By Obas Esiedesa, Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced 31 companies as winners of 37 oil and gas blocks in the 2025 Licensing Round, following a competitive bidding process that attracted 200 bids from 143 companies.

The winners emerged at the commercial bid conference held on Tuesday at the Transcorp Event Centre, Abuja, marking the conclusion of the competitive phase of the licensing exercise.

According to the commission, the 37 awarded blocks were selected from the 50 oil and gas blocks offered across the Niger Delta onshore, shallow water and deep offshore areas, as well as the frontier basins of the Benue Trough, Chad Basin, Anambra Basin and Benin Basin.

NUPRC said while 37 blocks attracted bids, 13 received no offers. It described the outcome as a milestone, noting that it was the first time Nigeria’s frontier basins had attracted such a high level of investor interest.

The successful companies include SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited, Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field and Nuway Oaklane Limited.

Others are Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.

Some companies secured more than one block. Attabanson Global Company Limited won PPL 2A33 and PPL 901, Gupsco Energy Limited secured PPL 2A44 and 2A51, Concept-Reel Petroleum Services Limited won PPL 2A47 and 2A55, Clinton Oil Field secured PPL 2A48 and 2A62, while Nikstallis emerged successful for PPL 2A61 and PPL 900.

The commission, however, clarified that the companies would only receive their final awards after paying the required signature bonuses and obtaining the approval of the Minister of Petroleum Resources, in accordance with the Petroleum Industry Act, 2021.

Speaking at the event, the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, congratulated the successful bidders and urged them to promptly pay their signature bonuses and commence development of their assets.

She warned that the commission would strictly enforce the “drill or drop” provisions of the Petroleum Industry Act, under which licence holders that fail to develop their assets within the stipulated timeframe risk losing them.

Eyesan also expressed appreciation to President Bola Tinubu for supporting the commission in delivering what she described as a seamless licensing round.

Zenith Bank Plc has been named Africa’s Best Bank and Nigeria’s Best Bank for the second consecutive year at the Euromoney Awards for Excellence 2026, reinforcing its position as one of the continent’s leading financial institutions.

The awards which were presented in London recognises the bank’s strong financial performance, digital innovation, customer service and contribution to economic development across Africa.

The Euromoney Awards for Excellence are regarded as one of the banking industry’s highest awards, assessing institutions on strategy, profitability, risk management, digital transformation and stakeholder impact.

Commenting, Zenith Bank’s Group Managing Director/Chief Executive Officer, Dr. Adaora Umeoji, described the awards as a reflection of the confidence reposed in the bank by its customers and stakeholders.

She said the recognition underscores the dedication of the bank’s workforce and its commitment to building a globally competitive African financial institution. According to her, the awards will further motivate the bank to deepen financial inclusion, deliver superior value to customers and support business growth across the continent.

Umeoji also acknowledged regulators across the countries where Zenith Bank operates for providing an enabling environment and dedicated the awards to the bank’s founder, Jim Ovia, for laying the foundation of excellence that continues to drive its success.

Zenith Bank sustained strong financial performance in the 2025 financial year, recording gross earnings of N4.19 trillion, profit after tax of N1.04 trillion, while reducing its non-performing loan ratio to 3.8 per cent from 4.7 per cent. The latest honours add to Zenith Bank’s growing list of international recognitions, including being ranked Nigeria’s number one bank by Tier-1 Capital for the 17th consecutive year in The Banker’s 2026 Top 1000 World Banks ranking.

•As illegal market hits $17.8bn

By Yinka Kolawole

Nigeria has emerged as one of Africa’s most regulated online gambling markets, even as illegal operators continue to dominate the continent, according to a new report by Gaming Compliance International (GCI).

The report, the first comprehensive assessment of online gambling across all 54 African countries, showed that Africa’s online gambling Gross Gaming Revenue (GGR) reached $23 billion in 2025.

However, only $5.2 billion (23 per cent) was generated by licensed operators, while $17.8 billion (77 per cent) remained in the unregulated market.

In West Africa, total online gambling revenue rose to $4.8 billion in 2025 from $4.3 billion in 2024. Of the 2025 figure, regulated operators accounted for $1.5 billion (31 per cent), while $3.3 billion (69 per cent) flowed to unlicensed platforms, highlighting the region’s persistent enforcement challenges.

Nigeria stood out as the region’s strongest performer, recording the lowest unregulated market share at 56 per cent, compared with the West African average of 69 per cent and the African average of 77 per cent.

The study also found that online gambling participation across Africa increased from 198 million people (13 per cent of the population) in 2024 to 215 million (14 per cent) in 2025.

Despite this growth, GCI estimated that illegal operators deprived African governments of about $3.55 billion in tax revenue in 2025. The number of unlicensed gambling platforms targeting African consumers also rose to 4,129, up from 3,644 in 2024.

Commenting on the findings, GCI Chief Executive Officer, Matt Holt, said the report provides regulators with the first continent-wide benchmark for strengthening oversight and consumer protection.

GCI President, Ismail Vali, urged governments to develop competitive and well-regulated markets that encourage consumers to patronise licensed operators, boost public revenue and attract greater investment.