Audio By Carbonatix
Nigeria will auction undeveloped oil and gas blocks next year, prioritising natural gas development to support the country's commitment to UN Sustainable Development Goals, the oil regulator said on Wednesday.
This would be the third auction of blocks since the country passed an expansive oil overhaul law in 2021, part of efforts to ramp up oil production to fund government spending.
"The licensing round is more than a commercial exercise, it is a bold declaration that Nigeria is ready for business," Gbenga Komolafe, head of the Nigerian Upstream Petroleum Regulatory Commission, said during a bid conference in Lagos.
Komolafe said a round of bidding that Nigeria opened in February for new offshore oil blocks has been completed and that successful bidders would receive licences for their blocks "within a few months".
Latest Stories
-
NAPO slams gov’t for revocation of renamed universities
2 minutes -
Livestream: The Law discusses legal backbone of Ghana’s cybersecurity framework
50 minutes -
Photos: 2025 Diaspora Summit
1 hour -
Diaspora partnership central to Ghana’s reset agenda – Vice President Â
1 hour -
Ghanaian graduate students in U.S. appeal for financial support to complete studies
1 hour -
Four suspects arrested in fatal kidnapping attempt near Chereponi
3 hours -
Sankofa Pan-African Committee honours Temple of Rabbi leader as ‘Custodian of Peace’
3 hours -
Obuasi Trade Show records high turn-out and strong impact
3 hours -
‘Obroni wawu’ – The paradise of waste: Where Charity becomes a curse
3 hours -
38 arrested in intelligence-led police operations across parts of Tema Region
3 hours -
Experts say missing engine part in most Ghanaian vehicles polluting air, sickening people
4 hours -
India express train kills seven elephants crossing tracks
4 hours -
Gunmen kill nine in South Africa tavern attack
4 hours -
Charting a New Course for National Prosperity: Why an open ship registry can anchor Ghana’s twenty-four-hour economy vision
5 hours -
Ghana Airways restoration key to national pride and economic reset – Ablakwa Â
5 hours