Group Chief Executive Officer of NNPC Ltd, Mele Kyari, has stated that the world recognizes Africa as the next key destination for supporting the global energy market, with Nigeria positioned as the continent’s largest producer of oil and gas.
Kyari made this remark while delivering an address on the theme “Africa’s Energy Renaissance: Unlocking Opportunities for Global Investors” at the opening ceremony of the 2025 Nigeria International Energy Summit (NIES) in Abuja on Tuesday.
Emphasizing Nigeria’s role in the global energy landscape, Kyari affirmed that oil will continue to be a critical component of the global energy mix well into 2025, contributing over 39 percent of global oil demand, as the world will require more than 100 million barrels of oil daily.
“At NNPC Ltd., we view gas not merely as a transitional fuel but as a vital and sustainable alternative for the future. Currently, over 70% of Nigeria’s population lacks access to clean cooking fuel, and more than 50% remains without reliable electricity. These gaps present a significant opportunity for gas to play a transformative role,” Kyari noted.
He explained that these realities have driven Nigeria to prioritize the development of essential infrastructure, regulatory frameworks, and fiscal incentives to harness gas as a key solution for improving energy access and driving national development.
Highlighting Africa’s vast energy potential, Kyari stressed that gas infrastructure development remains critical to driving Nigeria’s trillion-dollar economy.
“Nigeria is poised to take a leading role in unlocking the continent’s full potential in natural gas. NNPC Ltd is leading efforts to deliver gas to domestic industries and power plants while building the necessary infrastructure to bolster economic growth,” he stated.
Kyari attributed industry reforms to strong leadership that has established favorable fiscal terms for gas. He noted that many Final Investment Decisions (FIDs) were made possible due to President Bola Tinubu’s Executive Order on Oil & Gas, which provided fiscal incentives to enhance the ease of doing business.
“Today, investors are increasingly recognizing that investing in Nigeria, particularly in the oil and gas sector, offers not only the potential for solid returns but also a stable fiscal environment that ensures long-term profitability,” Kyari said.
He described the renewed confidence in Nigeria’s investment climate as a significant factor driving the resurgence of interest from global investors, who are returning to capitalize on the growing opportunities within the sector.