Bayo Ojulari, the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, says the company plans to be listed on the stock exchange by 2028.
Ojulari spoke at the 9th OPEC international seminar held
recently in Vienna, Austria.
In a video posted on the NNPC’s official X account on
Friday, he said the national oil company will play a leading role in its
transformation into a limited liability entity, partnering with key industry
stakeholders.
“With collaborations of our industry players, we will be the
catalyst in the transformation of the national oil company to a limited
liability company,” the NNPC CEO said.
“And as I mentioned earlier, we have a roadmap to be listed
by 2028.”
Ojulari said the NNPC has made “considerable progress” in
creating a stable and secure business environment in Nigeria.
“That has been quite an undertaking, but things are looking
much, much stable. And we’ll also ensure that the new NNPC provides the
prudency and the leadership that is of international repute,” he added.
“I will continue to learn from all of you as we reposition
NNPC to be one of the global national companies that is to be reckoned with.”
Ojulari credited the Petroleum Industry Act (PIA) with
setting the foundation for the transformation, stating that it has brought
stability to Nigeria’s energy sector, solidified existing partnerships, and
attracted new investments.
Commenting on the newly appointed NNPC board of directors,
he expressed optimism that the new leadership will harness the nation’s vast
resources to build the level of success Nigeria deserves.
‘WE’RE EMBARKING ON AGGRESSIVE INFRASTRUCTURE BUILDING’
The NNPC chief said Nigeria is taking bold steps to tackle
energy security and infrastructure challenges through aggressive investments in
refineries, pipelines, and gas-based industries.
He said there has been great progress in terms of enhancing
and resolving the significant shortage of energy, the energy deficiency, “the
whole energy security conversation”.
“Nigeria and other sub-African regions are embarking on an
aggressive in- country infrastructure building, refineries, pipeline
connectings, as well as gas-based industries to ensure that we solve our energy
deficiency problem,” Ojulari said.
“Your support will be very instrumental. These opportunities
also present significant investment opportunity for all of us.”
The GCEO said Nigeria’s oil and gas industry policies would
“dramatically” improve investment and increase oil production.
He said the NNPC aims to increase the country’s oil
production capacity to a minimum of 3 million barrels per day (bpd) by 2030.
“We have the ambition to build the capacity for gas
production to at least 12 BCF per day,” he added.
“That capacity we will pursue, and of course, in
collaboration and leveraging all the relationships in OPEC as we progress but
the optionality to unlock these resources is what we are determined to do. We
have a clear roadmap to achieve that, and we will continue to share that as we
go along.”
Ojulari called on global investors and industry leaders to
engage with the new NNPC, and the new Nigeria, noting that the country will
demonstrate its readiness for business through tangible actions rather than
mere promises.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com