Bayo Ojulari, the group managing director of the Nigerian Nationwide Petroleum Firm Restricted (NNPC) has known as for a coordinated, strategic method to make Nigeria’s vitality sector extra engaging to international traders, stating that “Nigeria wants a bankable case for vitality investments.”
Talking on the 2025 Society of Petroleum Engineers (SPE) Worldwide Convention in Abuja, Ojulari emphasised the pressing want for Nigeria to current a compelling and credible case to compete for international capital, particularly as sustainability and ESG (Environmental, Social, and Governance) standards more and more affect funding choices.
“In a world the place international capital swimming pools are huge, the competitors for them is fierce. Africa should not simply take part; it should compete. Nigeria should make its vitality story bankable, sustainable, and globally related,” Ojulari stated throughout his digital presentation.
Ojulari’s remarks come at a time when Nigeria, like many African nations, faces mounting stress to stability vitality entry, environmental sustainability, and financial growth, all whereas navigating complicated international vitality transitions.
Learn additionally: Ojulari’s absence stalls Senate N210tn NNPC investigative hearing
Repositioning oil & fuel
Rejecting the notion that oil and fuel are “sundown industries,” Ojulari argued that they continue to be central to a sustainable and inclusive vitality future.
He pressured that fossil fuels should be strategically repositioned to work in tandem with rising vitality applied sciences.
“The way forward for vitality shouldn’t be linear. It’s formed by the selections we make right this moment—how we make investments, how we innovate, and the way we collaborate,” he stated. “We should embrace applied sciences like carbon seize and storage, hydrogen growth, synthetic intelligence, sensible grid methods, and compressed pure fuel (CNG) as strategic enablers—not as buzzwords.”
He highlighted the progress being made with CNG adoption throughout Africa, which he stated is already having a tangible influence.
In line with him, trendy and clear gas alternate options are important to displacing conventional biomass and guaranteeing a simply vitality transition.
Constructing belief
Ojulari underscored the significance of de-risking Nigeria’s vitality surroundings to draw long-term funding.
This, he stated, can solely be achieved by bettering governance, strengthening regulatory frameworks, honouring contracts, and constructing clear dispute decision methods.
“To safe capital, we should not simply promote our assets; we should construct belief,” he stated. “It’s time for governments and the personal sector to co-create funding environments which can be credible, engaging, and future-ready.”
He advocated leveraging monetary devices resembling blended finance and climate-resilient funds, which can assist usher in traders with long-term views, traders who prioritise influence and stability over fast returns.
Power transition
Ojulari reiterated that Africa’s vitality transition should be contextualised and negotiated, not imposed. With hundreds of thousands throughout the continent nonetheless missing entry to dependable electrical energy, the emphasis should stay on vitality justice and inclusion.
“Our transition should be simply. It should mirror the fact that in lots of elements of Africa, vitality poverty remains to be the dominant problem,” he stated. “Pure fuel should be acknowledged as a transitional gas for Africa, permitting us to fulfill local weather objectives with out sacrificing growth.”
Learn additionally: Ojulari-led NNPC resumes monthly report after nearly 3 years
He additionally known as for elevated investments in trendy cooking applied sciences and decarbonisation of heavy industries, noting that hydrocarbons could be responsibly leveraged to construct the infrastructure and schooling methods that Africa wants.
Youth because the Centre of the Transition
In line with Ojulari, no vitality transition can succeed with out investing in individuals, particularly the youth.
He emphasised the significance of empowering younger Africans by way of STEM schooling, inexperienced abilities coaching, and entrepreneurship.
“We should assist our younger individuals see the vitality sector not simply as a spot of extraction, however as an area of invention and inclusion,” he stated. “Allow us to equip them with the instruments to not simply perceive the vitality future—however to construct it.”
He known as on each authorities and personal sector actors to create platforms for youth management and innovation, guaranteeing that the subsequent era is ready to take possession of Africa’s vitality future.
