Nigeria has 220 open oil blocks scattered across its onshore and offshore basins, despite mounting debt and crude supply challenges, data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed. The deep offshore region accounts for the highest number of unlicensed blocks at 59, followed by the Benue Trough with 41, the Chad Basin with 40, Sokoto Basin with 28, and the Bida Basin with 16. Even mature zones like the Niger Delta and Anambra Basin still have several idle blocks.
The NUPRC said that 24 blocks were recently awarded through the 2022/2023 and 2024 licensing rounds, adding that Nigeria’s deepwater areas remain underexplored despite hosting prolific fields such as Agbami, Bonga, Egina, and Akpo. As of January 1, 2025, the deepwater terrain contributed 19 percent of Nigeria’s oil and 12 percent of gas reserves.
Industry observers say the untapped blocks reflect a disconnect between Nigeria’s oil potential and its actual output. This mismatch is compounded by a debt stock that rose to N149.39 trillion in Q1 2025, while local refineries continue to suffer crude shortages. Dangote Refinery recently resorted to importing up to 10 million barrels of crude from the US in July alone.
In April, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, warned that oil blocks left idle for decades would be withdrawn and reallocated. He urged both international and local investors to collaborate on field development and boost supply to Nigeria’s growing refining sector.
The NUPRC is also considering a cluster development model to encourage cost-efficient production in smaller accumulations, as it prepares for a new bid round later this year.
