NNPC Limited has launched a new business model aimed at boosting value creation, efficiency, and competitiveness in Nigeria’s oil and gas sector.
The announcement was made by the Group CEO, Bashir Bayo Ojulari, during the PENGASSAN Energy and Labour Summit (PEALS 2025) at the Transcorp Hilton, Abuja.
Ojulari said, “With the Petroleum Industry Act (PIA), we now have a framework to transform our investment climate. NNPC Limited is now 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.”
He emphasized that the sector’s future relies on environmental, social, and governance practices, adding, “Today, oil and gas companies are judged not only by what they produce but how they produce it. NNPC Limited has initiated an Energy Transition Roadmap—reducing our carbon footprint, investing in gas as a transition fuel, and improving transparency.”
Ojulari called for collaboration among government, investors, labour unions, and industry stakeholders to unlock stranded assets, boost production, and ensure sustainable growth.
PENGASSAN President, Comrade Festus Osifo, commended the government for supporting reforms, noting that “the long-term sustainability of Nigeria’s oil and gas industry hinges on environmental stewardship and robust governance.”
The summit brought together government officials, industry leaders, and labour representatives to discuss strategies for a resilient oil and gas sector amid global energy transition pressures.
