By Ahmed Aliyu, Abuja
Nigeria’s energy fundamentals remain strong and its value proposition clear, according to Engr. Bashir Bayo Ojulari, Group Chief Executive Officer of NNPC Limited, who delivered a pragmatic assessment of Africa’s energy future at the opening of CERAWeek 2026.
This was contained in a press release signed by Andy Odeh, Chief Corporate Communications Officer, NNPC Limited and made available to Newsmen in Abuja on 23rd March 2026.
Speaking at the world’s premier energy gathering, themed “Convergence and Competition: Energy, Technology and Geopolitics,” Ojulari told a global audience of energy leaders that Nigeria’s strategy is anchored on realism, partnerships, and disciplined execution.
“Capital goes where value is clear, and Nigeria has that value,” he declared, setting the tone for a leadership dialogue that emphasized balancing immediate energy needs with long-term transition ambitions.
Gas as Strategic Lever
Ojulari underscored the continent’s reliance on hydrocarbons for revenue and foreign exchange, stressing that sustained upstream production remains non-negotiable. With Nigeria’s proven reserves of over 600 trillion cubic feet of gas, he described the resource not just as a transition fuel but as a strategic lever for industrialisation and energy security.
He highlighted three enablers driving Nigeria’s gas agenda:
Commercial pricing across the value chain. Critical infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) pipeline. Bankable contracts that guarantee investor certainty
Partnerships and Policy Certainty
The NNPC boss pointed to the Petroleum Industry Act (PIA) as a foundation for regulatory stability, while noting that infrastructure gaps are being closed through targeted investments and enhanced security architecture. He emphasized the importance of partnerships with global players like Shell and Eni, which bring capital, technology, and execution discipline to Nigeria’s deep water assets.
“Balance is not about equal allocation; it is about optimal sequencing,” Ojulari explained, outlining a portfolio where oil sustains value today, gas drives industrial growth, and transition investments are pursued with discipline.
From Ownership to Monetisation
Ojulari articulated a strategic shift from resource ownership to resource monetisation, stressing that unlocking Nigeria’s undeveloped reserves requires competitive fiscal frameworks and strong partnerships. Deep water projects, he noted, remain a priority due to their scale and resilience against onshore challenges.
Global Spotlight
CERAWeek 2026, hosted by S&P Global in Houston, runs from March 23–27 and brings together over 10,000 global energy leaders, executives, and officials to explore the convergence of energy, technology, and geopolitics.
His remarks reinforced Nigeria’s positioning as a reliable destination for energy investment, backed by stable policies, improved infrastructure security, and government support.
