Odimmegwa Johnpeter/Abuja
The Nigerian National Petroleum Company (NNPC) Limited has reaffirmed Nigeria’s commitment to energy self-sufficiency and a balanced energy mix, positioning gas as a central pillar of its long-term strategy.
This position was outlined by the company’s Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, during a panel session at the CERAWeek by S&P Global in Houston, United States.
Oluwaniyi spoke at the session themed “African Energy Sovereignty: The ‘All-of-the-Above’ Strategy,” where he highlighted Nigeria’s approach to achieving energy independence through resource control and diversification of energy sources.
The panel, moderated by Daniel Evans, also featured Bambo Ibidapo-Obe of Oando Energy Resources and Alcides Andrade.
Oluwaniyi noted that Nigeria holds proven gas reserves of about 210 trillion cubic feet (tcf), comprising 101 tcf of associated gas and 109 tcf of non-associated gas. He described the country as a “gas-rich nation with some oil reserves,” underscoring a strategic shift in focus from crude oil to gas development.
According to him, Nigeria supports a just and equitable energy transition, with natural gas serving as a critical transition fuel that will remain relevant for decades, even as global energy systems evolve.
He added that Nigeria’s resource base and strategic outlook position it as an attractive destination for large-scale investments in the energy sector.
The NNPC executive stressed the importance of developing bankable projects with clear value propositions, realistic financial projections, and effective risk mitigation frameworks to attract investors.
Addressing concerns around infrastructure security, he said issues such as pipeline vandalism are being addressed through a combination of measures, including strengthened community engagement and improved surveillance.
Oluwaniyi identified investment in gas infrastructure and development as a priority area across the energy value chain, noting that sustained focus in this sector would be key to unlocking Nigeria’s full energy potential and driving economic growth.
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