Oil & Energy
NNPC Eyes $60bn Investment To Boost Gas, Refining Capacity … Targets 500,000bpd By 2030
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced plans to attract a minimum of $60 billion in new investments to boost gas development and expand the nation’s refining capacity by an additional 500,000 barrels per day by the year 2030.
Group Chief Executive Officer, NNPCL, Bashir Bayo Ojulari, stated this while receiving the leadership of the Nigeria Extractive Industries Transparency Initiative (NEITI) on a courtesy visit, in Abuja.
Ojulari explained that the company was mandated to raise crude oil production to three million barrels per day by 2030, grow gas output to 20 billion cubic feet per day, and add 500,000 barrels per day of refining capacity.
According to him, the NNPC is central to the overall gas development for Nigeria, with the Ajaokuta-Kaduna-Kano (AKK) pipeline as the major game changer that will impact the economy significantly.
Ojulari explained that the NNPC gas and new business team is already engaging customers and off-takers to put in place the necessary structures that would drive growth beyond pipeline infrastructure.
According to him, the focus is not only on the Ajaokuta-Kaduna-Kano gas pipeline, but also on enabling businesses to thrive through power generation, industrial parks, and compressed natural gas (CNG) expansion projects that would spring up from the initiative.
He added that the company is also working on further expansion of the Escravos–Lagos Pipeline System (ELPS), which currently supplies the western corridor and supports industrialization around Lekki and other parts of the Southwest adding that plans are underway to extend the West African Gas Pipeline (WAGP) further north, stretching across Africa to Morocco.
Highlighting future opportunities, Ojulari said the company is pursuing strategic partnerships to accelerate growth in the sector.
“In terms of our own aspirations, you saw the mandate we got from the president around when we were appointed, around growing oil production to three million barrels per day by 2030, growing gas production to a minimum of 20 billion cubic feet per day by again, 2020.
“Our aspiration is to pitch that target on the gas. You’ve also noticed the refinery capacity where we are required to have additional refining capacity of 500,000 barrels per day by 2030. And to achieve that, we are required to bring in additional investment of minimum of $60 billion”, he explained.
According to him, NNPCL was also considering the expansion of the West African Gas Pipeline to Morocco, alongside new industrial parks, gas-to-power schemes and compressed natural gas projects to maximise value.
He explained that the company will continue with its reforms to ensure development in the energy sector despite resistance, stressing that transparency and accountability remain at the heart of its operations.
He said the company had already embarked on internal reforms to improve reporting standards and strengthen compliance mechanisms.
“You have my commitment to increase and deepen transparency and accountability. In terms of our full compliance with the NEITI principles and the EITI global standards, you have my full commitment. We will provide all the data required for the 2024 and 2025 audits in the most efficient manner.
“We are now restructuring and resourcing the compliance department to be able to do things more sustainably. I want to hold him personally accountable for compliance in this respect.
“We know that major transformations cannot be achieved without resistance. We are determined to pursue this transformation. There will be bumpy rides, but we are not deterred because this journey is about Nigeria”, he added.
In his remarks, the Executive Secretary of NEITI, Orji Ogbonnaya Orji, urged the leadership of NNPCL to restore and sustain critical disclosures that earned the company global recognition as a reform leader.
As Nigeria’s flagship national oil company, Orji said NNPC must stand as a model of transparency, accountability, efficiency, and civic engagement saying “individuals may come and go, but NNPC Limited must endure as a global energy giant”.
Orji noted that recent reforms and investments had increased indigenous ownership of Nigeria’s oil and gas sector, stressing that transparency was vital to sustain such gains.
Noting that NNPC had previously set the pace by publishing audited financial statements, monthly operations and production reports, annual statistical bulletins, and FAAC statements, Orji warned that some of these disclosures had become irregular, delayed, or discontinued, creating gaps in public data.
“We respectfully urge NNPC Limited to restore and sustain all discontinued disclosures on its platforms”, he said.
Continue Reading
Oil & Energy
Electricity Consumers Laud Aba Power for Exceeding 2025 Meter Rollout Target
Nigeria’s newest Electricity Distribution Company (DisCo), Aba Power, has gained consumers’ commendation for the provision of more smart meters than the other 11 Discos in the country combined in 2025.
The Electricity Consumers Association of Nigeria (ECAN), Southeastern Zone, gave the commendation in a statement signed by it’s Chairman, Engr.Joe Ubani, and Secretary, Comrade Chris Okpara, and issued at the end of its first 2026 Executive Committee meeting, held in Abakaliki, the Ebonyi State capital, at the weekend.
The statement revealed that all 12 DisCos in Nigeria provided 175,302 meters under the Meter Asset Provider (MAP) scheme and 44,104 prepaid meters under the vendor-financed framework as of the third quarter of 2025.
