NNPC Sets $60 Billion Investment Target by 2030 to Power Sustainable Energy Growth
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has unveiled an ambitious plan to attract $60 billion in investments by 2030, aiming to strengthen Nigeria’s upstream sector while advancing sustainability, energy security, and economic growth.
Olanrewaju Igandan, Head of Joint Venture Investment Management at NNPC Upstream Investment Management Services (NUIMS), disclosed the target during a panel session at the 2025 Nigeria Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE) in Lagos.
Bold Targets for Oil and Gas Production
According to Igandan, the company’s five-year roadmap includes a drive to achieve three million barrels of oil per day and 12 billion standard cubic feet of gas, while attracting responsible and scalable capital flows into Nigeria’s energy sector.
“In the next five years, we have a very bold ambition to hit these production targets and attract about $60 billion in investment by 2030,” he said, stressing that the company’s approach is guided by Environmental, Social and Governance (ESG) principles that are increasingly critical for global capital access.
Governance and Talent at the Core
He noted that robust governance structures and forward-looking human capital strategies are central to positioning Nigeria as a leading destination for sustainable energy investment. “NNPC’s motto is ‘energy for today, energy for tomorrow’, and that aptly captures the essence of sustainability. Without ESG compliance, you will have challenges accessing capital,” Igandan added.
Industry Engagement
The NUIMS executive underscored the importance of talent development, governance, and investment alignment in meeting NNPC’s targets. NAICE 2025 the flagship annual event of the SPE Nigeria Council — convened global energy leaders, policymakers, and engineers to discuss innovations, best practices, and the future of the industry.
