By Our Correspondent
The Group Chief Executive Officer of the NNPC Limited, Engr. Bashir Bayo Ojulari, has said Nigeria remains an attractive destination for global energy investment, stressing that the country’s fundamentals are strong and its value proposition clear.
Ojulari made the remarks on Monday at CERAWeek 2026 in Houston, United States, where he addressed top industry leaders, policymakers and executives.
Speaking under the conference theme, “Convergence and Competition: Energy, Technology and Geopolitics,” the NNPC boss said Nigeria’s energy strategy is anchored on realism, strong partnerships and disciplined execution.
“Capital goes where value is clear, and Nigeria has that value,” he said.
He explained that the country is not choosing between immediate energy demands and long-term transition goals but leveraging current resources to fund future development.
“We are not choosing between today and tomorrow; we are funding the future with the present,” Ojulari added.
According to him, Africa’s reliance on hydrocarbons for revenue and foreign exchange makes sustained upstream investment essential, noting that Nigeria’s vast gas reserves position it as a key driver of industrialisation and energy security on the continent.
Ojulari further described Nigeria as a reliable supplier of energy, citing improved policy stability, enhanced infrastructure security and stronger government backing for commercial operations.
“The President has given NNPC the autonomy to act and deliver long-term commercial solutions,” he said.
On investment strategy, the GCEO emphasised the importance of balance, noting that oil remains critical for current revenue, gas will drive industrial growth, while energy transition investments will be pursued in a targeted and disciplined manner.
He also highlighted the role of international partnerships in developing deepwater assets, referencing collaborations with companies such as Shell plc and Eni S.p.A..
Ojulari said the enactment of the Petroleum Industry Act has improved regulatory certainty, while ongoing investments are addressing infrastructure gaps and strengthening security across the sector.
“When the fundamentals are right, partnerships scale naturally,” he noted.
On gas development, he said the focus has shifted to execution, with attention on commercial pricing, infrastructure such as the Ajaokuta-Kaduna-Kano pipeline, and bankable contracts to attract investors.
He added that Nigeria is adopting a flexible approach in balancing domestic gas supply with LNG exports to maximise both national and commercial value.
Ojulari stressed that the country is moving from mere resource ownership to resource monetisation, with deepwater projects remaining a priority due to their scale and attractiveness to global investors.
CERAWeek, hosted by S&P Global, runs from March 23 to 27, 2026, and has drawn over 10,000 participants from across the global energy sector.
