By JKNewsMedia
STRAGETIC DIRECTION at the Nigerian National Petroleum Company (NNPC) Limited has been reaffirmed with a clear emphasis on value creation, competitiveness and efficiency as the foundation of its new business model.
Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, made the declaration in Abuja while delivering a keynote address at the 2025 Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit held at the Transcorp Hilton.
Speaking on the theme “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investors and Incremental Production,” Ojulari said NNPC Limited’s transformation is guided by operational excellence and investor confidence under the Petroleum Industry Act (PIA) alongside global market realities.
He stressed that resilience in the oil and gas sector must translate into reforms across operations, governance and partnerships.
Ojulari explained that the PIA offers a framework to transform the investment climate, noting that NNPC Limited now operates under a new model that is focused on restructuring joint ventures, monetising assets and investing in critical infrastructure across the oil and gas value chain.
He added that beyond production volumes, the future of the industry rests on the strength of Environmental, Social, and Governance (ESG) practices, which are becoming key factors for global investors.
“Today, oil and gas companies are judged not only by what they produce, but how they produce it. Environmental stewardship, social responsibility, and sound governance are now critical metrics for accessing capital, winning community support, and sustaining growth.
NNPC Limited has initiated an Energy Transition Roadmap – reducing our carbon footprint, investing in gas as a transition fuel, and improving transparency,” he stated.
The GCEO emphasised that every additional barrel and gas molecule contributes directly to national prosperity and energy security, adding that stakeholder alignment remains crucial to unlocking stranded assets and driving incremental production.
He called for stronger collaboration among PENGASSAN, labour unions, investors, government and industry players to assure stability, de-risk the environment and create sustainable conditions for growth.
While commending PENGASSAN for strengthening Nigeria’s energy workforce, Ojulari restated NNPC Limited’s commitment to innovation, collaboration and national development.
He urged all stakeholders to embrace resilience as a deliberate choice for the industry’s future.
Earlier, PENGASSAN President, Comrade Festus Osifo, said long-term sustainability of Nigeria’s oil and gas sector requires a collective commitment to environmental stewardship embedded in robust corporate governance.
He commended President Bola Tinubu for providing a strong foundation for incremental production and fresh investments through recently signed executive orders.
These include measures to shorten contracting cycles, support non-associated gas development, extend the duration of third-party contracts and introduce performance-based tax incentives.
The summit, tagged PEALS 2025, gathered senior government officials, industry leaders, labour representatives and stakeholders to deliberate on strategies for strengthening Nigeria’s oil and gas industry amid global energy transition pressures.
