“Capital Flows Where Value Is Clear”: Ojulari Positions Nigeria As Top Energy Investment Hub

HOUSTON, TEXAS — The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, has declared that Nigeria remains a prime destination for global energy investment, citing strong fundamentals and a clear value proposition.

Speaking at CERAWeek 2026, one of the world’s foremost energy conferences, Ojulari emphasised that attracting capital depends on clarity of value, noting that Nigeria is well-positioned in that regard.

“Capital goes where value is clear, and Nigeria has that value,” he said during a high-level session held under the theme “Convergence and Competition: Energy, Technology and Geopolitics.”

Addressing global energy executives, policymakers, and industry leaders, Ojulari outlined Nigeria’s strategy as one rooted in realism, strong partnerships, and disciplined execution. He stressed that the country is not torn between current energy demands and future transition goals.

“We are not choosing between today and tomorrow; we are funding the future with the present,” he stated.

During a fireside chat moderated by Dan Pratt, Senior Vice President, Upstream Solutions at S&P Global, the NNPC GCEO highlighted Africa’s continued reliance on hydrocarbons for revenue and foreign exchange, describing sustained upstream production as essential.

He noted that Nigeria’s vast gas reserves—estimated at over 600 trillion cubic feet—position the country to leverage gas not only as a transition fuel but also as a key driver of industrialisation and energy security.

Ojulari further described Nigeria as a dependable energy supplier, attributing this to stable policies, improved infrastructure security, and supportive government reforms. He added that the Petroleum Industry Act (PIA) has strengthened regulatory certainty, while ongoing investments are addressing infrastructure gaps.

According to him, partnerships remain critical to unlocking Nigeria’s energy potential, particularly in deepwater operations. He pointed out that international oil companies such as Shell and Eni bring not just capital but also technical expertise and project execution capabilities.

“Balance is not about equal allocation; it is about optimal sequencing,” he said, explaining that oil continues to generate immediate value, gas supports industrial growth, and energy transition investments are being pursued in a targeted and disciplined manner.

On gas development, Ojulari identified key priorities including commercial pricing, expansion of critical infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) pipeline, and the establishment of bankable contracts to boost investor confidence.

He also highlighted a strategic shift from mere resource ownership to resource monetisation, stressing the need for competitive fiscal frameworks and efficient project delivery to unlock Nigeria’s undeveloped reserves.

CERAWeek 2026, hosted by S&P Global, is taking place from March 23 to 27 in Houston, bringing together over 10,000 global energy stakeholders to examine the intersection of energy, technology, and geopolitics.

— Andy Odeh
Chief Corporate Communications Officer
NNPC Limited, Abuja