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FG Disclosed How Investors Shun 13 Oil Blocks, NUPRC Plans Fresh Bids

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4 months ago

July 22, 2026

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FG Disclosed How Investors Shun 13 Oil Blocks, NUPRC Plans Fresh Bids

The Federal Government has disclosed that investors shunned 13 oil and gas blocks located mainly in Nigeria’s frontier basins during the 2025 Licensing Round, forcing the Nigerian Upstream Petroleum Regulatory Commission to return the assets to the licensing basket for further geological studies before reoffering them.
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The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, said the government was not surprised by the outcome because the frontier assets had not been sufficiently de-risked to attract commercial investment.

An analysis of the event brochure showed that the assets include PPL 2A31, PPL 2A34, PPL 2A35, PPL 2A36, PPL 2A37, PPL 2A52, PPL 307, PPL 309, PPL 701, PPL 702, PPL 703, PPL 802 and PPL 803.

She, however, expressed optimism that additional geological work would improve the attractiveness of the assets before they are reintroduced in future bid rounds.

Speaking with journalists after the 2025 Commercial Bid Conference in Abuja on Tuesday, Eyesan explained that while 50 oil and gas blocks were offered during the licensing round, investors submitted bids for only 37 assets.

She said the successful assets are expected to unlock about 500 million barrels of crude oil reserves, approximately two trillion cubic feet of natural gas, and increase Nigeria’s crude production by 300,000 barrels per day, with about 100,000 barrels per day projected within the next three years.

Responding to questions on why 13 blocks failed to attract bidders, Eyesan said the affected assets were largely located in frontier basins where exploration risks remain relatively high.

She said, “When we went into the market and launched the bid, we were very transparent and open and explained that some of these assets are in frontier basins. Now what does that mean? Frontier means that they have not yet been de-risked. And so we were not surprised when we saw that some of these assets returned with no bidders.”

The NUPRC boss said the commission would now intensify exploration activities and acquire additional geological data to improve investor confidence before returning the assets to the market.

According to her, “What it therefore means is that we will go back and do some more work to de-risk these assets and bring them back to the market. I am sure from the studies that we have been doing and the work that we need to do, these assets will come up and definitely pick up.”

Eyesan stressed that the commission would continue to recycle underperforming assets in line with the provisions of the Petroleum Industry Act.

She explained that regular licensing rounds had become necessary because the regulator continuously recovers dormant oil blocks from operators who fail to develop them.

“The reforms in the PIA are very clear, and that is why we are in the market on a regular basis. The reason why we are in the market is because of the blocks that we have recovered from existing operators. It is a constant and continuous work that we do. We go through performance, and assets that meet the threshold are brought into the basket.”

She added, “Because it is operational and effective on an annual basis, we are sure that a lot of operators are going to sit up and work the assets. Where they fail to, as I said, we will call them back into the basket.”

According to Eyesan, the 37 successful assets have the capacity to significantly boost Nigeria’s reserves and production targets.

She said, “Like we earlier mentioned, we are expecting almost 500 million barrels from these 37 oil assets. We have very limited gas assets in this bidding round. We have basically one or two prominent gas assets, and we are looking at about two trillion cubic feet of gas coming from this bid round.”

She added that the projects would contribute substantially to Nigeria’s production growth.

“We now have these resources available to be developed. We also said in the presentation that we are expecting about 300,000 barrels of oil production per day from these assets. We are looking at 37 assets that can come into production in the next three years. At least in the next three years, we should be able to unlock about 100,000 barrels per day.”

The commission chief said the response from investors demonstrated renewed confidence in Nigeria’s upstream petroleum industry despite the absence of bids for some frontier assets.

According to her, “When we started the journey, we got interest from almost 300 companies. I repeat, almost 300 companies. That, in my view, was an indication that the tide has turned for Nigeria.”

She explained that 196 companies passed the prequalification stage, while 143 companies eventually submitted about 200 commercial bids.

“From the almost 300 interests that we got, we moved to the prequalification stage, and that number was pruned down to 196. We have a total of 143 companies showing interest for about 200 bids. That, for us, was remarkable.”

Eyesan dismissed suggestions that the government’s frontier basin programme was creating unrealistic expectations, insisting that the commission would only offer commercially viable assets.

