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
-
2026 Aboakyer Festival durbar held with beautiful tradition
7 minutes -
Ghana drawn with Brazil, Spain in crucial World Relays repechage race
57 minutes -
A nation that cannot employ its youth, cannot sustain peace – Kwamuhene urges urgent job creation
2 hours -
Annoh-Dompreh elected Chairman of PAP Committee on Health, Social Work and Labour
2 hours -
World Cup 2026: Injuries to key players ahead of tournament worrying – Kurt Okraku
2 hours -
Togo introduces fixed penalties for traffic offences
2 hours -
Amusan, Samukonga confirmed for Accra 2026
2 hours -
NADMO supports tidal waves victims in Anlo District
2 hours -
Vice President joins Effutu people to celebrate Aboakyer 2026
3 hours -
Tera Carissa Hodges joins global creatives to discuss cultural sovereignty at AfroCannes 2026
3 hours -
TCDA CEO leads charge to scale up cashew apple value addition opportunities
3 hours -
MGL’s May Day Egg market ends in resounding success as crowds turn out for affordable eggs
4 hours -
Energy expert advocates increased private-sector role in power distribution to tackle dumsor
4 hours -
Tony Asare Writes: A clotted artery, by-passes and detours
4 hours -
No road project cancelled under Mahama’s reset agenda — Roads Minister
4 hours