NUPRC issues 60-day ultimatum for winners of 2025 licensing bid to pay bonuses

The Nigerian Upstream Petroleum Regulatory Commission, NURPC, has issued a 60-day ultimatum to the 31 companies awarded 37 oil and gas blocks in the 2025 licensing round to pay bonuses.

The Commission approved the signature bonuses as part of the post-award process in the next 60 days. 

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The winners also have the next 60  days to provide guarantees and complete post-award requirements or risk forfeiting their licences to the reserved bidders.

This was contained in a notice posted on its X handle.

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NUPRC said: “Exactly a month ago the commission held the 2025 commercial bid conference in Abuja, where 31 companies emerged as provisional winners of 37 blocks.

 Having issued the winners with the provisional awards, compliance with the payment of signature bonuses has already begun.”

The NUPRC warned that it would strictly enforce its laws that winners who fail to meet the post-award conditions within the Petroleum Industry Act–mandated timeframe will forfeit their bid guarantees and lose their provisional awards to the reserve bidders.

The NUPRC had stipulated a 90-day window for the winners to pay their signature bonuses, meet other post-award conditions and complete the necessary documentation, failing which they risk forfeiting their bid guarantees and provisional awards.

With 30 days already gone, the awardees now have 60 days to meet the requirements.

At the commercial bid conference in Abuja on July 21, the commission chief executive, Oritsemeyiwa Eyesan, had told winners that emerging successful did not automatically translate to the grant of a licence.

She said winners must provide the required guarantees, pay the signature bonus and first-year rent, and execute all contractual documents before a Petroleum Prospecting Licence (PPL) is formally issued.

Eyesan said the process was being conducted in line with the Petroleum Industry Act (PIA), 2021, and gave winners a 90-day window from the date of their offer letters to meet these conditions.

“If you have been told anything contrary to the fact that this process was going to be credible and transparent, do not believe it,” she said.

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