The manner in which foreign and indigenous investors received the news of the licensing round for the 19 oil blocks is a testament that Nigeria is already gaining grounds amid stifled investment in hydrocarbon.
On May 7, 2024, the Nigerian Upstream Regulatory Commission (NUPRC) formally launched the licensing round for 12 new oil blocks and 7 old blocks. Nigeria is a frontrunner in the advocacy for a just energy transition
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