The Nigerian National Petroleum Company Ltd has opened discussions with the African Finance Corporation on the financing of critical energy projects in Nigeria.
The energy projects financing is part of the discussions that were made during a meeting between the Group Chief Executive Officer of the Nigerian National Petroleum Company Bayo Ojulari and an AFC delegation comprising the Deputy Director and Head, Financial Advisory, Mr Fola Fagbule; Vice President, Financial Advisory, Omonye Ukpoma-Ajitena,
The meeting was also attended by the AFC Vice President, Capital Mobilisation and Partnerships, Temitope Mudabai and Bolawale Omotoye, also of the Corporation’s Financial Advisory and Adedapo Segun, Chief Financial Officer, NNPC Limited.
Discussions centered on exploring avenues for financing and collaboration on critical projects aimed at enhancing Nigeria’s energy security and driving economic growth.
Ojulari had upon resumption last month unveiled an ambitious five-year growth and development agenda that will see it attracting $30bn investments by 2027 and $60bn by 2030.
The GCEO who assumed leadership of the NNPCL on April 4, disclosed this to members of staff during a town hall meeting held at the NNPC Towers in Abuja.
Ojulari had declared that the NNPC Ltd under his stewardship aims to raise crude oil production to over two million barrels per day which it hopes to sustain through 2027 and attain three million by 2030; expand refining output to 200kbpd by 2027, and 500kbpd by 2030; grow gas production to 10bcf per day by 2027, and 12bcf by 2030 and deepen energy access and affordability for all Nigerians.
“We stand at the gateway of a new era—one that demands courage, professionalism, and a relentless drive for excellence.
“The task before us is great, yet the opportunity to redefine Nigeria’s energy future is even greater. Now is the time to turn our transformation promise into performance.
“To achieve these targets, the company will be focusing on reconfiguring its business structure for agility and value creation; conducting independent value assessments to inform data-driven decisions and enforcing a robust performance management framework. “The company will build transparent, value-aligned partnerships with all stakeholders, and most critically, taking control of its narrative,” he said.
While explaining the criticality of pursuing the company’s bold ambitions, the Group CEO said the targets are not just metrics, but indicators of hope, jobs, industrial growth, and energy security for millions of Nigerians.
