Nigeria’s Federal Government says the ongoing 2025 licensing round is expected to increase crude oil and condensate production by an additional 300,000 barrels per day over the next three years. Officials also link the licensing activity to reserve growth, stating the programme targets an addition of 500 million barrels to Nigeria’s oil reserves. As part of efforts to attract investment and expand production capacity, the government is preparing a further bid round in 2026. In the 2025 process, the government offers blocks to investors, and it notes that some blocks are returned to the licensing “basket” as part of the rollout. The announcements are presented as part of a broader strategy to accelerate investment, boost output, and strengthen reserve levels. While details of the companies or specific blocks are not provided in the excerpts, the sources consistently frame the 2025 licensing round as the immediate step toward the stated production and reserve targets, with the 2026 bid round planned as the next phase of the policy.