The Nigerian National Petroleum Company Limited (NNPC Ltd) is setting its sights on a bold target, attracting $60 billion in partnerships by 2030 to transform energy across Africa. The company’s Group Chief Executive Officer, Bashir Bayo Ojulari, announced this goal at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), where he stressed Nigeria’s critical role in powering the continent’s future.
Ojulari emphasized that NNPC Ltd is not simply “participating in the energy transition, we are shaping it from an African perspective. Our focus is pragmatic: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike.” He added that the company is already working to raise between $30 billion and $60 billion in fresh capital by the end of the decade, collaborating with other national oil companies, international partners, and financial institutions.
In terms of production milestones, NNPC Ltd has boosted Nigeria’s oil output to approximately 1.7 million barrels per day, with ambitions to reach 2 million barrels per day by 2027, and even 3 million barrels per day in the longer run. The company pointed to newly introduced government incentives under the Petroleum Industry Act (PIA) that are spurring foreign interest in deep-water exploration, dry gas development, and operational cost optimisation. Key flagship projects include the upstream revitalisation programme, new field developments, and major gas-infrastructure schemes such as the Ajaokuta–Kaduna–Kano (AKK) pipeline and the Obiafu–Obrikom–Oben (OB3) pipeline.
From a continental viewpoint, Ojulari noted that Africa’s energy future must rest on pragmatism, partnerships, and purpose. He reiterated that Nigeria welcomes global co-investment into its energy transformation agenda: “Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future, and we invite the world to co-invest in Africa’s energy transformation.”
By targeting $60 billion in investments, NNPC Ltd aims to stimulate job creation, strengthen Nigeria’s export earnings, and scale domestic gas monetisation, which could reduce costly LNG imports and bolster fiscal revenues, thereby improving the macro-economic outlook for Nigeria and enhancing the region’s energy security.
