NNPC Ltd Woos Investors at Gastech, Says Huge Opportunities
Abound in Nigeria’s Energy Sector
CHIGOZIE AMADI
The Nigerian National Petroleum Company Limited (NNPC Ltd) has called
on international investors to direct their attention to Nigeria and tap into
the huge opportunities in the nation’s energy sector.
Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari made
the call while fielding questions from NBC’s Hala Gorani during the Energy
Talk segment of the Gastech Exhibition & Conference, currently taking
place in Milan, Italy.
The GCEO, who commended President Bola Ahmed Tinubu for improving
Nigeria’s investment climate and positioning the country as the preferred
investment destination for the energy sector in Africa, stressed that the
new NNPC Ltd Management is keen on attaining its set targets towards
delivering value to its shareholders.
According to him, while a number of investors were already coming into
the country with gas-based industries such as petrochemicals and
methanol plants, more investments were required to build infrastructure
to support the Federal Government’s aspiration to power the nation’s
transportation sector with Compressed Natural Gas (CNG).
Ojulari further explained that apart from gas, the existing crude oil assets
have huge untapped reservoirs for investors to tap into towards boosting
production from the current 1.7million barrels per day, besides over 200 oil
fields that are currently undeveloped.
On measures being taken to make Nigeria an investors’ haven, the GCEO
said NNPC Ltd was investing heavily in carbon capture projects as well as
technology to enhance energy efficiency and reduce gas flaring in
compliance with the objectives of financing partners.
He said that a number of critical gas infrastructure projects in the country,
such as the Ajaokuta-Kaduna-Kano (AKK) Gas pipeline, are in their
advanced stages, while the NLNG Train 7 Project is also being progressed.
He noted that Nigeria’s energy transition strategy is focused on
eradicating energy poverty which requires enormous investments in gas
as the fuel of choice for industrialization as well as Liquefied Petroleum Gas
(LPG) as domestic cooking gas for the over six million Africans who lack
access to clean energy.
Attended by over 50,000 professionals and more than 1,000 exhibitors
from 150 Countries, Gastech is a leading annual gas conference where
global energy leaders discuss developments that affect the future of the
energy industry
