Bayo Ojulari, the newly appointed Group CEO of the Nigerian National Petroleum Company Limited (NNPC Ltd.), has set an ambitious goal of attracting $30 billion in investments into Nigeria’s energy sector by 2027, with a further target of $60 billion by 2030.
This was revealed during his first meeting with NNPC staff, where he emphasized the importance of leadership in shaping the country’s energy future.
Ojulari’s strategic plan includes boosting crude oil production to over 2 million barrels per day by 2027, expanding refining capacity to 200,000 barrels per day by 2027, and significantly increasing gas production to 10 billion cubic feet per day by 2027.
He also stressed the importance of improving energy access and affordability for all Nigerians.
To achieve these objectives, Ojulari called for a restructuring of NNPC’s operations for greater efficiency, transparency, and value creation. He also pledged to foster an environment where both seasoned professionals and young talent can thrive.
His vision positions NNPC Ltd. as a forward-looking entity focused on Nigeria’s energy transition, with a commitment to creating jobs, industrial growth, and energy security for millions of Nigerians.
News Edited by Araga Peace