Segun Ojumu,
The head of Nigeria’s state-owned oil company, NNPC Ltd, has launched a major appeal for “pragmatic” global partnerships and significant investment to end energy poverty across Africa.
Bashir Ojulari, Group Chief Executive Officer of NNPC Ltd, made the call at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates (UAE) on Tuesday. Speaking during an “Energy Talk” session with Pulitzer Prize-winning author Daniel Yergin, Mr. Ojulari positioned Nigeria, Africa’s largest economy and most populous nation, as the linchpin for driving energy self-sufficiency on the continent.
The Investment Push
The CEO stressed that Africa’s energy strategy must be built on “pragmatism, partnerships, and purpose,” a sentiment that follows a call for “pragmatic, not performative” energy policies made by ADNOC CEO Dr. Sultan Ahmed Al Jaber earlier in the conference.
Mr. Ojulari announced ambitious financial targets, stating the company’s commitment to working with global stakeholders to attract between $30 billion and $60 billion in fresh investment by 2030.”Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future,” Mr. Ojulari said, inviting the world to co-invest in the continent’s energy transformation. The push for capital is being supported by new government incentives, which the GCEO said go beyond the existing Petroleum Industry Act (PIA) to attract financing for deep-water exploration, dry gas development, and cost reduction.
Production and Infrastructure Growth
Mr. Ojulari highlighted concerted efforts under President Bola Tinubu’s administration to transform Nigeria from a primarily extractive economy into a diversified, investment-driven energy hub. Key initiatives cited include:Oil Production Growth: Nigeria has raised its oil output to 1.7 million barrels per day, with a goal of reaching 2 million bpd by 2027.
Gas Infrastructure: Accelerated completion of critical gas pipelines, including the Ajaokuta-Kaduna-Kano (AKK) line and the Obiafu-Obrikom-Oben (OB3), is underway to expand gas monetisation.
Cleaner Energy: The rollout of cleaner alternatives through the Presidential Compressed Natural Gas (CNG) Initiative is expanding autogas corridors nationwide.
The NNPC Ltd’s participation at ADIPEC 2025, one of the world’s largest energy conferences, is seen as an effort to showcase its evolution into a commercially-driven, globally-engaged energy company capable of attracting the necessary international capital.
Add Comment