Lagos, Aug. 4, 2025 – Bayo Ojulari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), has called for concerted efforts to de-risk Nigeria’s energy environment to attract long-term investments.
Ojulari made the call in Lagos on Monday on while addressing participants virtually during the 2025 Society of Petroleum Engineers (SPE) International Conference.
He said Nigeria could only attract more capital into the energy sector by improving governance, strengthening regulatory frameworks, honoring contracts, and building transparent dispute resolution systems.
The NNPCL boss advised that instead of selling the country’s assets to raise capital, Nigeria must build trust and co-create investment environments that are credible, attractive and future-ready.
“To secure capital, we must not just sell our resources, we must build trust. It is time for governments and the private sector to co-create investment environments that are credible, attractive, and future-ready,” he said.
Ojulari said Nigeria could also leverage financial instruments like blended finance and climate-resilient funds which could attract investors with long-term perspectives.
He said that Africa’s energy transition must be negotiated, not imposed and must be just to reflect the reality that energy poverty is still the dominant challenge in many parts of Africa.
“With millions across the continent still lacking access to reliable electricity, the emphasis must remain on energy justice and inclusion.
“Natural gas must be recognized as a transitional fuel for Africa, allowing us to meet climate goals without sacrificing development,” he said.
Ojulari urged the African governments to invest in people, especially the youth, as no energy transition could succeed without the required skills.
He stressed the importance of empowering young Africans through STEM education, green skills training, and entrepreneurship.
“We must help our young people see the energy sector not just as a place of extraction, but as a space of invention and inclusion.
“Let us equip them with the tools to not just understand the energy future, but to build it,” he said.
Ojulari called on both government and private sector actors to create platforms for youth leadership and innovation, ensuring that the next generation is prepared to take ownership of Africa’s energy destiny.
The NNPC boss also called for increased investments in modern cooking technologies and decarbonisation of heavy industries as hydrocarbons could be responsibly leveraged to build the infrastructure and education systems that Africa needs.
“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,” he said.
