Vice President Kashim Shettima has declared that Nigeria’s oil blocks are now being awarded through open and competitive processes, saying a friend of his secured an upstream asset without using political connections.
Shettima, who represented President Bola Tinubu at the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission in Abuja on Tuesday, said the development demonstrated the transparency of the reforms introduced into the upstream oil sector.
He said, “Acreages are now awarded through open and competitive bidding processes, and I can bear witness to this part. A friend of mine with no connection whatsoever got awarded an upstream location through a fair and just process.”
He also declared that the Federal Government remained determined to make Nigeria a destination of choice for long-term hydrocarbon investment, assuring investors that the terms were clear and that the government would continue to enforce compliance and accountability.
The Vice President’s comments came as the Federal Government highlighted reforms aimed at attracting fresh investment into the oil and gas industry, improving crude oil production and reducing the barriers that have discouraged investors from developing Nigeria’s petroleum resources.
The NUPRC was established following the enactment of the Petroleum Industry Act in 2021 to regulate the upstream petroleum sector and oversee the administration of petroleum resources, including licensing, leases and field development.
The commission has since conducted licensing and bidding processes, including the 2024/2025 oil licensing round, which attracted bids from local and international companies for available oil blocks.
