NNPCL Eyes $60bn Investment to Boost Nigeria’s Sustainable Energy Future
The Nigerian National Petroleum Company Limited (NNPCL) has unveiled plans to attract $60 billion in investments by 2030 to strengthen sustainability, energy security and growth in the nation’s upstream sector.
Olanrewaju Igandan, Head of Joint Venture Investment Management at NNPC Upstream Investment Management Services (NUIMS), announced the target during a panel session at the Nigeria Annual International Conference and Exhibition (NAICE 2025) of the Society of Petroleum Engineers in Lagos.
Bold Production and Investment Targets
Speaking on the theme “Governance and Structuring Human Resources Strategies for a Sustainable Energy Future,” Igandan outlined NNPCL’s ambition to reach three million barrels per day and 12 billion standard cubic feet of gas within five years.
“In the next five years, we have a very bold ambition to hit three million barrels per day, 12 billion standard cubic feet of gas, and attract about 60 billion dollars of investment by 2030,” he said.Governance, Talent and ESG at the Core
Igandan said the company’s strategy is built on robust governance structures, strategic human capital development and strict adherence to Environmental, Social and Governance (ESG) standards elements he described as critical to accessing global capital.
“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.He argued that talent development, sound governance and aligned investments are central to building a resilient, inclusive and competitive energy sector that can attract the required capital.
