The Nigerian National Petroleum Company Limited, (NNPCL) has reiterated its commitment to national development, saying that it is working towards the industry attracting about to $30 billion by 2027 and $60 billion by 2030.
Bayo Ojulari,Group CEO, NNPC Limited made this disclosure while delivering a speech with the theme: “Accelerating Global Energy Progress Through Investment, Partnerships & Innovation” at the ongoing 24th Nigeria Oil and Gas Conference and Exhibition in Abuja.
According to him NNPCL is committed to national development. “Our mandate remains rooted in three pillars: ensuring energy security, enabling economic growth, and creating long-term value for the country.
And critically, we see ourselves not only as participants in the energy transition, but as leaders, pushing Nigeria’s shift to cleaner fuels, with natural gas as the bridge, and renewables on the horizon.”
He stated that in 2024, the industry attracted $17 billion in new investments. Our target is to increase investments across the energy value chain to $30 billion by 2027 and $60 billion by 2030.
These investments, he stated, will underpin our national aspiration to raise crude oil production to two million barrels per day by 2027, and three million barrels per day by 2030.
Goal
“Our greater goal is to achieve 10bcf/day of gas production by 2027 and attain 12bcf/day by 2030.”
“The roadmap to deliver on this mandate is clear:
First, through strategic partnerships with IOCs, indigenous producers, technology providers, and capital markets.
Second, through performance contracts and key performance indicators that drive accountability and results at every level of our operations.
Third, through investment in diversification, digital transformation, and most importantly, investment in our People.”
“We are prioritising gas. From upstream development to processing, transportation, and utilisation, NNPC is fully aligned with the national gas expansion programme. We believe natural gas is the magic bullet that will industrialise Nigeria, provide affordable power, reduce emissions, and improve lives.”
He therefore extends an open invitation to NNPCL domestic and international partners, urging them to join hands with NNPCL to build the future together.
“In the midst of the challenges, there is unprecedented opportunity in Nigeria today. Thanks to reforms brought by the Petroleum Industry Act, we now have a regulatory and fiscal environment that is clear, stable, and investment friendly. NNPC is your dependable partner: commercially focused and aligned with global standards.”
“And Nigeria is a gateway, not just to over 200 million people, but to an African continent that is awakening to its energy potential.
Now is the time to invest. Now is the time to innovate. Now is the time to form partnerships that go beyond transactions and deliver long-term transformation.”
