Victor EzejaGroup Chief Executive Officer of the Nigeria National Petroleum Company (NNPC) Limited, Engr Bayo Ojulari, has called for stakeholder collaboration to unlock stranded assets and boost production across value chains in the oil and gas industry.
He called for collaboration between labour unions, investors, government and industry stakeholders towards assuring stability, de-risking the environment and creating conditions for sustainable growth.
Join our WhatsApp ChannelOjulari made call while delivering a keynote address themed “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investors and Incremental Production,” at the 2025 Petroleum & Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS 2025) held at the Transcorp Hilton, Abuja, on Wednesday.
“Every additional barrel and gas molecule contributes directly to national prosperity and energy security,” Ojulari noted.
The NNPC GCEO reaffirmed the company’s strategic focus on efficiency, competitiveness, and value creation as the foundation of its new business plan.
He said the provisions of the Petroleum Industry Act (PIA) have given the state-owned company the framework to drive operational excellence and transform its investment climate.
“NNPC Limited is now operating under a new business model, focused on value creation, competitiveness, and efficiency. This includes restructuring joint ventures, monetizing assets, and investing in critical infrastructure across the value chain,” Ojulari stated.
The GCEO stressed that, in addition to production volumes, the future of Nigeria’s oil and gas industry is dependent on strong Environmental, Social, and Governance (ESG) practices, and that global investors and communities are now judging energy companies not only on what they produce but also on how responsibly they produce it.
“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.”
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According to him, “NNPC Limited has initiated an Energy Transition Roadmap—reducing our carbon footprint, investing in gas as a transition fuel, and improving transparency.”
Earlier in his welcome address, PENGASSAN President, Comrade Festus Osifo, stated that the long-term viability of Nigeria’s oil and gas industry is dependent on a collective commitment to environmental stewardship, which is rooted in strong corporate governance.
Osifo praised President Tinubu for laying a solid foundation for increased production and investment, citing the recent signing of executive orders aimed at shortening the contracting cycle, promoting non-associated gas development, extending the duration of third-party contracts, and instituting performance-based tax incentives.
The Summit brought together senior government officials, industry captains, labor leaders, and stakeholders to discuss strategies for strengthening Nigeria’s oil and gas sector in the face of global energy transition pressures.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