It said “Aba Power alone gave end-users over 100,000 smart meters by the end of last September.This means that Aba Power exceeded its 2025 target of giving its customers 100,000 smart meters by 2025, which many analysts thought was a stretch goal, meaning something that was initially thought to be impossible.
“More importantly, the data shows that Aba Power, despite being Nigeria’s youngest DisCo and the smallest in terms of population and geographical spread as it covers only nine of the 17 local government areas (LGAs) in Abia State, provided more prepaid meters than the other 11 DisCos combined”.
Citing figures sent monthly to NERC by the Head of the metering team at Aba Power, Engr. Alfred Atega, ECAN noted that the other 11 DisCos were carved out of the defunct Power Holding Company of Nigeria (PHCN) and got privatized in November 2013, stating though that the Nigerian government retains 40% shares in each.
The association disclosed that Aba Power was able to provide 122, 464 prepaid meters by the end of last year through vendor-finance arrangements with four Chinese and Nigerian metering firms adding that it supplied 116,883 single-phase meters and 5,581 three-phase meters.
Quoting the Aba Power senior brand and communication manager, Edise Ekong, ECAN explained that this utility metered all 122,464 customers from 27 feeders in and around Aba, Abia State’s economic nerve-centre.
According to the statement, Ekong said “We have actually since this year increased the number of metered customers to 133,000”, stated Ekong, also an engineer, according to ECAN.
“Work is progressing on three feeders, namely, the Omoba Feeder, the Geometric Feeder, and the Polymer Feeder as they have system issues.
“The customers on these feeders will be metered once repair and rehabilitation work on them is concluded”.
Oil & Energy
NUPRC Unveils Three-pillar Transformative Vision, Pledges Efficiency, Partnership
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled Its vision for the country’s upstream sector.
This transformative vision rests on three pillars of Production Optimization and Revenue Expansion; Regulatory Predictability and Speed; and Safe, Governed and Sustainable Operations.
The Chief Executive, NUPRC, Mrs Oritsemeyiwa Eyesan, who disclosed this at a stakeholders meeting with members of the Oil Producers Trade Section (OPTS), the Independent Petroleum Producers Group (IPPG), emerging players and other major stakeholders in the oil and gas industry, in Lagos, recently, said this aligns with President Bola Ahmed Tinubu’s renewed hope agenda and his plan to hit a production target of 2mbpd by 2027 and 3mbpd by 2030.
Eyesan plans on increasing production and revenue expansion through the recovery of shut-in volumes with economic value, arresting decline, reducing losses, and accelerating time-to-first oil—without increasing burdens or transaction cost.
This, she said, had already begun by recently “turning on the light” in a long shut-in asset.
Eyesan explained that regulatory predictability and speed can be achieved by running regulation like a service, enforcing rules transparently and making quick time-bound decisions.
The new NUPRC boss plans to strengthen governance, process safety, host community outcomes, and encourage decarbonisation through safe, governed and sustainable operations.
“Going forward, the Commission will be measured on the following key success metrics -Faster, predictable regulatory approvals, higher, more secure and sustainable production, credible licensing and disciplined acreage performance, world-class Health, Safety and Environment (HSE) and process safety outcomes, trusted measurement, transparency, governance and data integrity,” she said.
Eyesan promised that under her leadership, the NUPRC would enhance regulatory efficiency and predictability by publishing Service Level Agreements (SLAs) for all major approvals adding that the timeline to production would be reduced through proactive discussions regarding all necessary approvals, implementation of stage-gate processes, and mutual agreement on timelines with the commission.
She said “Stakeholders are encouraged to submit their projects for consideration. For matured opportunities, please submit your request latest end of Q1, 2026. This would provide a simplified and holistic framework that creates obligations for both operators and the Commission.
“The Commission will launch a digital workflow for permitting, reporting and data submissions. NUPRC will work with the industry to identify capacity gaps and develop tiered intervention in the most critical areas with immediate impact on regulatory efficiency while we harmonize our own internal processes to eliminate conflicting regulatory actions and reduce friction”.
She revealed that the NUPRC’s internal transformation programme through a project Management office is in flight saying “I will provide more details on this in the coming days”.
The NUPRC boss also convened a CCE–Operators Leadership Forum for monthly engagement with participants including all operators of NNPC, OPTS, IPPG, and emerging players adding that it would be focused on approval timelines, production restoration, infrastructure integrity, and gas monetisation and development.
“This is expected to enable the NUPRC to identify systemic bottlenecks and provide greater predictability”, she said .
Eyesan also stressed the need to improve hydrocarbon accounting and measurement by tracking every barrel produced and promptly addressing discrepancies or losses.
On host community, the NUPRC boss encouraged all operators to liaise with the commission “as we plan first engagement with host community leaders to reaffirm commitment to HCDT (Host Community Development Trust) implementation”.
