By Aduragbemi Omiyale
The chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bayo Ojulari, has said the Petroleum Industry Act (PIA) has helped the country attract more investments into the energy sector, adding that there has also been stability in the landscape.
Speaking at the 9th OPEC international seminar held recently in Vienna, Austria, he said the company would continued to partner with other stakeholders to boost the industry.
“With collaborations of our industry players, we will be the catalyst in the transformation of the national oil company to a limited liability company,” he stated, noting that, “Things are looking much, much stable.”
“We’ll also ensure that the new NNPC provides the prudency and the leadership that is of international repute,” Mr Ojulari added, revealing that plans are being made to ensure the listing of the shares of the organisation in three years’ time.
“As I mentioned earlier, we have a roadmap to be listed by 2028,” he disclosed in a video posted on the official X account of the NNPC over the weekend.
He also disclosed promised to “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,” expressing confidence that the new board will harness the nation’s vast resources to build the level of success Nigeria deserves.
“Your support will be very instrumental. These opportunities also present significant investment opportunity for all of us,” noting that the plan is 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.
“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,” he stated.