The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Bashir Bayo Ojulari, has called on international investors to direct their attention to Nigeria and tap into the huge opportunities in the nation’s energy sector.
Speaking in Milan, Italy, during the Energy Talk segment of the ongoing Gastech Exhibition & Conference, Ojulari said the existing crude oil assets have huge untapped reservoirs for investors to tap into towards boosting production from the current 1.7 million barrels per day, besides over 200 oil fields that are currently undeveloped
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 to build infrastructure to support the Federal Government’s aspiration to power the nation’s transportation sector with Compressed Natural Gas (CNG).
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On measures being taken to make Nigeria an investors’ haven, the GCEO said NNPC Ltd was investing heavily in carbon capture projects, as well as technology to enhance energy efficiency and reduce gas flaring in compliance with the objectives of financing partners
The MNPC boss explained that Nigeria’s energy transition strategy is focused on eradicating energy poverty which requires enormous investments in gas as the fuel of choice for industrialisation as well as Liquefied Petroleum Gas (LPG) as domestic cooking gas for the over six million Africans who lack access to clean energy.
Noting that a number of critical gas infrastructure projects in the country, such as the Ajaokuta-Kaduna Kano (AKK) Gas pipeline, are in their advanced stages, while the NLNG Train 7 Project is also being progressed. Ojulari commended President Bola Tinubu for improving Nigeria’s investment climate and positioning the country as the preferred investment destination for the energy sector in Africa,