She also said one of her key goals is to ensure 100% to the Petroleum Industry Act within 12 months. This, she said, will be monitored with a dedicated team situated in her office.
“The commission going forward will issue quarterly progress reports. Let therefore bring all high impact shut in fields for approval. “On the Commission’s part, a 90-day program to fast track approvals for near-ready FDPs, well interventions, rig mobilisation and other quick-win opportunities have commenced,” the CCE stated.
Oil & Energy
Collective National Prosperity Is Our Driving Force – NNPCL
The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Engr. Bashir Bayo Ojulari, has reaffirmed the company’s national mission, saying collective national prosperity shall be the driving force of the energy firm.
In his New Year message to staff, tagged ‘We Achieved. We Drive The Future’, Ojulari set the tone for 2026 priorities reflecting on strong delivery despite global energy volatility.
According to him, in 2025, the country recorded significant landmarks in oil exploration and production.
In his words, “Exploration and production achieved a record 355 thousand barrels of oil per day — the highest level since 1989,”
“We advanced production through Madu First Oil, Soku Pipeline optimisation, and the Akpo West Start-up, while commissioning Gbaran Nodal Compression Train.
“We reached major infrastructure milestones with the commissioning of the ANOH-OB3 pipeline and the successful AKK River Niger crossing.
“NNPC Retail expanded its footprint into the West African sub-region with our lubricant brand, Oleum.
“We successfully hosted the first-ever NNPC Group Earnings Call, announcing our audited 2024 financial results.
“We strengthened employee well-being through a much-improved compensation package. We welcomed 1,000 Tigers into our organisation to intentionally build the next generation of NNPC leaders.”
Explaining the success method of the company, the GCEO listed board and staff members as the major forces.
He said “Our Board showed visible support for execution excellence by approving the new Delegation of Authority and Delegation of Financial Authority frameworks to improve efficiency and empower leadership across the business.
“Behind each of these milestones are our people—your expertise, your judgement, and your belief in the potential of our organisation. These accomplishments belong to all of us collectively, and each of us should proudly identify with these great strides. Across every directorate, asset, and office, your collaboration, ownership, and commitment remain the true foundation of our success,” he said.
Disclosing the corporation’s future plans, Ojulari noted that although the previous initiative, the “’Fit-For-Future’ transformation imperatives established in the second half of 2025, had ensured a stronger foundation and a clearer focus for its operations in 2026, the new year would be anchored on four strategic attributes—Execution Excellence, Profitable Growth, Partner of Choice, and Enterprise-First Mindset.
On execution excellence, Ojulari promised to “deliver results with discipline and speed by applying a more effective cadence — setting clear rhythms for planning, execution, and review. By prioritising critical tasks and systematically driving execution, we will identify risks early, enable data-backed decisions, ensure clear accountability for outcomes, and achieve consistent operational excellence.”
Ojulari assured profitable growth by embracing robust partnerships adding that NNPC Limited is committed to “pursuing intentional and value-driven growth. By focusing on the right projects and investments, strengthening efficiency and applying commercial rigour, we will grow profitably and responsibly, delivering sustainable returns for NNPC Limited and long-term value for our ultimate stakeholders — Nigerians”.
“We seek to earn trust as a dependable, transparent, and performance-driven partner. By keeping our word, working transparently, and acting with integrity, we will deepen relationships with joint venture partners, investors, contractors, and host communities, unlocking greater value and accelerating delivery. Our partnerships will reflect who we are and what we stand for.”
On the new strategy of developing an enterprise-first mindset among staff and partners, Ojulari said NNPC Limited must remain focused on its goals.
“We must continue to think and function as one enterprise — deepening professionalism, functional excellence, and talent development. We must entrench collaboration above silos, promote shared success over individual wins, and embrace a mindset that prioritises long-term impact over short-term gains.
“This way, we ensure that we move faster, execute better, and achieve more together.
“As we embrace 2026, let us do so with a renewed sense of purpose, confidence in our collective capability, and pride in the difference we are making. I am excited and believe you equally are about the journey and opportunities ahead of us”, he stated.
By: Lady Godknows Ogbulu
-
News8 hours agoAkande Proffers solution to insecurity in Nigeria
-
News8 hours agoSERAP Sues Govs, FCT Minister Over Security Vote Spending
-
News8 hours agoNDLEA Nabs Wanted Drug Kingpin 12 Years After Killing Three Officers
-
Editorial5 hours agoBeyond Accessing Bonny By Road
-
Sports5 hours agoTinubu Lauds Super Eagles’ after AFCON bronze triumph
-
Sports4 hours agoAFCON: Lookman gives Nigeria third place
-
Niger Delta7 hours agoINC Polls: Ogoriba Pledges To Continuously Stand For N’Delta Rights … Picks Presidential Form
-
Sports5 hours agoFulham Manager Eager To Receive Iwobi, Others
