The Nigeria Extractive Industries Transparency Initiative (NEITI) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for notable progress in the conduct of the 2022–2023 Mini Bid Round and the 2024 Licensing Round.
The commendation follows NEITI’s independent observation and monitoring of the pre-qualification and technical bid processes, in line with its statutory mandate under the Petroleum Industry Act (PIA) 2021 and the global Extractive Industries Transparency Initiative (EITI) Standard.
An Advisory Report released by NEITI praised NUPRC’s efforts, highlighting “notable improvements in inclusivity, digitalization, and procedural integrity.” The report, presented to the NEITI National Stakeholders Working Group (NSWG) at its statutory meeting in Umuahia, Abia State, described the licensing rounds as “significant milestones in Nigeria’s upstream petroleum sector, designed to attract credible investments, unlock hydrocarbon potential, and advance national development objectives.”
The Advisory Report noted that the licensing process was generally professional, transparent, and inclusive, with adherence to published criteria as required by the PIA and EITI provisions.
Special concessions granted to indigenous and emerging firms were acknowledged as a progressive step that enhanced stakeholder participation and public confidence.
However, NEITI’s report also identified areas for improvement, including strengthening the evaluation methodology and metrics enhancing transparency in result disclosure, improving public access to bidder information, ensuring full disclosure of beneficial ownership and integrating technical and commercial value assurance in evaluations.
The report offered actionable recommendations to bolster future rounds, emphasizing transparent disclosures, standardized scoring, and consistent stakeholder engagement.
“The NSWG commended NUPRC’s cooperation with NEITI and encouraged the adoption of the recommendations outlined in the advisory,” said Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI.
“We remain committed to working collaboratively with regulators, civil society, and industry stakeholders to institutionalize transparency, good governance, and sustainable development in Nigeria’s extractive industries. The framework redefines NEITI’s role in the energy transition, introducing a transparent and accountable mechanism for tracking greenhouse gas emissions and climate-related financial risks, monitoring divestments by International Oil Companies (IOCs) and overseeing the implementation of Host Community Development Trusts (HCDTs) under the PIA.
