Bayo Ojulari, Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), has called for a coordinated strategy to position Nigeria’s energy sector as a prime destination for global investors.
Speaking virtually at the 2025 Society of Petroleum Engineers (SPE) International Conference in Lagos, Ojulari emphasized the need for a “bankable case” to compete for capital in a world prioritizing sustainability and ESG (Environmental, Social, and Governance) standards.
“Nigeria must make its energy story bankable, sustainable, and globally relevant,” Ojulari said, noting fierce competition for vast global capital pools. He rejected claims that oil and gas are fading industries, asserting their critical role in a sustainable energy future when paired with innovative technologies like carbon capture, hydrogen, AI, smart grids, and compressed natural gas (CNG). He highlighted CNG’s growing adoption across Africa as a cleaner alternative to traditional biomass, supporting a just energy transition.
Ojulari stressed that de-risking Nigeria’s energy sector is essential to attract long-term investment. He advocated for stronger governance, robust regulatory frameworks, contract integrity, and transparent dispute resolution systems. “To secure capital, we must build trust,” he said, urging collaboration between governments and the private sector to create credible, future-ready investment environments.
He also championed financial tools like blended finance and climate-resilient funds to draw impact-driven investors focused on stability.
Ojulari’s remarks come as Nigeria balances energy access, environmental goals, and economic growth amid global energy transitions. “The future of energy is shaped by today’s decisions—how we invest, innovate, and collaborate,” he concluded, positioning Nigeria to lead in Africa’s energy landscape.
