NNPC Targets $60 Billion Partnerships to Power Africa’s Energy Transformation by 2030
The Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled an ambitious plan to attract between $30 billion and $60 billion in strategic investments by 2030 to boost Africa’s energy transformation. This vision, according to Group Chief Executive Officer Engr. Bashir Bayo Ojulari, is anchored on forging robust partnerships that will reshape Nigeria’s energy landscape and position the continent for sustainable growth. Ojulari disclosed this during the “Energy Talk Session” at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates.
Speaking with Pulitzer Prize-winning energy expert Daniel Yergin, Ojulari highlighted Nigeria’s vital role in the continent’s energy ecosystem. He emphasized that NNPC Ltd stands at the heart of Africa’s push toward energy sufficiency, describing the company as a key enabler of transformation. “Africa’s energy future must be built on pragmatism, partnerships, and purpose,” he said, stressing that NNPC’s mission is to grow production, monetize gas, deepen global collaborations, and deliver value to both Nigerians and international partners.
Under President Bola Tinubu’s Renewed Hope Agenda, NNPC Ltd is driving a shift from an extractive economy to a more diversified, investment-driven energy hub. Ojulari noted that Nigeria’s oil production has risen to 1.7 million barrels per day, with a target of 2 million by 2027 and 3 million in the long term. These milestones, he said, are supported by renewed engagement with international oil companies (IOCs), the removal of legacy bottlenecks, and the creation of shared value with industry stakeholders.
Ojulari further revealed that NNPC Ltd is collaborating with OPEC members, African national oil companies (NOCs), and global financial institutions to unlock massive capital inflows. New government incentives, introduced to complement the Petroleum Industry Act (PIA), are also sparking fresh interest in deep-water exploration, dry gas development, and cost optimization. Among the flagship projects driving Nigeria’s energy renaissance are the Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) gas pipelines—key infrastructures expected to boost domestic energy capacity and export potential.
Echoing the sentiments of UAE Minister of Industry and ADNOC CEO Dr. Sultan Ahmed Al Jaber, who called for “pragmatic, not performative” energy policies, Ojulari reaffirmed NNPC’s commitment to shaping Africa’s energy transition. He urged international investors to partner with Nigeria in driving sustainable energy development. “Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future. We invite the world to co-invest in Africa’s energy transformation,” he concluded.
source: Nairametrics