NNPC Calls on Global Investors to Tap Nigeria’s Oil and Gas Potential

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has urged international investors to seize opportunities in Nigeria’s oil and gas sector, describing the country as Africa’s leading destination for energy investment.

The appeal was made by NNPC’s Group Chief Executive Officer, Bayo Ojulari, during the Energy Talk session at the 2025 Gastech Exhibition and Conference in Milan, Italy, on Tuesday. The remarks were contained in a statement signed by NNPC’s Chief Corporate Communications Officer, Andy Odeh, on September 9.

Ojulari explained that the Federal Government is seeking fresh investments to drive industrialisation and strengthen Nigeria’s role in the global energy market. He noted that President Bola Ahmed Tinubu’s administration has improved the investment climate, positioning Nigeria as the preferred hub for energy investors in Africa.

According to him, Nigeria plans to increase natural gas production to 12 billion cubic feet per day and expand refinery capacity to meet rising global demand. He revealed that the country is targeting at least $60 billion in investment over the next five to seven years to scale up production.

Ojulari highlighted existing opportunities across gas-based industries such as petrochemicals and methanol plants, but stressed the need for more capital to develop infrastructure, particularly to support the government’s push to power transportation with Compressed Natural Gas (CNG).

On crude oil, he disclosed that Nigeria’s untapped reservoirs and over 200 undeveloped fields hold enormous potential, with capacity to boost current production levels beyond 1.7 million barrels per day.

He further noted that NNPC is investing in carbon capture projects, energy efficiency technologies, and gas flare reduction initiatives, in line with global financing standards. Major projects like the Ajaokuta–Kaduna–Kano (AKK) gas pipeline and NLNG Train 7 are already at advanced stages.

Ojulari also emphasized Nigeria’s energy transition strategy, anchored on gas for industrialisation and Liquefied Petroleum Gas (LPG) for household use, with a vision to tackle energy poverty across Africa.

The Gastech conference brought together over 50,000 participants and 1,000 exhibitors from 150 countries, providing a global platform for leaders to discuss the future of energy.