The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari has reaffirmed the company’s strategic direction towards boosting value creation, efficiency, and competitiveness in Nigeria’s oil and gas sector.
Ojulari made this known while delivering a keynote address titled: “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investors and Incremental Production” at the Petroleum & Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS 2025), held in Abuja.
Ojulari highlighted the company’s renewed commitment to operational excellence and investor confidence, guided by the provisions of the Petroleum Industry Act (PIA) and global market realities.
He noted that resilience in Nigeria’s oil and gas sector must translate into concrete reforms across operations, governance, and partnerships. With the Petroleum Industry Act (PIA), we now have a framework to transform our investment climate.
NNPC Limited is operating under a new business model focused on value creation, competitiveness, and efficiency. This includes restructuring joint ventures, monetizing assets, and investing in critical infrastructure across the value chain,” Ojulari stated.
The GCEO stressed that beyond production volumes, the future of Nigeria’s oil and gas industry lies in strong environmental, social, and governance (ESG) practices.
He explained that global investors and host communities now judge energy companies not only by what they produce but also by how responsibly they produce it.
“Environmental stewardship, social responsibility, and sound governance are now critical metrics for accessing capital, winning community support, and sustaining growth. NNPC Limited has initiated an Energy Transition Roadmap—reducing our carbon footprint, investing in gas as a transition fuel, and improving transparency,” he said.
Stakeholder Alignment
Ojulari further called for stakeholder alignment to unlock stranded assets and boost incremental production through smarter, coordinated actions across the oil and gas value chain.
He emphasized that collaboration among PENGASSAN, labour unions, investors, government, and industry players was vital to assuring stability, de-risking the environment, and creating conditions for sustainable growth.
“Every additional barrel and gas molecule contributes directly to national prosperity and energy security,” he added.
PENGASSAN President, Comrade Festus Osifo, stressed that the long-term sustainability of Nigeria’s oil and gas industry depends on a collective commitment to environmental stewardship and robust corporate governance.
He also commended President Bola Tinubu for laying a strong foundation for increased production and investment through recent executive orders. These orders, he said, aim to shorten contracting cycles, support non-associated gas development, extend the duration of third-party contracts, and introduce performance-based tax incentives.
The PEALS Summit brought together senior government officials, industry leaders, labour representatives, and stakeholders to deliberate on strategies to strengthen Nigeria’s oil and gas sector amid the global push for energy transition.