The Nigerian National Petroleum Company Limited (NNPC Ltd.) has renewed its call for international investors to seize the vast opportunities in Nigeria’s energy sector, positioning the country as Africa’s top destination for oil and gas investment.
The Group Chief Executive Officer of NNPC Ltd., Bayo Ojulari, made this call during the Energy Talk segment at the 2025 Gastech Exhibition and Conference in Milan, Italy, where he highlighted that Nigeria’s abundant oil and gas resources can power industrialisation and economic growth. He noted that under President Bola Ahmed Tinubu’s administration, the investment climate has improved significantly, with reforms designed to attract private capital and boost transparency.
Ojulari revealed that Nigeria aims to scale up natural gas production to 12 billion cubic feet per day and expand refinery capacity, while seeking at least $60 billion in investment over the next five to seven years. According to him, this ambitious target is crucial to meeting global energy demand and driving the government’s energy transition strategy, which prioritises natural gas as the fuel for industrialisation and LPG for clean cooking.
“President Tinubu has positioned Nigeria as the preferred energy investment hub in Africa,” Ojulari said. “We require additional investments in petrochemicals, methanol plants, compressed natural gas (CNG) infrastructure, and renewable projects to complement existing oil reserves and over 200 undeveloped oil fields.”
The NNPC GCEO also stressed that major projects such as the Ajaokuta–Kaduna–Kano (AKK) gas pipeline and NLNG Train 7 were at advanced stages, while the company is expanding into carbon capture, energy efficiency, and reduced gas flaring in line with global sustainability standards.
Ojulari added that while some foreign investors have already entered the Nigerian market, more capital is required to unlock the full potential of the oil and gas sector. He urged global partners to see Nigeria not just as an oil producer but as a key driver of Africa’s energy future.
For context, Nigeria’s reforms in revenue generation, as seen in the new tax laws effective from 2026, aim to complement the government’s drive to attract foreign direct investment. At the same time, opportunities in real estate and housing investment also connect to broader national growth targets.
More details about the company’s projects and commitments can be found on the NNPC Ltd official site, while insights on global industry trends are available at the Gastech Exhibition and Conference.
