licence award to exploration, appraisal and ultimately full production.

“The process follows five steps: registration, pre-qualification, data acquisition, technical bid submission, evaluation, and commercial bid conference,” she said.

Eyesan noted that, with President Bola Tinubu’s approval, the signature bonuses for the 2025 bid round have been structured to reduce entry barriers and prioritise the most critical evaluation criteria.

She added that the bid round places strong emphasis on technical competence, credible work programmes, financial capacity, and the ability to achieve production in the shortest possible time.

“To further strengthen the process, today’s webinar — the first of its kind — aims to clarify bid requirements, help you participate effectively before the tender deadline as well,” Eyesan said.

“We also invite your questions and feedback to improve the licensing round process and outcome.”

She stressed that the 2025 Nigerian licensing round goes beyond a simple bidding exercise, representing a reimagined upstream sector rooted in the rule of law, guided by data, aligned with global investment standards, and aimed at creating lasting value.

On December 1, NUPRC announced the official commencement of the 2025 Oil Licensing Round.

This will be the second bid round since the Petroleum Industry Act was enacted in 2021, with focus on discovered but undeveloped fields, idle assets, and gas-rich prospects.