NGThe Nigerian Federal Government has announced plans to increase oil production by an additional 300,000 barrels per day within three years through the 2025 Licensing Round. The round, which attracted 300 companies competing for 50 assets, resulted in 143 companies submitting bids for 37 assets, with 13 blocks moved to the upcoming 2026 bid round. The goal is to boost national oil output to three million barrels per day by 2030 and add 500 million barrels to reserves. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) emphasized transparency, long-term value, and investor capability, stressing that idle acreage would not be tolerated. President Bola Tinubu has approved the 2026 licensing round to continue attracting investment and maintaining exploration activity.
Bias read (Center): The article presents information about government policy and economic planning related to oil production without overtly favoring any political ideology. It focuses on factual reporting about the licensing process, government goals, and regulatory actions, with balanced language and no evident slant
