The Nigerian National Petroleum Company Limited (NNPC Ltd) has urged international investors to capitalize on Nigeria’s thriving oil and gas sector, citing significant regulatory reforms and pro-business policies introduced under President Bola Ahmed Tinubu’s administration.
Speaking at the 2025 CERAWeek by S&P Global in Houston, Texas, Udy Ntia, Executive Vice President (Upstream) of NNPC Ltd, highlighted how Nigeria’s energy sector is primed for substantial investment due to a stable regulatory framework, expanding infrastructure, and a favorable global market.
“Nigeria is strategically positioned to attract significant investment, particularly in the refining and gas sub-sectors,” Ntia stated during a session titled “Spotlight: Attracting Investment for Oil and Gas.” He noted that recent geopolitical shifts and global energy security concerns have heightened interest in Nigeria’s oil and gas industry.
Investment Opportunities in Nigeria’s Energy Sector
Ntia outlined key areas for foreign investment, including:
✅ Refining Capacity Expansion – Reducing reliance on fuel imports through increased domestic refining.
✅ Gas Sector Development – Leveraging 207 trillion cubic feet (TCF) of gas reserves for industrialization and economic growth.
✅ Infrastructure Growth – Partnerships with Shell, ENI, and Total to expand gas infrastructure and enhance liquefied natural gas (LNG) production, including the progress of the LNG Train 7 project.
Additionally, Nigeria’s Petroleum Industry Act (PIA) 2021 and President Tinubu’s 2023 Executive Orders have introduced incentives for cost recovery, royalty payments, and profit-sharing models, significantly enhancing the investment climate. These reforms contributed to $16 billion – $17 billion in foreign investment inflows in 2024.
Nigeria’s Competitive Edge in the Energy Market
With over 37 billion barrels of crude oil reserves and flexible investment structures such as joint ventures and production-sharing contracts, Nigeria remains an attractive destination for investors, particularly from China and India.
“Nigeria offers a stable democracy, improved security, and a business-friendly regulatory framework,” Ntia emphasized, calling on global investors to explore opportunities in the country’s oil and gas industry.
The session featured high-profile industry leaders, including Pinxian Zhang (China National Petroleum Corporation), Rajarshi Gupta (ONGC Videsh Ltd), and Masoud Mahmoud (Libya’s National Oil Corporation).
CERAWeek, one of the world’s premier energy conferences, convenes top corporate and government leaders annually in Houston to discuss the future of global energy.
With ongoing reforms and vast untapped resources, Nigeria stands ready to become a key global energy hub for investors seeking long-term growth.
