Nigeria a trustworthy hub for investing in the energy sector, according to NNPC chief

Nigeria is on the cusp of a pivotal moment in its energy evolution, with a focus on execution rather than promises, according to Bayo Ojulari, the Group Chief Executive Officer of NNPC Limited, who spoke at CERAWeek 2026 in Houston, United States.

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Ojulari emphasized that Nigeria is a reliable destination for energy investment, and the country's fundamentals are no longer in question, with what matters now being disciplined delivery, as he delivered a blunt and pragmatic message to a global audience of energy leaders.

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President Bola Tinubu has granted the national oil firm autonomy to act on behalf of the Federal Government in driving sustainable, commercially viable solutions across the energy sector, according to Ojulari, who disclosed this during his speech.

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This move aims to enable the company to implement long-term strategies that will strengthen Nigeria's energy security and investment outlook, as stated by Ojulari, with the information contained in a statement issued by the NNPC Chief Corporate Communications Officer, Andy Odeh.

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Speaking during a high-level session themed "Convergence and Competition: Energy, Technology and Geopolitics," Ojulari framed Nigeria's energy strategy around realism, partnership, and value creation, saying "Capital goes where value is clear, and Nigeria has that value."

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Ojulari articulated NNPC's core philosophy, saying "We are not choosing between today and tomorrow; we are funding the future with the present," in what appeared to be a direct response to global concerns over energy transition risks in developing economies.

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At a fireside chat anchored by Dan Pratt of S&P Global, Ojulari argued that Africa's economic realities make continued hydrocarbon production unavoidable, even as the world accelerates toward cleaner energy, with oil remaining critical for immediate revenue and foreign exchange.

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Nigeria has over 600 trillion cubic feet of gas, which represents a strategic lever for industrialisation and long-term energy security, according to Ojulari, who said "Nigeria is the reliable destination for energy investment the world needs."

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Ojulari further disclosed that President Bola Tinubu's administration has granted the national oil company the operational autonomy required to pursue commercially viable and sustainable energy solutions, with the President giving NNPC the autonomy to act on its behalf.

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The NNPC GCEO emphasized that Nigeria is moving away from merely owning vast hydrocarbon resources to actively monetising them through strategic investments and partnerships, saying "Balance is not about equal allocation; it is about optimal sequencing."

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Ojulari highlighted the importance of international partnerships, particularly in deepwater operations, noting that global oil majors such as Shell and Eni bring not just capital but also technology and project execution capabilities, with assets like OPL 245 being critical to Nigeria's production outlook.

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He pointed out that deepwater projects offer scale, reduced exposure to onshore security risks, and a stronger appeal to global investors, saying "When the fundamentals are right, partnerships scale naturally."

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Ojulari admitted that the difference now lies in execution discipline, with a focus on three key enablers, commercial pricing, infrastructure, and contract certainty, regarding Nigeria's long-touted "Decade of Gas" agenda.

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The ongoing Ajaokuta-Kaduna-Kano Gas Pipeline is a critical backbone for domestic gas utilisation, according to Ojulari, who also emphasised the need for bankable agreements to attract long-term investment.

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Nigeria will adopt a flexible, value-driven approach to balance domestic supply and exports, including liquefied natural gas, said Ojulari, noting that "It is about portfolio optimisation, allocating gas where it delivers the highest combined national and commercial value."

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Ojulari expressed confidence in Nigeria's regulatory environment, stating that the Petroleum Industry Act has significantly improved certainty for investors, with ongoing investments in infrastructure and strengthened security architecture gradually addressing longstanding bottlenecks in the sector.

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The renewed emphasis on execution comes at a critical time, as Nigeria seeks to ramp up production, close infrastructure gaps, and attract foreign capital amid intense global competition, with CERAWeek being one of the world's most influential energy forums.

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Hosted annually by S&P Global, CERAWeek drew over 10,000 executives, policymakers, and industry leaders to debate the future of energy, with this year's edition held from March 23 to 27 in Houston, focusing on the intersection of energy, technology, and geopolitics.

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Ojulari's message signals a strategic pivot for Nigeria, from talking up potential to proving performance, and in a world where capital is increasingly selective, the country's ability to translate its vast resources into tangible value may ultimately determine its place in the evolving global energy order.