The Nigerian National Petroleum Company Limited has announced plans to attract $60 billion in investments by 2030 through strategic partnerships aimed at advancing Africa’s energy transition.
Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, disclosed this on Tuesday during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference 2025 in the United Arab Emirates.
Speaking with the session’s host, Pulitzer Prize-winning energy expert Daniel Yergin, Ojulari underscored Nigeria’s central role in Africa’s energy landscape, noting that NNPC Ltd serves as a key driver of the continent’s quest for energy security and transformation.
He emphasized Nigeria’s immense oil, gas, and renewable energy potential, noting that under President Bola Tinubu’s Renewed Hope Agenda, strategic measures are being implemented to reposition the country from an extractive economy to a diversified and investment-led energy hub.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not just participating in the energy transition, we are shaping it from an African perspective. Our focus is pragmatic: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike,” Engr. Ojulari stated.
Ojulari stated that NNPC Limited has increased Nigeria’s oil production to 1.7 million barrels per day, with medium- and long-term targets of 2 million barrels by 2027 and 3 million thereafter. He attributed this progress to strengthened partnerships with international oil companies and independents, the removal of legacy barriers, and a focus on shared value creation.
Reaffirming NNPC Ltd’s commitment to collaboration, he said the company is working closely with OPEC partners, African national oil companies, and global financial institutions to attract between $30 billion and $60 billion in new investments by 2030.
Ojulari added that recent government incentives complementing the Petroleum Industry Act (PIA) are already spurring renewed foreign interest in deep-water exploration, gas development, and operational efficiency improvements.
In a statement by NNPC’s Chief Corporate Communications Officer, Andy Odeh, the GCEO outlined several flagship projects driving Nigeria’s ongoing energy renaissance. These, he said, include the revitalization of upstream operations, accelerated development of new fields, and the expansion of critical gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) gas pipelines.
