Abuja Makes Its Case to the Oil World
Abuja’s oil campaign enters a new phase as the government opens bidding for 50 exploration blocks. Gbenga Komolafe’s announcement from London signalled more than routine bureaucracy; it showed Abuja pushing hard to bring investors back into a sector that has struggled to regain momentum.
The commission set out bold targets: attract $10 billion in fresh capital, add 2 billion barrels to reserves, and revive exploration across frontier basins. By framing the process as fully digital and compliant with the Petroleum Industry Act, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) sought to convince operators that Nigeria could finally deliver consistency.
Officials supported the pitch with evidence. Seismic data were reprocessed to give clearer geological insight, removing uncertainties that previously stalled decisions. Production rose to 1.7-plus million barrels per day this year, with a recent peak of around 1.8 million. These indicators were used to show that the environment had started to stabilise.
International oil companies responded. Shell increased its stake in the Bonga field to 65 per cent, signalling a deeper commitment to Nigerian deepwater. TotalEnergies brought Chevron into two offshore blocks to share risk and open new prospects. These movements strengthened Abuja’s claim that investor confidence was returning.
The government is not localising its campaign. It is planning a Lagos pre-bid conference on December 17, followed by roadshows in Dubai and Singapore next year. Abuja wants to shape the global perception of Nigeria as a viable upstream destination after years of uncertainty and stalled projects.
Yet the public is reading the moment differently.
Many Nigerians welcome the possibility of new jobs, improved gas supply, and infrastructure growth. At the same time, they are questioning whether revenue from the new round would bypass elite capture. Environmental risk remains central, especially for communities familiar with spills and degraded land.
The tender is therefore a test of credibility. Abuja is signalling ambition, but citizens will judge the outcome by whether transparent management replaces the old cycle of promise without real benefit.
