NNPC boss tells global investors at CERAWeek 2026 that disciplined execution and policy clarity will drive energy growth…
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Bashir Bayo Ojulari, has said Nigeria must embrace stronger commercial discipline and competitive fiscal policies to fully unlock its vast gas reserves.
Ojulari made this known while speaking at CERAWeek 2026 in Houston, Texas, where he outlined Nigeria’s evolving strategy for maximising its energy potential.
According to a statement by NNPC spokesperson Andy Odeh, the energy chief emphasised that while Nigeria’s gas potential has long been recognised, the focus is now shifting toward disciplined execution and practical delivery.
From Potential to Performance
Addressing the long-standing conversation around Nigeria’s gas wealth, Ojulari noted that the difference this time lies in a more deliberate and structured approach.
He explained that unlocking the country’s significant “proven but undeveloped” gas reserves would require a combination of:
- Clear commercial discipline
- Investor-friendly fiscal policies
- Strong, strategic partnerships
“Capital flows where value is evident, and Nigeria has that value,” he said, stressing that the country is positioning itself to attract long-term investment into its energy sector.
Balancing Domestic Needs and Exports
On the question of managing domestic gas supply alongside liquefied natural gas (LNG) exports, Ojulari advocated a flexible, value-driven strategy.
He described this as a “portfolio optimisation” approach, allocating gas resources to areas where they deliver the highest combined economic and commercial returns.
Rather than choosing between local consumption and exports, he said Nigeria is focused on leveraging current resources to fund future growth.
“We are not choosing between today and tomorrow; we are funding the future with the present,” he noted.
Gas as a Strategic Asset
Ojulari highlighted that with over 600 trillion cubic feet of proven reserves, gas should not be seen merely as a transition fuel, but as a core driver of industrialisation and energy security.
He added that for Africa, hydrocarbons remain critical for revenue generation and foreign exchange, making sustained upstream investment essential.
Nigeria’s Investment Case
Making a case to global investors, Ojulari described Nigeria as a dependable energy destination, citing improvements in policy stability, infrastructure security, and regulatory clarity.
He pointed to reforms under the Petroleum Industry Act as a major step in creating a more predictable operating environment for investors.
According to him, the federal government has also strengthened NNPC’s autonomy, enabling it to pursue commercially viable and sustainable solutions.
Role of Global Partnerships
Ojulari underscored the importance of international partnerships in driving large-scale energy projects, particularly in deepwater exploration.
He noted that companies such as Shell and Eni bring not just capital, but also technical expertise, execution capacity, and operational discipline, critical factors for complex assets like OPL 245.
“Once the fundamentals are right, partnerships scale naturally,” he said, reinforcing the idea that investor confidence grows with strong policy and operational frameworks.
A Three-Part Energy Strategy
Ojulari outlined a balanced energy vision for Nigeria:
- Oil to sustain immediate value
- Gas to drive industrial expansion
- Energy transition investments to secure the future
He stressed that achieving this balance requires careful sequencing rather than equal allocation of resources.
As global energy markets evolve, Ojulari’s message was clear: Nigeria is ready to move beyond potential and deliver results provided the right mix of policy, discipline, and partnerships is sustained.
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