The Nigerian National Petroleum Company (NNPC) Limited has tapped Brazilian investors to play its part towards achieving its 2027 and 2030 oil and gas production targets.
This was hinged on President Bola Tinubu’s state visit to Brazil, where he met a series of investors.
Speaking at a Brazil-Nigeria Bilateral Business Forum in Brasilia, the Executive Vice President of the NNPC for Upstream, Mr Udy Ntia, said the company remained firmly aligned with the presidential directive to scale production and investments.
“NNPC Limited is fully aligned with the presidential directives on production and investment targets for 2027 and 2030. Our focus this year is on stabilising production and driving towards our year-end goals, while laying the foundation for energy transition and decarbonisation,” Mr Ntia stated.
He stressed that Nigeria’s abundant untapped gas reserves provide an attractive entry point for global investors looking for cleaner energy opportunities.
“Nigeria is ready for business. We have vast untapped gas resources and a clear strategy to harness them in line with our energy transition agenda,” Mr Ntia added.
The Brasilia forum, themed Partnerships for Development, brought together policymakers, business leaders, and investors from both countries to deepen bilateral ties in food security, energy transition, health innovation, and financing.
Key dignitaries in attendance included Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun; Minister of Industry, Trade and Investment, Jumoke Oduwole; Minister of Aviation and Aerospace Development, Festus Keyamo; and Central Bank Governor, Mr Yemi Cardoso.
Beyond the policy roundtables, NNPC also participated in a high-level Business Roundtable hosted by Citi Brasil in São Paulo.
Led by Mr Ntia, the company engaged senior government officials and top Brazilian industry executives on new trade, investment, and infrastructure financing opportunities.
“The Business Roundtable offered a platform to explore concrete pathways for trade, investment flows, and infrastructure development between Nigeria and Brazil,” Mr Ntia explained, noting that Brazil remains a strategic partner in Nigeria’s economic diversification agenda.
With Brazil’s growing interest in Africa’s energy and trade landscape, NNPC Limited says it will continue to strengthen collaborations that attract capital inflows, advance sustainable energy, and accelerate Nigeria’s economic growth.