NNPC Affirms Huge Opportunities Abound in Nigeria’s Energy Sector
The Nigerian National Petroleum Company Limited (NNPC Ltd), has called on international investors to tap into the huge opportunities in the nation’s energy sector.
Group CEO of NNPC Ltd, Mr Bashir Ojulari made the call while fielding questions from NBC’s Hala Gorani, during the Energy Talk segment of the Gastech Exhibition and Conference, taking place in Milan, Italy.
Ojulari, in a statement in Abuja by Andy Odeh, Chief Corporate Communications Officer, NNPC Ltd., commended President Bola Tinubu for improving Nigeria’s investment climate and positioning the country as the preferred investment destination in Africa.
The GCEO said that the new NNPC Ltd. management was keen on attaining its set targets towards delivering value to its shareholders.
According to him, while a number of investors were already coming into the country with gas-based industries such as petrochemicals and methanol plants, more investments were required.
This, he said would build infrastructure to support the Federal Government’s aspiration to power the nation’s transportation sector with Compressed Natural Gas (CNG).
Ojulari further explained that apart from gas, the existing crude oil assets have huge untapped reservoirs for investors to tap into towards boosting production from the current 1.7million barrels per day, besides more than 200 oil fields undeveloped.
On measures being taken to make Nigeria an investors’ haven, the GCEO said it was investing heavily in carbon capture projects and technology to enhance energy efficiency and reduce gas flaring in compliance with the objectives of financing partners.
He said that a number of critical gas infrastructure projects in the country, such as the Ajaokuta-Kaduna-Kano (AKK) Gas pipeline, were in their advanced stages, while the NLNG Train 7 Project was also being progressed.
“Nigeria’s energy transition strategy is focused on eradicating energy poverty.
“This requires enormous investments in gas as the fuel of choice for industrialisation and Liquefied Petroleum Gas (LPG) as domestic cooking gas for the more than six million Africans who lack access to clean energy,” he said.
Gastech, a leading annual gas conference where global energy leaders discuss developments that affect the future of the energy industry is being attended by more than 50,000 professionals and more than 1,000 exhibitors from 150 countries.
