The Nigerian National Petroleum Company Limited (NNPC Ltd) is urging international investors to channel funds into Nigeria to seize major opportunities within the nation’s energy sector.
Speaking during the Energy Talk segment of the Gastech Exhibition & Conference in Milan, Italy, NNPC Ltd’s Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, emphasized that Nigeria’s existing oil and gas assets hold significant untapped potential. He stated that while crude oil production currently stands at about 1.7 million barrels per day, there are more than 200 undeveloped oil fields that could help boost output. In the gas sector, the goal is to reach 12 billion cubic feet per day of production.
Ojulari also revealed that NNPC Ltd is targeting USD 60 billion in investment over the next 5 to 7 years, to expand infrastructure, refine gas‐based industrialization, and support Nigeria’s transition strategy. Alongside petrochemicals and methanol plants already under development, there are major infrastructure projects underway—including the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and NLNG Train 7 expansion.
In its commitment to sustainable energy practices, NNPC Ltd is investing in carbon capture, adopting technology for energy efficiency, and seeking to reduce gas flaring in line with global environmental standards. Moreover, the firm supports initiatives to use Compressed Natural Gas (CNG) for transportation and Liquefied Petroleum Gas (LPG) for domestic cooking—part of measures to curb energy poverty for millions who lack access to clean energy.
Ojulari commended President Bola Ahmed Tinubu’s reforms, which, he said, have improved the country’s investment climate and strengthened Nigeria’s position as a preferred energy investment destination in Africa.