Tag: NNPC Limited

  • Africa Must Align Infrastructure and Capital to Secure Energy Future – Ojulari

    Africa Must Align Infrastructure and Capital to Secure Energy Future – Ojulari

    The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, has identified shared infrastructure, policy alignment, coordinated investment frameworks, and cross-border collaboration among African National Oil Companies (NOCs) as critical pillars for securing Africa’s energy future.

    Ojulari made the remarks during a fireside chat at the International Energy Week 2026 in London, according to a press statement issued on Wednesday by Mr. Andy Odeh, Chief Corporate Communications Officer of NNPC Limited.

    The session featured discussions with Mr. Andy Brown, Deputy Chair of Ørsted and President of the Energy Institute, focusing on Africa’s pathway to energy security and sustainable growth.

    Bayo Ojulari, GCEO, NNPC Ltd (r) and Mr. Andy Brown, Deputy Chair of Ørsted and President of the Energy Institute

    Expanding Regional Infrastructure

    Ojulari stressed the imperative of expanding cross-border energy infrastructure across Africa, noting that NNPC Limited’s ongoing regional gas initiatives demonstrate how shared assets can unlock scale, efficiency, and resilience.

    He highlighted flagship projects such as the Nigeria–Morocco Gas Pipeline and the expansion of the West African Gas Pipeline as vital to strengthening regional integration and advancing cross-border energy trade.

    According to the statement, Ojulari described these initiatives as strategic levers for deepening economic integration and boosting industrialisation across the continent.

    Harmonising Policies to Attract Investment

    The NNPC GCEO also called for aligned pricing frameworks, harmonised transit protocols, local content standards, and joint technical regulations across African markets.

    Drawing lessons from Nigeria’s Petroleum Industry Act, he said regulatory clarity and consistency are essential to reducing investment friction, safeguarding cross-border infrastructure, and ensuring equitable access to shared energy assets.

    The statement noted that such reforms are crucial to creating a predictable investment climate capable of attracting long-term capital into Africa’s energy sector.

    Collective Capital Mobilisation

    Ojulari further advocated structured joint investment platforms among African NOCs, stressing that acting collectively would enhance the continent’s ability to mobilise and deploy capital efficiently.

    “Africa can attract and deploy capital more effectively when acting collectively rather than individually,” he was quoted as saying in the statement.

    Balancing Growth with Climate Commitments

    On NNPC Limited’s ambition to grow oil production, scale gas output, and attract investment, Ojulari emphasised the need for a pragmatic, Africa-centric strategy that positions energy as both a driver of economic development and a contributor to global climate goals.

    “Our pathway is clear: grow production responsibly, scale gas as the backbone of Africa’s industrialisation, strengthen environmental accountability, and align with global decarbonisation objectives—while ensuring that Africans are not left behind in the energy transition,” he stated.

    International Energy Week is a leading global platform that brings together policymakers, industry executives, investors, regulators, and technology innovators to shape dialogue on energy security, transition pathways, capital formation, and sustainability.

    Fireside at the International Energy Week, London

    The statement reaffirmed NNPC Limited’s commitment to regional cooperation, integrated gas market development, and sustained diplomacy among African NOCs to secure the continent’s energy future.

  • NNPC/Renaissance JV Boosts Cancer Fight at National Hospital

    NNPC/Renaissance JV Boosts Cancer Fight at National Hospital

    …Donates $300,000 for maintenance of cancer treatment machine


    The NNPC/Renaissance Joint Venture (JV) has donated $300,000 (Three Hundred Thousand US Dollars) to the National Hospital, Abuja, to support the maintenance of its advanced Linear Accelerator (LINAC) Radiotherapy Machine, a key facility for cancer treatment in Nigeria.

    Sustaining Lifesaving Technology

    In a statement, NNPCL Chief Corporate Communications Officer, Mr. Andy Odeh disclosed that the LINAC machine was originally donated by the JV in 2019 as part of its Corporate Social Responsibility (CSR).

    It was stated that the initiative was aimed at strengthening Nigeria’s cancer care ecosystem. The project also included the provision of data and ancillary systems, as well as the training of medical professionals to operate the high-precision equipment.

    Speaking during a presentation ceremony at the office of the Coordinating Minister of Health and Social Welfare, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (NUIMS), Engr. Oluwaseyi Omotowa, outlined the impact of the intervention.

    “Since installation, the LINAC machine has facilitated treatment for over 2,000 patients, reduced treatment costs by 80%, shortened therapy sessions from 12 minutes to 2 minutes, and provided subsidised care for 712 indigent patients,” Omotowa said, represented by Nkechi Anaedobe, Head of Business Services, NNPC-NUIMS.

    He explained that the latest donation would ensure timely maintenance, minimal downtime, compliance with international standards, and precise calibration — all vital to maintaining the efficiency and safety of radiotherapy treatment.

    “As we move forward, the JV will continue to forge partnerships that not only address immediate healthcare needs but also build a robust foundation for future medical advancements,” he added.


    “Together, we are not just treating illnesses; we are fostering a healthier, more resilient nation.”

    Government Commends Initiative

    The Coordinating Minister of Health and Social Welfare, Dr. Muhammed Ali Pate, lauded the NNPC/Renaissance JV for its continued support, describing the gesture as “worthy of emulation” by other corporate entities.

    “This intervention aligns perfectly with broader government efforts to revamp critical infrastructure and improve healthcare quality for Nigerians,” Dr. Pate noted.
    “Quality healthcare comes at a cost, and with President Bola Ahmed Tinubu’s renewed focus on health sector investment, partnerships like this significantly strengthen the cause.”