She said, “Oil development is about your ability to manage your risk. As I said, we will continue to de-risk these assets and ensure that when we come to the market, these assets are viable and we have bidders pick them up.”

The NUPRC boss warned successful bidders that winning a licence should not be seen as an achievement in itself but as the beginning of a commitment to develop the assets.

She said, “To the bidders that will emerge successful today, the award should not be a trophy. It shouldn’t be just a medal of honour. We expect that you are going to work these assets.”

Invoking the “drill or drop” provisions of the Petroleum Industry Act, she warned that operators who fail to develop awarded assets within three years risk losing them.

“As enshrined in the PIA, we want you to remember the drill-or-drop provisions. If you do not do anything in three years, I’m sorry, we will come for those assets. Once you cross the line, you should immediately start work as you warranted in your technical bids.”

She added, “The commission will leave no stone unturned to ensure that you work those assets. However, if you fail to do so within three years, we will call back those assets.”

Eyesan also cautioned that emerging as the highest-ranked bidder did not automatically translate into the grant of a Petroleum Prospecting Licence. She explained that successful bidders must still satisfy several post-award obligations within 90 days.

According to her, “Today’s announcement does not by itself constitute the final grant of Petroleum Prospecting Licences. Each winning bidder must satisfy the post-bid conditions prescribed in the guidelines, including the provision of applicable guarantees, payment of signature bonus, first-year rent and execution of relevant contractual documents.”

She warned, “A winning bidder that fails to fulfil the prescribed conditions within 90 days of receiving the offer will have it invalidated. The commission may thereafter invite the reserve bidders in their order of ranking.”

The commission chief also announced that President Bola Tinubu had approved another licensing exercise for next year. She said, “His Excellency President Bola Tinubu has given the commission approval to commence the 2026 bidding round. So all hope is not lost. Lessons learnt from this exercise can be utilised in the next exercise.”

The 2025 Licensing Round was announced by the Federal Government on November 11, 2025, in accordance with the Petroleum Industry Act 2021. Fifty oil and gas blocks were offered across seven sedimentary basins, including the Niger Delta Onshore, Shallow Water, Deep Offshore, Benin Basin, Anambra Basin, Chad Basin and Benue Trough.

The bid portal opened on December 1, 2025, while a pre-bid conference was held on January 14, 2026. Registration closed on February 27, and prequalification was completed on March 16.

NUPRC

Unlike previous licensing rounds, where financial offers largely determined winners, the 2025 exercise adopted a weighted technical and commercial evaluation system under the Petroleum Industry Act. The framework assesses bidders based on financial capacity, technical competence, proposed work programmes and performance guarantees to ensure that awarded assets are developed promptly.

Nigeria currently holds 37.01 billion barrels of crude oil reserves and 215.19 trillion cubic feet of natural gas reserves. The Federal Government expects the newly awarded assets to contribute towards its target of raising crude oil production to three million barrels per day by 2030 while increasing reserves, government revenue, foreign exchange earnings and investments across the upstream petroleum sector.
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Wike Promises N10m to Councillors who Deliver Wards; 2027

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4 hours ago

November 9, 2026

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Wike Promises N10m to Councillors who Deliver Wards; 2027

The Minister of the Federal Capital Territory, Nyesom Wike, has promised N10m to every councillor who successfully delivers their political ward to President Bola Tinubu and other All Progressives Congress candidates in the 2027 general elections.
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Wike made the promise during a Rainbow Coalition stakeholders’ meeting attended by traditional rulers, political stakeholders and residents in Kwali Area Council on Monday.

He urged councillors to mobilise residents and community groups to secure victory for the APC in their respective wards, Channels TV reported.

“Any councillor that delivers his ward will get N10 million reward. Therefore, go and meet your leaders, go and meet your youth groups, go and consult with associations. Let’s deliver our ward to Mr President,” he said.

The minister also declared his support for Tinubu’s re-election bid and endorsed Senator Philip Aduda for the FCT Senate seat and Danladi Chiya for the Abuja South Federal Constituency.

“I don’t need to preach to you any longer. The one you are seeing is what you follow, not the one that will give you unfulfilled promises. I will go to sleep tonight because I know Kwali, Gwagwalada, and Abaji are 100 per cent for APC,” Wike declared.

Wike criticises opposition
He also accused opposition parties and political figures of double standards and hypocrisy over their reactions to judicial rulings.

