NNPC Seeks Energy Partnerships, Reports Output Gains

The Nigerian National Petroleum Company (NNPC) Limited has called for stronger collaboration across Africa's energy industry, saying closer partnerships are essential to attract investment and unlock the continent's energy potential, as the company reported higher oil and gas production and major commercial milestones over the past year.

Speaking at the opening of the 25th NOG Energy Week in Abuja, NNPC Group Chief Executive Officer, Bashir Bayo Ojulari said Africa must strengthen cooperation among governments, investors, regulators and energy companies to accelerate project development and maximise the value of its vast oil and gas resources.

He argued that stronger partnerships, rather than isolated investments, would be critical to expanding energy infrastructure, boosting industrialisation and positioning Africa as a more attractive destination for global capital.

"As Africa's energy landscape evolves, no single organisation can unlock the continent's full potential alone," Mr Ojulari said, urging stakeholders to move from transactional relationships to long-term strategic partnerships.

His remarks came as he presented NNPC's performance over the past year, highlighting Improvements in crude oil production, gas development, export operations and financial management.

According to him, Nigeria's crude oil production has risen to 1.71 million barrels per day, its highest level in five years, while NNPC Exploration and Production Limited (NEPL) achieved a record output of 365,000 barrels per day.

He added that the company maintained 98 per cent operational recovery across its five crude oil export terminals between April 2025 and May 2026, a significant improvement from the disruptions experienced in previous years.

Gas production also increased to 7.5 billion standard cubic feet per day following the completion of the River Niger crossing on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the commissioning of the ANOH Gas Processing Plant.

The executive said NNPC Ltd. also sustained full compliance with its joint venture cash call obligations throughout 2025 and into June 2026, while continuing efforts to raise Nigeria's crude production to two million barrels per day.

Gas projects attract fresh investment

Ojulari stated that the NNPC Ltd. signed major Gas Sale and Purchase Agreements (GSPAs) over the past year covering 1.29 billion standard cubic feet of gas per day for long-term LNG supply and 750 million standard cubic feet per day for domestic industrial use by DFL FZE and the Dangote Refinery.

A Gas Sale and Purchase Agreement (GSPA) is a long-term contract that sets out the terms under which natural gas is supplied between a producer and a buyer.

According to him, the agreements are expected to unlock more than $20 billion in related investments, with seven additional commercial deals currently being negotiated.

The company also resumed monthly remittances to the Federation Account in July 2025, reinstated monthly business performance reporting and held its first earnings call in November 2025 as part of efforts to strengthen transparency and investor confidence.

The NNPC Ltd. chief said Africa possesses about 17 per cent of the world's proven natural gas reserves, yet continues to attract only a small share of global energy investment because of weak coordination across the sector.

He identified poor collaboration between governments, investors, operators, financiers and technology providers as a major obstacle to developing the continent's energy resources.

The call comes as African countries seek to balance energy security, industrial growth and lower-carbon development while competing for limited global investment. For Nigeria, attracting long-term capital into oil and gas projects remains critical to increasing production, expanding gas utilisation and generating revenue needed to support economic growth.

Now in its 25th edition, NOG Energy Week is one of Africa's largest oil, gas and energy conferences, bringing together policymakers, industry leaders, investors and technology providers to discuss investment opportunities, policy reforms and the future of the continent's energy sector.