The Nigerian National Petroleum Company Limited (NNPCL) has called for stronger African-led financing systems and commercially sustainable payment structures to unlock the continent’s vast gas resources and drive industrial growth. The position was disclosed in a statement published on the official X handle of the NNPCL, on Friday May 15,……
The Nigerian National Petroleum Company Limited (NNPCL) has called for stronger African-led financing systems and commercially sustainable payment structures to unlock the continent’s vast gas resources and drive industrial growth.
The position was disclosed in a statement published on the official X handle of the NNPCL, on Friday May 15, following discussions at the ongoing Africa CEO Forum in Kigali.
According to the company, its Executive Vice President for Gas, Power and New Energy, Olalekan Ogunleye, made the call while speaking at the African Oil and Gas Coalition’s Strategic Roundtable.
The session focused on the theme, “Gas without Cash: Breaking the African Monetisation Deadlock.”
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Ogunleye said Africa must develop practical financing solutions capable of supporting long-term gas commercialisation projects across the continent.
He noted that consistent payment performance remains critical to building a sustainable gas market and improving energy security in African countries.
According to him, Nigeria is adopting a value-chain-driven strategy in developing its oil and gas sector while positioning itself as a major energy hub on the continent.
“Nigeria is taking a comprehensive value-chain approach to the oil and gas business. For Africa to fully unlock its gas potential, we must move from conversations about challenges to building practical, bankable solutions that work within African realities,” Ogunleye said.
TVC News Online hade earlier reported that President Bola Tinubu urged African nations to prioritise stronger economic collaboration within the continent, stressing that Africa’s growth and prosperity depend largely on deeper regional partnerships, trade integration, and investment in local businesses.
In a statement shared via his X handle after the event, the Nigerian leader said Africa must focus on building internal economic strength rather than relying heavily on external markets and foreign partnerships.
According to him, African countries must create opportunities for businesses to scale across borders through increased intra-African trade, improved infrastructure connectivity, and stronger support systems for the continent’s youthful and innovative population.
