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Nigeria opens oil fields to private bids, clears $1.4B in debts, and plans $10B investment round to boost output.
Nigeria’s state oil company NNPC Limited is inviting bids to sell at least 25% of stakes in selected oil and gas fields, aiming to attract investment and boost production, with bidders required to register by January 10.
The government has also cleared NNPC’s pre-2025 debts to the Federation Account—about $1.4 billion and ₦5.5 trillion—resolving legacy obligations, though newer debts remain.
A major 2025 oil licensing round offering 50 blocks is expected to draw up to $10 billion in investment and increase output by 400,000 barrels per day, with reforms prioritizing credible investors over high bonuses and improving transparency through cash royalty payments and better data access.
Nigeria abre campos petroleros a ofertas privadas, borra $ 1.4B en deudas y planea una ronda de inversión de $ 10B para impulsar la producción.