The UK-based Global Energy Transparency Initiative, GETI, has called on the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to maintain consistent transparency in its 2025 Oil and Gas Licensing Round, ensuring that openness extends beyond the bidding stage.
In a statement on Tuesday signed by its Executive Director, Dr Jonathan Whitfield, GETI stressed the need for NUPRC to regularly publish contracts, fiscal terms, and beneficial ownership information to strengthen accountability and build long-term confidence in Nigeria’s upstream sector.
The statement follows the launch of NUPRC’s fully digitised 2025 Licensing Round Portal, which features 50 oil and gas blocks across onshore, swamp/shallow water, frontier basins, and deepwater areas.
The Commission projects $10 billion in fresh investment and an addition of two billion barrels to national reserves over the next decade.
GETI highlighted the licensing round’s projected production potential of 400,000 barrels per day, noting its focus on gas utilisation and job creation, calling it a “holistic approach to energy governance that balances revenue, competitiveness, and social impact.”
The think tank also emphasised that maintaining transparency at all stages, from contract awards to fiscal disclosures, would enhance investor confidence and set a benchmark for Africa’s upstream sector.
“The message is clear: strong governance is a competitive advantage. Nigeria is showing that regulatory credibility can coexist with rapid investment growth,” the statement said.