Nigeria, Dec. 1 -- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday opened bidding for 50 oil and gas blocks, targeting $10 billion in investment.

Announcing the commencement of the 2025 oil block licensing round at a press briefing on Monday, the NUPRC Chief Executive, Gbenga Komolafe, said the bidding will add 2 billion barrels of oil output over the next decade.

Mr Komolafe said the 2025 block licensing round would last for approximately six months.

A licensing round is a process by which the government grants oil and gas exploration and production rights to companies through a competitive bidding process.

"Consolidating on the achievements of the 2024 licensing round, the commission is proud to formally anno...