Clear Value Drives Investment as NNPC GCEO Bashir Bayo Ojulari Highlights Nigeria’s Energy Strength at CERAWeek 2026

The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, on Monday delivered a direct and pragmatic outlook on Nigeria and Africa’s energy future at CERAWeek 2026, affirming that the country’s fundamentals remain strong, its value proposition evident, and its priority firmly on execution.

Speaking on the opening day of the global energy gathering themed “Convergence and Competition: Energy, Technology and Geopolitics,” Ojulari addressed an international audience of industry leaders, including top executives, energy secretaries, and government officials, noting that Nigeria’s approach is anchored on realism, collaboration, and disciplined implementation.
“Capital goes where value is clear, and Nigeria has that value,” he said, setting the tone for a leadership discussion that focused on balancing immediate energy demands with long-term transition goals. He emphasized NNPC’s guiding philosophy, stating, “We are not choosing between today and tomorrow; we are funding the future with the present.”
During a fireside chat moderated by Dan Pratt of S&P Global, Ojulari explained that Africa continues to rely heavily on hydrocarbons for revenue and foreign exchange, making sustained upstream production essential. He added that with over 600 trillion cubic feet of proven reserves, gas is not just a transition fuel but a critical driver for industrialisation and energy security across the continent.
He further stated that Nigeria remains a dependable destination for global energy investment, citing stable policies, improved infrastructure security, strategic partnerships, and supportive government orientation. According to him, presidential backing has granted NNPC the autonomy to pursue lasting commercial solutions.
“Balance is not about equal allocation; it is about optimal sequencing,” Ojulari noted, describing a strategy where oil sustains current value, gas drives industrial growth, and transition investments are pursued in a targeted and disciplined manner. He also underscored the importance of partnerships in mitigating risks in deepwater projects, highlighting contributions from companies such as Shell and Eni, particularly in assets like OPL 245 and other offshore developments.
Ojulari pointed out that the Petroleum Industry Act has strengthened regulatory certainty, while infrastructure gaps are being addressed through focused investments and enhanced security frameworks. “When the fundamentals are right, partnerships scale naturally,” he added.
On Nigeria’s gas potential, he stressed that the key differentiator now is execution discipline, with emphasis on commercial pricing, critical infrastructure such as the AKK (Ajaokuta-Kaduna-Kano) pipeline, and bankable contracts that ensure investor confidence. He described the balance between domestic gas supply and LNG exports as a strategic process of portfolio optimisation to maximise both national and commercial value.
The NNPC boss also highlighted a shift from resource ownership to resource monetisation, noting that unlocking Nigeria’s vast undeveloped reserves requires strong partnerships, competitive fiscal policies, and strict commercial discipline. He reiterated that deepwater projects remain a priority due to their scale, reduced exposure to onshore risks, and attractiveness to global investors.
CERAWeek 2026, hosted by S&P Global, is taking place from March 23 to 27 in Houston, bringing together more than 10,000 energy leaders, executives, and policymakers to examine the intersection of energy, technology, and geopolitics.
Andy Odeh
Chief Corporate Communications Officer
NNPC Limited
Abuja