The Nigerian National Petroleum Company Limited (NNPC Ltd) has called on global investors to explore opportunities in Nigeria’s oil and gas sector, citing robust regulatory reforms and investment-friendly policies under the administration of President Bola Ahmed Tinubu.
According to Olufemi O. Soneye, Chief Corporate Communications Officer of NNPC Ltd., Abuja, the Executive Vice President, Upstream, Mr. Udy Ntia, emphasized Nigeria’s strategic positioning as a secure and attractive destination for energy investments while speaking at the 2025 CERAWeek by S&P Global in Houston, Texas.
“For us in Nigeria, despite global energy security challenges, we see significant opportunities. We have positioned our assets to leverage the strong price environment over the past two to three years, and we anticipate substantial investment inflows into the sector,” Ntia stated.
Ntia outlined key investment opportunities in refining and gas, emphasizing Nigeria’s plan to expand refining capacity to reduce import dependence and harness its 207 trillion cubic feet (TCF) of gas reserves to drive industrialization and economic growth. He noted progress in gas infrastructure projects, including the LNG Train 7 project and domestic pipeline networks.
The EVP credited the Petroleum Industry Act 2021 and executive orders signed by President Tinubu in 2023 for liberalizing the sector and improving cost recovery, royalty payments, and profit-sharing mechanisms. He reported that Nigeria attracted $16–17 billion in foreign investments in 2024 following these reforms.
“Nigeria offers a stable democracy, improved security, and a business-friendly regulatory framework. We welcome investors from China, India, and beyond to partner with us in unlocking the vast potential of Nigeria’s oil and gas sector,” Ntia said.
The session included industry leaders such as Pinxian Zhang, Deputy Director-General, Planning, China National Petroleum Corporation (CNPC); Rajarshi Gupta, Managing Director, ONGC Videsh Ltd (OVL); and Masoud Mahmoud, Chairman, Libya’s National Oil Corporation.
CERAWeek is one of the largest global energy conferences, attracting top industry and government leaders to Houston annually for discussions on the future of energy.
