FG Speaks on 2024 Oil Bid Round, Denies Underhanded Dealings

• The Nigerian government has successfully conducted the 2024 oil licensing rounds, naming new owners to the oil blocks
• However, allegations have emerged that the process was marred by corrupt practices and underhanded deals
• The Chairman of the 2024 bid round committee has now shared details of the entire process, detailing how they handled the selection process

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.

The federal government has spoken up on the allegations of underhanded dealings in the 2020 oil blocks allocation.

Speaking through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the government debunked reports claiming that the 2024 oil licensing bid round had a lot of underhanded deals.

Mr. Bashiru Indabawa, the Chairman 2024 Bid Round Committee, issued a rejoinder titled, “False and malicious allegation to malign NUPRC leadership,” where he debunked the claims.

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Recall that the Transparency Network in Nigeria (TNN) has also stepped up to defend the NUPRC boss, Gbenga Komolafe, and the entire team against the allegations of bias and irregularities.

The statement insisted that the initiation and conclusion of the oil bid round were meticulously guided by the Petroleum Industry Act of 2021 and the regulatory frameworks established by the NUPRC.

Indabawa narrated in the statement that there were several public hearings held with industry stakeholders and regulators sharing their perspectives and opinions, and offering some sort of oversight.

The statement noted that relevant government agencies, civil society organisations, international media representatives, and both local and international firms were all involved in the final process from the beginning to the final stages.

He added that the process leveraged digital technology and minimized human interference to enhance transparency, and the outcome was televised live, thus eliminating room for underhanded dealings, the NATION reports.

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The rejoinder further questioned the absence of names in the report, with the writer tagged as “Our reporter” and all of the sources, nameless and anonymous. Indabawa stated that such a reporting approach questions the bias and agenda behind the article.

The statement concluded;

“The meticulous processes and regulatory frameworks established by the NUPRC during the 2024 Oil Bid Round demonstrate a commitment to transparency and fairness in the industry. Allegations of misconduct, particularly those lacking substantive evidence, distract from the real advancements being made in the oil sector and contribute to a culture of misinformation."

The federal government has also shared plans to conduct another oil bloc licensing round in 2025.

This is part of moves to increase the number of oil rigs and ramp up crude oil production in Nigeria before the end of 2025.

FG removes five oil blocs from licensing rounds

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In related news, Legit.ng reported that the federal government had removed five oil blocs from the 2024 licensing round.

This was done because the five oil blocks were reportedly involved in different legal disputes.

The Nigerian Upstream Petroleum Regulatory Commission confirmed that the assets affected are PPL3008, PPL3009, PML51, PPL267, and PPL268 are the assets that are impacted.

Source: Legit.ng