Nigeria has added Asian nations, Beijing and Singapore, to its global oil licensing roadshow as it attempts to attract ten billion dollars in new upstream investment and deepen interest in its 2025 offering of exploration blocks.
The expanded tour marks the country’s most ambitious investor outreach in years and reflects a push to widen participation beyond its traditional partners in the United States and the Middle East.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said fifty oil and gas blocks opened to investors on December 1, covering onshore areas, shallow waters, frontier basins and deepwater acreage.
The initiative is tied to Nigeria’s plan to rebuild exploration activity after a long period of decline and to consolidate recent improvements in crude production.
The Commission Chief Executive Engineer, Gbenga Komolafe, said the breakdown of available assets includes fifteen onshore blocks, nineteen shallow water blocks, fifteen frontier assets and one deepwater block.
He added that when fully developed, the blocks have the potential to deliver about four hundred thousand barrels of oil per day.
Komolafe said the licensing round aims to add two billion barrels to national reserves over the next decade and strengthen the country’s gas development roadmap.
Asia added to Nigeria’s investment circuit
Komolafe said the decision to take the roadshow to Beijing and Singapore reflects interest from companies in Asia and aligns with Nigeria’s broader plan to diversify its investor base.
He added that the Commission expects the expanded outreach to improve the visibility of available assets and encourage competition among bidders.
“We are presenting opportunities that can reposition Nigeria as the most attractive investment destination in Africa,” Komolafe said during the formal launch.
This will be the first time the West African nation will include the Asian locations as part of promotional pitch.
Oil output recovery supports investor push
Nigeria’s outreach follows recent gains in crude supply after years of disruptions linked to theft, vandalism and weak investment.
Improved pipeline monitoring and reforms under President Bola Tinubu have helped lift production in recent months.
The government aims to raise daily output by one million barrels by 2027.
International oil companies have adjusted their Nigerian portfolios this year.
Eni and Shell have increased stakes in offshore projects while continuing to offload older onshore operations.
Local firms have also expanded their presence. The 2024 bidding round saw several indigenous players secure significant producing blocks.
Nigeria seeks to revive exploration activity
In addition, Africa’s leading oil producer is seeking to restart exploration on a meaningful scale after a decade of limited drilling.
Several of the offered blocks include gas rich zones and deepwater prospects that authorities hope will attract long term commitments.
Officials say the outcome of the round will shape national output and reserve growth in the coming years.
Analysts note that investor confidence will depend on continued security improvements and quicker project approvals.
The global roadshow will run through January with sessions in Lagos, Dubai, Singapore, Beijing and Houston.