    A Lifeline for Cancer Patients

    The Chief Medical Director of the National Hospital, Dr. Muhammad Raji Mahmud, described the support as a lifeline of hope for thousands of cancer patients who depend on the hospital’s services each year.

    “At the National Hospital Cancer Centre, we treat thousands of patients annually, and the impact of NNPC and Renaissance’s backing has been profound. It has strengthened local cancer care, reduced medical tourism, and enhanced our national capacity to treat cancer effectively,” Mahmud said.

    Strategic Investment in Healthcare

    Also speaking, the Managing Director/Chief Executive Officer of Renaissance Africa Energy Company, Mr. Tony Attah, reaffirmed the company’s commitment to sustainable healthcare and medical innovation.

    “This is not charity. It is a strategic investment in the well-being of Nigerians, in the resilience of our health systems, and in the shared future we all strive to build,” Attah emphasized.
    “When people are healthy, they contribute meaningfully to their families, communities, and the nation.”

    About the NNPC/Renaissance JV

    The NNPC/Renaissance Joint Venture is a partnership between the Nigerian National Petroleum Company Limited (NNPC Ltd.) and Renaissance Africa Energy Company, focused on responsible energy development and impactful corporate social investments in key areas such as healthcare, education, and environmental sustainability.


  • NNPC Limited Unveils Record ₦5.4 Trillion Profit

    NNPC Limited Unveils Record ₦5.4 Trillion Profit

    Announces $60 Billion Expansion Plan,

    … As Ojulari Pledges Strategic Investments to Sustain Growth into Next Decade

    NNPC Limited has recorded a historic Profit After Tax of ₦5.4 trillion on revenue of ₦45.1 trillion for 2024, marking its strongest financial performance in recent years.

    The results showcase the company’s operational excellence and set the stage for ambitious investments to sustain growth through the next decade.

    Strong Financial Performance

    In a statement, Andy Odeh, Chief Corporate Communications Officer, quotes Bayo Ojulari, NNPC Ltd Group Chief Executive Officer as saying that the results reflect NNPC Limited’s financial resilience and the success of its transformation into a fully commercial, profit-driven entity.

    Key figures from the 2024 financial year include:

    • Revenue: ₦45.1 trillion, up 88% year-on-year
    • Profit After Tax: ₦5.4 trillion, up 64% year-on-year
    • Earnings Per Share (EPS): ₦27.07, up 64%

    “The 2024 results demonstrate the positive impact of our ongoing transformation and the dedication of our workforce,” Ojulari said.

    “They provide a strong foundation for the company’s ambitious growth plans and reaffirm our commitment to delivering value to Nigerians.”

    $60 Billion Investment Pipeline

    NNPC Limited is accelerating investments across oil and gas production, infrastructure, and clean energy initiatives to drive energy security and economic growth.

    Strategic targets include:

    • Crude Oil Production: 2 million barrels per day (bpd) by 2027; 3 million bpd by 2030
    • Natural Gas Production: 10 billion cubic feet per day (bcf/d) by 2027; 12 bcf/d by 2030
    • Completion of major gas infrastructure projects including Ajaokuta-Kaduna-Kano (AKK), Escravos-Lagos Pipeline System (ELPS), and Obiafu-Obrikom-Oben (OB3) pipelines
    • Mobilising $60 billion in investments across upstream, midstream, and downstream sectors by 2030

    “Our transformation is anchored on transparency, innovation, and disciplined growth,” Ojulari added. “NNPC Limited is positioning itself as a globally competitive energy company, delivering sustainable returns while powering the future of Nigeria and Africa.”

    About NNPC Limited

    Founded in 1977, NNPC Limited is Nigeria’s leading oil and gas company.

    The organisation, fully commercial and profit-driven since 2022 under the Petroleum Industry Act (PIA), operates across the entire oil and gas value chain, from exploration and production to refining and distribution.

    NNPC Limited plays a pivotal role in driving energy security and economic growth for Nigeria and the continent.

    The 2024 Audited Financial Statement is available at www.nnpcgroup.com.


  • Let’s Support Tinubu, NNPCL – Civil Rights Group

    A conference of civil society groups for good governance (CSGGG) is calling for collective support for the progress and growth of NNPC Limited under the capable leadership of Mele Kyari.

    They have expressed concerns about the negative efforts to discredit Mallam Kyari, the Group Chief Executive Officer of NNPC Limited, aimed at removing him from office to gain unrestricted access to state resources for personal gain.

    The group, represented by its President, Comrade Dominic Ogakwu, is responding to an unwarranted smear campaign against the remarkable achievements and ongoing progress of the Nigerian National Petroleum Company Limited (NNPC) in certain sections of the media.

    He refuted the claim that there is a secret award of control of Nigeria’s pipelines to a Northern oil cabal, calling it not only baseless and a product of the imagination but also a cowardly assertion.

    According to Ogakwu, the spreading of gross misinformation and unsupported allegations regarding oil pipeline rehabilitation and surveillance contracts has become a weapon of choice for these unpatriotic elements. He emphasized that these recent attempts lack substance and are mere distractions.

    He issued a warning to those determined to undermine President Bola Tinubu’s transformative leadership, urging them to reconsider their actions and cease their meaningless agitations and threats.

    Ogakwu further explained, “To award such a contract, a transparent tendering process is required, involving public notices and invitations for qualified companies to bid. The contracts have been awarded following rigorous procedures consistent with industry norms, and each bidding company underwent a competitive tender selection process, overseen by regulatory institutions such as the Bureau of Public Procurement (BPP), Infrastructure Concession Regulatory Commission, transaction advisors, Nigeria Extractive Industry Transparency Initiative (NEITI), and the Ministry of Justice.”