The Group Chief Executive Officer of Nigerian National Petroleum Corporation (NNPC) Limited, Bashir Bayo Ojulari, has said that Nigeria is shifting from rhetoric to results in its energy sector, with a strong emphasis on execution and commercial viability to attract global capital.
Speaking at the ongoing CERAWeek 2026 conference in Houston, Tuesday, 24 March 2026, Ojulari told energy leaders that the country’s core strengths are no longer in doubt, urging a focus on disciplined delivery and strategic partnerships.
He revealed that President Bola Tinubu has granted NNPC operational autonomy to drive sustainable, commercially sound initiatives on behalf of the Federal Government, aimed at bolstering energy security and enhancing the investment climate.
“Capital flows where value is evident, and Nigeria possesses that value,” Ojulari stated during a high-level session on “Convergence and Competition: Energy, Technology and Geopolitics.”
He stressed a pragmatic approach that balances immediate needs with future goals. “We are not choosing between today and tomorrow; we are funding the future with the present,” he added.
Ojulari highlighted the critical role of hydrocarbons in Africa’s development, noting that oil continues to generate essential revenue and foreign exchange, while Nigeria’s vast gas reserves, exceeding 600 trillion cubic feet, offer a pathway to industrialisation and long-term energy stability.
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He described Nigeria as a dependable investment destination, supported by stable policies, improved infrastructure and security, and government commitment.
The NNPC chief pointed to deepwater projects, such as OPL 245, as key opportunities that minimise security risks and appeal to international majors like Shell and Eni for their capital, technology, and expertise.
On the “Decade of Gas” initiative, Ojulari acknowledged past delays but stressed renewed focus on commercial pricing, infrastructure development, including the Ajaokuta, Kaduna, Kano Gas Pipeline and contract certainty to unlock investment.
He advocated a flexible strategy for gas allocation, optimising between domestic supply and exports based on maximum national and commercial value, while praising the Petroleum Industry Act for improving regulatory predictability.
The remarks come as Nigeria seeks to boost production, address infrastructure deficits, and compete for foreign investment in a challenging global landscape.
CERAWeek is organised annually by S&P Global and attracts over 10,000 participants. It runs from March 23 to 27.
