Mkpoikana Udoma
Port Harcourt — The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPC Ltd., Engr. Bashir Bayo Ojulari, has called on international investors to seize the vast opportunities in Nigeria’s energy sector, describing the country as Africa’s most attractive investment destination.
Speaking during an interactive session with NBC’s Hala Gorani at the Energy Talk segment of the ongoing Gastech Exhibition and Conference in Milan, Ojulari said the reform-driven administration of President Bola Ahmed Tinubu has created the right environment for capital inflow into oil, gas, and new energy.
“Nigeria is open for business, and the opportunities here are enormous,” Ojulari declared. “From gas-based industries such as petrochemicals and methanol plants to investments in critical infrastructure, there is room for partners who are ready to grow with us.”
According to him, although several investors were already moving into Nigeria’s gas sector, far more was needed to accelerate the Federal Government’s ambition to power the transportation sector with Compressed Natural Gas, CNG.
“We require more investments to build infrastructure that will support the transition to CNG-powered vehicles,” he noted.
“Apart from gas, our crude oil assets still hold huge untapped reservoirs. We have over 200 undeveloped oil fields waiting for investors to unlock. This is an opportunity to boost production beyond the current 1.7 million barrels per day.”
Highlighting measures to attract global funding, the GCEO disclosed that NNPC Ltd. was ramping up investments in carbon capture projects, energy efficiency technologies, and gas flare reduction, in line with global sustainability standards.
“Our financing partners demand compliance with energy transition goals, and NNPC Ltd. is fully committed. We are making the right investments to align profitability with sustainability,” he said.
Ojulari also provided updates on ongoing critical infrastructure projects.
“The Ajaokuta-Kaduna-Kano, AKK, Gas Pipeline is at an advanced stage, and the NLNG Train 7 Project is progressing well. These projects will unlock new markets and strengthen Nigeria’s role as a global gas supplier,” he explained.
The NNPC boss stressed that Nigeria’s energy transition strategy was not about abandoning hydrocarbons but about addressing energy poverty with practical solutions.
“We see gas as the fuel of choice for industrialization, while Liquefied Petroleum Gas, LPG, is critical as domestic cooking fuel for over six million Africans who currently lack access to clean energy,” he said.
The ongoing Gastech 2025 Conference has drawn more than 50,000 industry professionals and over 1,000 exhibitors from 150 countries, underscoring its reputation as a premier platform for shaping the future of global energy.
This article was originally posted at sweetcrudereports.com
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