The Nigerian National Petroleum Company Limited (NNPC Ltd) has called on global investors to explore Nigeria’s oil and gas sector, which it describes as a flourishing investment destination due to significant regulatory reforms and investment-friendly policies under President Bola Ahmed Tinubu’s administration.
Speaking at the 2025 CERAWeek by S&P Global in Houston, Texas, NNPC Ltd’s Executive Vice President, Upstream, Mr. Udy Ntia, highlighted the transformative impact of recent policy changes aimed at boosting investor confidence. The session, themed “Spotlight: Attracting Investment for Oil and Gas,” attracted high-profile industry stakeholders from around the world.
Ntia emphasized that Nigeria’s strategic positioning, particularly in its oil and gas sector, aligns with rising global energy demand driven by geopolitical tensions and evolving energy policies from major players like the United States.
“Despite global energy security challenges, especially in Europe, we see vast opportunities in Nigeria. Our assets are strategically positioned to benefit from the favorable price environment of the last two to three years. As a result, we anticipate significant investment inflows into the sector,” Ntia said.
He pointed to Nigeria’s efforts to boost refining capacity and reduce reliance on imports, alongside plans to harness its massive gas reserves of about 207 trillion cubic feet (TCF) for industrialization and economic growth.
“Gas will play a crucial role in Nigeria’s energy future. We are expanding our gas infrastructure with partners like Shell, ENI, and Total. Our LNG Train 7 project is progressing well, and we are investing in domestic pipeline networks to meet local energy needs,” Ntia explained.
He further highlighted that the Petroleum Industry Act of 2021 and a series of Executive Orders signed by President Tinubu in 2023 have significantly eased the regulatory landscape, providing incentives for cost recovery, royalty payments, and profit-sharing frameworks. According to him, these reforms contributed to foreign investment inflows of approximately $16 billion to $17 billion in 2024.
Encouraging investors from China, India, and other countries, Ntia noted that Nigeria’s vast crude oil reserves exceeding 37 billion barrels and flexible investment models, including joint ventures and production-sharing contracts, make the country an attractive investment destination.
“Nigeria offers political stability, improved security, and a favorable regulatory framework. We welcome investors from around the world to partner with us in unlocking the full potential of our oil and gas industry,” Ntia concluded.
The session also featured contributions from global industry leaders such as Pinxian Zhang, Deputy Director-General, Planning at China National Petroleum Corporation (CNPC); Rajarshi Gupta, Managing Director of ONGC Videsh Ltd (OVL); and Masoud Mahmoud, Chairman of Libya’s National Oil Corporation.
CERAWeek, one of the largest energy conferences globally, continues to draw top energy experts and influential government and corporate leaders to Houston annually.