Wike criticised opposition figures who condemned court decisions, citing the judicial verdict that voided the ticket of the African Democratic Congress presidential candidate, Atiku Abubakar.

Contrasting the opposition’s reactions to different legal outcomes, Wike said their assessment of the judiciary depended on whether court decisions favoured them.

“When ADC had a matter in court and won at the Supreme Court, they said, ‘The court is the last hope,’ ‘The court has saved democracy,’ and ‘We know our judiciary will not fail us.’

“But when they lost a court case, it became: ‘The President is using the court to fight the opposition.’ When it is good for you, the judiciary is clear. When it is bad, you claim they are using it to destroy democracy. What kind of system are we operating?” Wike questioned.

The minister also defended his administration’s policy of providing brand-new Sport Utility Vehicles to first-class traditional rulers in the FCT, which has attracted criticism from some political commentators.

Vehicles: political inducement or bribe?
Dismissing allegations that the vehicles amounted to political inducements or bribes, Wike said traditional rulers deserved dignity and respect.

“You want a first-class traditional ruler to be walking on the road with a stick in hand, taking public buses so they can get hit by a car one day? But you expect Chief Press Secretaries to Governors, Chairmen, and Presidents to ride SUVs?

“Instead of using their platforms to support good things, critics turn it upside down. We will provide for our traditional rulers, and nothing will come out of their complaints,” he said.

He said the ongoing road projects across the satellite towns were nearing completion and would be inaugurated in December.

Wike said the Rainbow Coalition was working in the collective interest of FCT residents, adding that its grassroots structure was bridging political divides to promote effective representation and development.

“The kind of decision the President is taking is not one that other politicians will take, bringing us out from the shadow into reality, and that is what a good leader should be able to do for his people,” he said.

Comparing Tinubu’s administration with previous governments, Wike listed the establishment of the FCT Civil Service Commission, appointment of an FCT Head of Service, financial autonomy for area councils and infrastructure upgrades across satellite towns as some of the current administration’s achievements.

He lamented what he described as the historical marginalisation of the FCT, saying that despite having a population of six to seven million, the territory had only one Senate seat and two House of Representatives seats.

“For 50 years, nobody could remember you. The President has changed the narrative, given you your own civil service, allowed you to employ your people, and elevated your traditional stools. You cannot afford to make a mistake in 2027,” Wike warned.

Wike also promised to look into the salaries of FCT councillors following a complaint by the Chairman of the National Councillors Forum of Nigeria, FCT Chapter, Gambo Hamza.

Wike

Hamza had said councillors in the territory received N260,000 as monthly salaries and appealed to the minister to intervene.

In his remarks, the APC Chairman in the FCT, Ishaku Yamawo, commended Wike for uniting political stakeholders across party lines and promoting development in the territory.

His Peoples Democratic Party counterpart, Mohammed Dogara, also thanked Wike for his work in the FCT and assured him of massive support for Tinubu’s re-election.

Similarly, Aliyu Baka, who spoke on behalf of Rainbow Coalition stakeholders in the FCT, expressed regret over what he described as the coalition’s electoral missteps in 2023, saying it was prepared to ensure victory for its candidates and Tinubu in 2027.
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Police Rescue Abducted APC Chairman Abdullahi Beli in Kano

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4 hours ago

November 9, 2026

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Police Rescue Abducted APC Chairman Abdullahi Beli in Kano

The Kano State Police Command has rescued the All Progressives Congress Chairman in Rogo Local Government Area, Abdullahi Beli, popularly known as Abdullahi Fanka, after 68 days in captivity.
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Governor Abba Kabir Yusuf commended the police command, led by Commissioner of Police Adamu Bakori, for securing the release of the party chairman.

The governor’s commendation was contained in a statement issued on Sunday by the Commissioner for Information and Internal Affairs, Sunusi Tofa.

Online media reports that Beli was abducted by armed men from his residence in Beli community, Rogo Local Government Area.

The rescued chairman, while recounting his ordeal, said his abductors moved him through several locations, including Danja, Ikara and Giwa in Kaduna State, as well as parts of Zamfara State.

The Commissioner of Police disclosed the rescue during a briefing with the governor at the Government House, Kano.

He reaffirmed the command’s commitment to intensifying efforts to tackle kidnapping and other criminal activities in the state.

In his response, Yusuf praised the police commissioner and other personnel involved in the operation.

