Gastech: NNPC Ltd Invites Global investors to tap Nigeria’s Energy opportunities
CHIGOZIE AMADI
The Nigerian National Petroleum Company Limited (NNPC Ltd) is extending a warm invitation to global investors to explore and capitalize on the vast opportunities available in Nigeria’s thriving energy sector.
This appeal was made by Engr. Bashir Bayo Ojulari, the Group Chief Executive Officer of NNPC Ltd, during an interview with NBC’s Hala Gorani at the Gastech Exhibition & Conference in Milan, Italy.
In a press statement issued to Dailly Champion and signed by Andy Odeh,Chief Corporate Communications Officer
NNPC Ltd.,Ojulari praised President Bola Ahmed Tinubu’s efforts in enhancing Nigeria’s investment environment, positioning the country as a top choice for energy sector investments in Africa.
The NNPC Ltd CEO highlighted existing investments in gas-based industries like petrochemicals and methanol plants, emphasizing the need for further infrastructure development.
According to him, a key focus area is supporting the Federal Government’s goal to utilize CNG for powering Nigeria’s transportation sector, requiring significant investment in infrastructure.
Ojulari assured that the new NNPC Ltd management is committed to achieving its targets and delivering value to shareholders.
He explained that NNPC Ltd has been actively promoting Nigeria’s oil and gas potential, citing the country’s substantial crude reserves (37 billion barrels) and flexible investment models, including joint ventures and production-sharing contracts. The Petroleum Industry Act 2021 and Executive Orders signed by President Tinubu in 2023 have liberalized the regulatory framework, offering incentives for investment.
This outreach, Ojulari said,aligns with Nigeria’s efforts to attract foreign investment, particularly from countries like China and India, to drive industrialization and economic growth through its vast gas reserves (207 trillion cubic feet).
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.
Gastech is a premier annual conference that brings together over 50,000 energy professionals and more than 1,000 exhibitors from 150 countries, making it a leading global event for the natural gas, LNG, hydrogen, climate technologies, and AI-powered energy solutions sectors.
Attendees include top government leaders, industry executives, technology innovators, and financiers from around the world
