By Abiola Olawale
Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has made a case for strategic re-positioning of Nigeria’s energy sector as a prime destination for global investment.
Speaking virtually at the 2025 Society of Petroleum Engineers (SPE) International Conference in Lagos, Ojulari highlighted the need for a “bankable, sustainable, and globally relevant” energy narrative to attract capital in a fiercely competitive global market.
Ojulari urged that Nigeria should participating in the global energy race to actively compete for investment inflows into the sector and the country.
With sustainability and Environmental, Social, and Governance (ESG) criteria increasingly shaping investor decisions, he noted appealed to stakeholders to craft compelling narratives showcasing Nigeria’s rich endowments, capabilities and potentials in the energy sector.
He said: “In a world where global capital pools are vast, the competition for them is fierce. Africa must not just participate; it must compete. Nigeria must make its energy story bankable, sustainable, and globally relevant.”
Ojulari’s remarks are coming at a time when Nigeria, like many African nations, faces rising pressure to balance energy access, environmental sustainability, and economic development, all while finding a way to put ones foot at the door in the complex global energy transitions.
The NNPCL GCEO also underscored their critical role in Nigeria’s energy future, provided they align with emerging technologies such as carbon capture, hydrogen development, and compressed natural gas (CNG). He also pointed to CNG’s growing impact across Africa.
He said: “The future of energy is not linear. It is shaped by the decisions we make today—how we invest, how we innovate, and how we collaborate.
“We must embrace technologies like carbon capture and storage, hydrogen development, artificial intelligence, smart grid systems, and compressed natural gas (CNG) as strategic enablers—not as buzzwords.
“To secure capital, we must not just sell our resources; we must build trust,” he said. “It is time for governments and the private sector to co-create investment environments that are credible, attractive, and future-ready.”
“Our transition must be just. It must reflect the reality that in many parts of Africa, energy poverty is still the dominant challenge.
“Natural gas must be recognized as a transitional fuel for Africa, allowing us to meet climate goals without sacrificing development.”