“I specifically acknowledged the contributions of the Officer-in-Charge of the Police Anti-Kidnapping Squad, CSP Aliyu Muhammad Auwal; CSP Ado Muhammad Audi; and the Police Public Relations Officer, CSP Abdullahi Haruna Kiyawa.

Police

“I’m also directing the state Commissioner for Health to ensure that the rescued chairman received comprehensive medical attention and psychosocial rehabilitation at the expense of the state government,” Yusuf said.

He reiterated his administration’s commitment to supporting security agencies in protecting lives and property and ensuring the safety of residents across the state.
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Obi Accuses NFF Officials Of Blocking Him From Greeting Nigeria’s Flamingos, Says They Feared Losing Jobs

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4 hours ago

November 9, 2026

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Obi Accuses NFF Officials Of Blocking Him From Greeting Nigeria’s Flamingos, Says They Feared Losing Jobs

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has accused officials of the Nigeria Football Federation (NFF) of preventing him from greeting members of Nigeria’s Under-17 women’s football team, the Flamingos, at an airport on Monday, allegedly because they feared losing their jobs.
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Obi described the incident as another example of what he called the growing culture of “toxic politics” in Nigeria, claiming that political differences were increasingly being allowed to undermine national unity and ordinary human interactions.

In a statement posted on his X account on Monday, the former Anambra State governor said he arrived at the airport at about 7 a.m. to board a flight to Enugu when he saw the young footballers, who had just arrived and were preparing to leave the airport.

He said he asked his Protocol Officer, Jackie Wayas, to find out whether he could greet and welcome the players but was informed that NFF officials had objected to the idea.

“I arrived at the airport at 7 a.m. this morning to board my flight to Enugu. There, I saw the Nigeria Under-17 girls’ team, which had just arrived and was preparing to board its vehicle into town,” Obi wrote.

“With genuine joy and enthusiasm, I asked my Protocol Officer, Jackie Wayas, to find out whether I could greet and welcome the team. I was informed that officials of the Nigerian Football Federation (NFF) had refused and had requested that I not approach them because, if I did, they would all lose their jobs.”

Obi said the incident was not the first time he had allegedly been prevented from interacting with Nigerian footballers because of concerns that officials could face consequences.

He recalled that on March 25, 2025, when he travelled to Uyo, Akwa Ibom State, for a World Cup qualifying match, he was similarly prevented from greeting players after the game.

According to him, the governor had welcomed him at the VIP stand, but other government officials who went to greet the players were allegedly stopped from allowing him to do the same.

“Regrettably, this is not the first time I have been subjected to such treatment. On March 25, 2025, I was in Uyo for the World Cup qualifier. The governor warmly received me and welcomed me at the VIP stand. Following the match, other government officials went to greet the players, but I was again prevented from doing so. I was told by the officials that they would lose their jobs if I proceeded,” he said.

The NDC presidential candidate said the incidents reflected what he described as a deterioration in Nigeria’s political environment since 2025.

“It is deeply troubling to witness the extent of toxic politics into which our nation has descended since 2025. Each year appears to bring further deterioration. This reflects how deeply Nigeria has been affected,” he stated.

Obi called for a political environment in which citizens could interact freely regardless of their political affiliations, insisting that hostility and intimidation should have no place in the country.

“The new Nigeria we aspire to build must have no room for hostility, intimidation, or discrimination, regardless of political affiliation. It must be a Nigeria in which unity, mutual respect, and our shared humanity take precedence over political differences,” he added.

Obi Had Congratulated Flamingos After World Cup Triumph

Obi’s complaint came a day after he congratulated the Flamingos following their triumph at the FIFA Under-17 Women’s World Cup in Morocco.

In a separate post on Sunday, he praised the players for their performance and described their achievement as a source of national pride.

“FLAMINGOS: YOU HAVE MADE NIGERIA PROUD,” he wrote.

“I extend my warmest congratulations to our exceptional Flamingos on their historic triumph at the FIFA U-17 Women’s World Cup in Morocco.

World Cup

“To our talented young stars, thank you for raising our flag high and bringing immense joy to our nation. Your remarkable talent, resilience, hard work and dedication have earned you a special place in the hearts of Nigerians.

“You have made our nation proud, and we truly appreciate your outstanding efforts.

“Congratulations, champions!”
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