The Nigerian National Petroleum Company Limited (NNPCL) has urged global investors to explore Nigeria’s oil and gas sector, describing the country as an investment haven following regulatory reforms and investor-friendly policies.
Speaking at the 2025 CERAWeek by S&P Global in Houston, Texas, NNPCL Executive Vice President, Upstream, Udy Ntia, highlighted Nigeria’s expanding oil and gas industry as a prime destination for investment. He pointed to rising global energy demand and Nigeria’s efforts to boost refining capacity and utilise its 207 trillion cubic feet of gas reserves to drive industrial growth.
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Ntia said the Petroleum Industry Act 2021 and recent Executive Orders had improved the regulatory framework, attracting $16 billion to $17 billion in foreign investments in 2024. He encouraged investors from China, India, and beyond to capitalise on Nigeria’s crude oil reserves and flexible investment models.
The session featured key industry figures, including leaders from China’s National Petroleum Corporation, ONGC Videsh Ltd, and Libya’s National Oil Corporation, as Nigeria continues its push to attract global partners.
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