The Nigerian National Petroleum Company Limited (NNPC Ltd.) has appealed to global investors to focus on Nigeria’s oil and gas sector, highlighting government’s robust regulatory reforms and investment-friendly policies.The Executive Vice-President, Upstream, Mr Udy Ntia, made this appeal during a session with investors at the 2025 CERAWeek by S&P Global in Houston, Texas, U.S.
In a statement issued by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., Ntia described Nigeria as an investor’s haven.
He particularly cited the progressive regulatory reforms and pro-business policies of President Bola Tinubu’s administration.
He spoke on the theme “Spotlight: Attracting Investment for Oil and Gas.”
Ntia noted that Nigeria was well-positioned as a safe and attractive investment destination, particularly as the country had expanded its oil and gas industry.
He said that this expansion would enable Nigeria to meet rising global energy demand, driven by geopolitical tensions and the energy policies of the U.S. administration.
“For us in Nigeria, despite global energy security concerns, including those in Europe, we see significant opportunities.
“We have strategically positioned our assets to leverage the current strong price environment, which has remained favourable over the past two to three years.
“As a result, we anticipate substantial investment inflows into the sector,” he said.
The EVP listed some of the areas with huge investment opportunities in the country to include the refining and gas sub-sectors.
He said that Nigeria was keen on expanding its refining capacity to reduce dependency on imports.
He therefore urged them to refocus interest in tapping into the nation’s vast gas reserves of about 207 trillion cubic feet (TCF) to drive industrialisation and economic growth.
“Gas will play a critical role in Nigeria’s energy future. We are expanding our gas infrastructure in collaboration with partners such as Shell, ENI, and Total.
“Our LNG Train Seven project is advancing, and we are investing in domestic pipeline networks to meet local energy demands,” he explained.
Ntia also disclosed that the Petroleum Industry Act 2021 and the series of Executive Orders signed by the President in 2023 had significantly liberalised the regulatory framework.
“These are offering incentives for cost recovery, royalty payments, and profit-sharing mechanisms.”
He added that Nigeria recorded 16 billion dollars to 17 billion dollars in foreign investment inflows in 2024, following the implementation of these regulatory reforms.
He encouraged foreign investors, particularly from China and India, to explore the investment opportunities in Nigeria’s oil and gas sector.
He made reference to the country’s 37 billion barrels crude reserves and flexible investment models, including joint ventures and production-sharing contracts.
“Nigeria offers a stable democracy, improved security, and a business-friendly regulatory framework.
“We welcome investors from China, India, and beyond to partner with us in unlocking the vast potential of Nigeria’s oil and gas sector,” Ntia said. (NAN)