NNPC Ltd. participated in CERAWeek by S&P Global in Houston on Wednesday as Olugbenga Oluwaniyi, Chief Finance/Investor Relations Officer, served as a panelist in the “African Energy Sovereignty: The ‘all-of-the-above’ strategy” session.
The discussion was moderated by Daniel Evans, Vice President, S&P Global, and also featured Bambo Ibidapo-Obe, General Manager, Commercial, Oando Energy Resources, and Alcides Andrade, Executive Board Member, ANPG Angola.
Oluwaniyi highlighted Nigeria’s approach to energy self-determination through control of resources and a balanced energy mix. He noted that Nigeria has proven gas reserves of 210 trillion cubic feet (tcf) of which 101 tcf is associated gas and 109 tcf is non-associated gas. He stated that Nigeria is a gas country more than an oil-producing country and described it as a “gas-rich nation with some oil reserves.” He added that Nigeria believes in a just and fair energy transition where gas serves as the transition fuel, which will remain relevant far longer than crude oil.
With these strengths, Nigeria positions itself as a destination of choice for major investments. Oluwaniyi further emphasised the importance of bankable projects with clear value propositions, realistic financial projections and addressed risks such as pipeline vandalism, which is now tamed through diverse measures, including community engagement. He prioritised investment in gas infrastructure and development as a key area of the value chain for the foreseeable future.