Thirty-one companies have emerged winners of 37 oil and gas blocks in Nigeria’s 2025 Licensing Round following the conclusion of the commercial bid conference held in Abuja on Tuesday.

The bidding process, held at the Transcorp Event Centre, attracted 143 companies, which submitted about 200 bids for 37 of the 50 oil and gas blocks offered by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The blocks span multiple terrains, including the Niger Delta onshore, shallow water and deep offshore areas, as well as the Benin, Anambra and Chad basins and the Benue Trough.

While 37 blocks received bids, the remaining 13 attracted no offers.

The NUPRC described the outcome as significant, noting that it is the first time Nigeria’s frontier basins—including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin—have attracted such strong investor interest.

Among the successful bidders are SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited, Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.

READ ALSO: PHOTO STORY: Firms begin commercial bidding for Nigeria’s deep offshore, shallow water oil assets

The commission said the companies will receive final awards only after paying the required signature bonuses and obtaining the approval of the Minister of Petroleum Resources, in line with the Petroleum Industry Act (PIA) 2021.

Speaking after the exercise, the NUPRC Chief Executive, Oritsemeyiwa Eyesan, thanked President Bola Tinubu for supporting the successful conduct of the licensing round.

She congratulated the successful bidders and urged them to promptly pay their signature bonuses and develop the awarded assets, warning that undeveloped assets could be withdrawn under the commission’s “drill or drop” policy.

The commercial bid conference was monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders to ensure transparency and compliance with applicable laws.

 ntel has unveiled a new corporate strategy, “The Next Frontier”, as the telecommunications company expands beyond connectivity into digital infrastructure and real estate development.

The strategy, launched in Lagos on July 13, is built around ntel’s BET Agenda, Beam, Eden and Titan, and is aimed at accelerating growth through technology innovation, infrastructure development and strategic asset optimisation.

Soji Maurice-Diya, Managing Director and Chief Executive Officer of NatCom Development & Investment Limited trading as ntel, said the initiative represents more than a business transformation strategy.

“It represents the company’s commitment to building an integrated ecosystem that connects people, empowers businesses, drives digital inclusion, and creates sustainable economic value for Nigeria,” Maurice-Diya said.

ntel building an integrated ecosystem, CEO says

The launch comes as ntel continues efforts to regain spectrum assets while pursuing strategic partnerships aimed at redefining innovation in the telecommunications industry and opening new pathways for growth.

Under the Beam pillar, ntel introduced WakaGo, a global e-SIM solution for international travellers, and AirFibre, a high-speed fixed wireless broadband service designed to provide reliable internet access for businesses.

The Titan pillar focuses on ntel’s infrastructure business, including tower development, fibre connectivity, duct infrastructure, colocation services and infrastructure-sharing solutions for operators, enterprises and technology providers.

A major highlight of the launch was Eden, ntel’s real estate development platform, which is intended to transform NatCom’s property portfolio into commercial and residential developments.

The company unveiled three flagship projects under the platform: Eden Place, a commercial development in Lagos; Nova Place, a commercial project in Port Harcourt; and Terenna Court, a residential apartment development in Abuja.

According to ntel, the projects are expected to unlock value from its real estate assets through strategic partnerships, innovative design and long-term investment.

The ntel CEO said the telecoms company had achieved several milestones over the past 12 months, including strengthened stakeholder engagement, strategic business alignment, creditor discussions, the pursuit of partnerships with Mobile Network Operators (MNOs), and operational restructuring to improve efficiency and optimise infrastructure assets.

The event was attended by government officials, telecommunications industry leaders and private sector stakeholders, including Gbenga Alade, Managing Director and CEO of the Asset Management Corporation of Nigeria; Idris Olorunnimbe, Chairman of the Board of the Nigerian Communications Commission; Adeleke Alex-Adedipe, Chairman of the ntel board; Gbenga Adebayo, Chairman of ALTON; and Tony Izuagbe Emoekpere, President of ATCON.

By combining connectivity, infrastructure and real estate under a unified strategy, ntel said it is positioning itself at the intersection of technology, infrastructure development and economic growth in Nigeria.