…set to issue first performance report in Q3 2025.
…gears up to launch the NNPCL IPO soon.
…says we have shifted focus towards incremental growth beyond the barrels.
UGO AMADI
As part of effort in changing the narrative and global perspective of the nations’ energy corporation, the Nigerian National Petroleum Company Limited, NNPCL, GCEO, Engr. Bashir Bayo Ojulari has revealed the company’s bold plan on energy transition and corporate governance strategy geared towards incremental growth across the company’s operations.
The GCEO made this known while delivering his keynote address at the ongoing NOG Energy Week 2025 in Abuja.
According to him , the board’s commitment to consolidate on the NNPCL’s foundation structure to boost the company’s operations across the energy value chain.
On Energy Transition , Ojulari said the NNPCL has set an ambitious target, captured in its 2028 Strategic Roadmap, underscoring the need to produce more oil and gas.
According to him, “NNPCL’s target is to produce the oil to generate funds needed to develop the gas, which is now Nigeria’s transition fuel.”
However, he noted that NNPCL is adopting new technologies to reduce its emissions in the oil and gas industry.
On renewables, he stated NNPCL has integrated solar energy and biofuels into its energy mix.
While speaking on energy security, he raised serious concerns over Africa’s energy poverty challenges, citing a United Nations report showing the statistics of women and children who died from environmental pollution due to a lack of access to clean cooking solutions.
He said, “NNPCL will collaborate with the government to provide clean cooking gas across Nigeria.”
On Corporate Governance, he said In his words, the NNPCL GCEO attributed the Petroleum Industry Act, PIA, as a key enabler of the company’s transformation, as it is operating now as a limited liability company.
“This gives us access to market opportunities as we are now operating as a world-class private entity.
He revealed that the NNPCL is focused on incremental growth beyond the barrels.
“Investors coming to NNPCL to invest should look beyond the barrels,” he advised, stating that NNPCL has shifted its focus towards incremental growth.
Speaking further, he said the NNPCL 2028 Roadmap has also set the pathway on how the company should operate and the necessary actions needed to strengthen the company’s deliverables.
“At NNPCL, we are starting a major cultural transformation in terms of accountability, performance, teamwork, and providing support to our team members.
“We have great talents at NNPCL. The talents are there, but the question is how we harness those talents.”
On accountability, he said that NNPCL has started publishing its financial reports.
“By the end of Q3 2025, we will issue our first performance report like any other international energy company.
He added that the company is also working with a team of experts to issue the NNPCL IPO soon.
