A UK-based energy watchdog, the Global Energy Transparency Initiative (GETI), has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for what it described as world-class transparency and investor-focused reforms introduced in the 2025 Licensing Round Portal.

In a statement on Tuesday signed by its Executive Director, Dr. Jonathan Whitfield, GETI said the launch of the licensing round—featuring 50 oil and gas blocks across onshore, shallow water, frontier basins and deepwater terrain—marks a “landmark step towards aligning Nigeria’s upstream governance with global best practices.”

The commendation comes a day after NUPRC announced that its licensing portal, br2025.nuprc.gov.ng, had gone live. The Commission projects that the round could attract up to $10 billion in new investments and add two billion barrels to national reserves over the next decade.

GETI hailed the portal’s full digitisation, noting that the publication of bidding procedures, timelines and a detailed breakdown of available blocks represents “the most ambitious transparency measures by any African upstream regulator in recent memory.” The 50 blocks comprise 15 onshore, 19 shallow water, 15 frontier, and one deepwater acreage.

“Under Engr. Komolafe’s leadership, Nigeria has demonstrated that regulatory openness, clarity and accountability are essential to attracting credible investors,” Whitfield said. “From prequalification and bid submission to evaluation and award, every stage is now transparent, reducing discretion and the opacity that has historically undermined confidence in the sector.”

The organisation said the licensing round’s estimated production potential of 400,000 barrels per day, alongside its emphasis on gas utilisation and job creation, reflects a “holistic approach to energy governance that balances revenue, competitiveness and social impact.”

Whitfield described the reforms as a “template for Africa,” adding that fair and transparent licensing processes remain critical to investor trust and long-term sector stability.

GETI also encouraged NUPRC to sustain the transparency drive by ensuring full disclosure of contracts, fiscal terms and beneficial ownership information as the process advances. According to the group, consistent implementation will reinforce Nigeria’s positioning as a credible investment destination.

“The message is clear: strong governance is a competitive advantage. Nigeria is showing that with the right leadership, regulatory credibility can coexist with rapid investment growth,” the statement added.

Vanguard News