The Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, today reaffirmed the company’s transformation agenda during the Petroleum & Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS 2025) in Abuja.
Delivering his keynote address, Ojulari said the company’s new business model is anchored on value creation, competitiveness, and efficiency, aligning with NNPC Ltd’s mandate as a limited liability company since the passage of the Petroleum Industry Act (PIA).
He stressed that resilience in Nigeria’s oil and gas sector goes beyond simply increasing crude production, emphasizing the need for operational excellence, transparent governance, and stronger stakeholder partnerships. According to him, these pillars are essential for ensuring long-term sustainability and positioning Nigeria as a leader in Africa’s energy landscape.
The PEALS 2025 Summit brought together senior government officials, labour leaders, industry captains, and policy experts to deliberate on strengthening Nigeria’s oil and gas industry amid global energy transition pressures.
Discussions centered on how Nigeria can balance fossil fuel reliance with global climate commitments, while ensuring energy security for its growing population. With oil revenues still accounting for the majority of government income, stakeholders agreed that efficiency, transparency, and diversification are no longer optional—they are urgent imperatives.
Ojulari further noted that Nigeria must adapt to global trends such as:
Decarbonization: Reducing gas flaring and cutting emissions in line with the country’s climate goals.
Diversification: Expanding investments in gas and renewable energy to meet rising domestic demand.
Competitiveness: Creating a conducive business environment that attracts private capital and reduces dependency on government funding.
The GCEO’s remarks reflect a broader national conversation on the future of Nigeria’s energy sector. As Africa’s largest oil producer, Nigeria faces a paradox: vast hydrocarbon reserves coupled with underperforming refineries, fuel import dependency, pipeline vandalism, and dwindling foreign investment.
Experts say that unless Nigeria modernizes its energy sector, the country risks being left behind in the global race for sustainable energy. The summit reinforced the idea that labour, industry, and government must work in unison to:
Restore investor confidence.
Prioritize local refining capacity and reduce reliance on imports.
Strengthen accountability in revenue management.
Build capacity for renewable and cleaner energy development.
The message from Abuja is clear: Nigeria’s oil and gas industry is at a crossroads. The global energy transition is reshaping markets, investors are demanding cleaner and more transparent practices, and domestic needs for energy security are growing.
By reaffirming NNPC Ltd’s transformation, Engr. Ojulari signaled a new phase where the company aims not just to extract oil, but to drive value creation, sustainability, and resilience for Nigeria’s economy.
For Nigeria, the way forward lies in turning oil wealth into long-term national wealth—through reforms, technology adoption, renewable investments, and strong partnerships between government, industry, and labour.
If fully realized, this transformation could redefine Nigeria’s position in the global energy order and secure a more prosperous, sustainable future for its people.
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