The Group Chief Government Officer of NNPC Restricted, Engr. Bashir Bayo Ojulari, has said that Africa stays depending on hydrocarbons for income and international alternate, making sustained upstream manufacturing non-negotiable.
Talking through the CERAWeek 2026 in Houston, Texas, Ojulari defined that with over 600 trillion cubic toes of confirmed reserves, gasoline represents not merely a transition gasoline however a strategic financial lever for industrialisation and vitality safety throughout the continent.
He said that deepwater stays a precedence as a result of it gives scale, it’s much less uncovered to onshore challenges, and attracts international capital.
He mentioned unlocking Nigeria’s vital confirmed however undeveloped reserves, requires business self-discipline, aggressive fiscal frameworks, and powerful partnerships.
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Addressing Nigeria’s long-discussed gasoline potential, the GCEO famous that what’s completely different now could be execution self-discipline.
Three key enablers are receiving centered consideration: business pricing throughout the worth chain, important infrastructure just like the AKK (Ajaokuta-Kaduna-Kano) pipeline, and bankable contracts that present investor certainty.
On the steadiness between home gasoline wants and LNG exports, Engr. Ojulari described a dynamic method of portfolio optimisation–allocating gasoline the place it delivers the best mixed nationwide and business worth.
In response to the GCEO, “Nigeria is the dependable vacation spot for vitality funding the world wants. The nation has positioned itself as a reliable provider, driving on the established legacies of secure insurance policies, improved vitality infrastructure safety, partnerships, and, lastly, the orientation of the federal government. The President has given NNPC the autonomy to behave on its behalf and consolidate business options which might be long-lasting.”
In a press release by NNPC Restricted’s, Chief Company Communications Officer, Andy Odeh, Ojulari added that the “Steadiness will not be about equal allocation; it’s about optimum sequencing,” Ojulari said, outlining a portfolio the place oil sustains worth at present, gasoline underpins industrial development, and transition investments are focused and disciplined. He additional highlighted the important function of partnerships in de-risking Nigeria’s deepwater property, noting that international gamers like Shell and Eni deliver not solely capital however execution functionality, expertise, and challenge discipline–particularly for property like OPL 245 and different deepwater developments.
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In response to the oil govt, the Petroleum Trade Act (PIA) has now firmly established regulatory certainty, whereas infrastructure gaps are being closed by way of focused investments and safety is being strengthened by way of a extra strong structure.
“When the basics are proper, partnerships scale naturally,” he added.
