Economy

NNPC Ltd Calls for Global Partnerships to Tackle Africa’s Energy Poverty at ADIPEC 2025

Published

12 months ago

November 5, 2025

NNPC Limited urges global investors at ADIPEC 2025 to partner with Africa in eradicating energy poverty and shaping a sustainable energy future

NNPC Limited has urged global investors to form strategic partnerships that will help eradicate energy poverty and unlock Africa’s vast energy potential.

Also read: NNPCL Urges NUPRC to Boost Investment Facilitation

Speaking at ADIPEC 2025 in Abu Dhabi, the Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, called for urgent and pragmatic collaboration to reshape the continent’s energy landscape.

During the “Energy Talk” session moderated by Pulitzer Prize-winning energy author Daniel Yergin, NNPC Limited’s chief emphasised Nigeria’s pivotal role in driving Africa’s energy independence.

He described NNPC as the continent’s central energy force, committed to transforming Nigeria from a resource-extractive economy into a diversified investment hub.

“Africa’s energy future must be built on pragmatism, partnerships, and purpose,” Ojulari said. “At NNPC Limited, we are not just participating in the energy transition we are shaping it from an African perspective.

Our focus is pragmatic: grow production, monetise gas, deepen partnerships, and deliver value to Nigerians and global partners alike.”

Under the Renewed Hope Agenda of President Bola Tinubu, NNPC Limited has increased Nigeria’s crude oil production to 1.7 million barrels per day, with ambitions to reach 2 million by 2027 and 3 million in the long term.

Ojulari explained that these gains were made possible through redefined relationships with international oil companies and local independents, removing long-standing barriers to progress.

He reaffirmed the company’s goal of attracting between $30 billion and $60 billion in new energy investments by 2030, supported by fresh government incentives beyond the Petroleum Industry Act.

These include targeted measures for deep-water exploration, dry gas development, and cost optimisation.

Ojulari also highlighted flagship projects such as the near-completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, the Obiafu-Obrikom-Oben (OB3) line, and Nigeria’s growing autogas infrastructure under the Presidential CNG Initiative — all aimed at expanding access to cleaner, affordable energy.

Echoing the words of Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and ADNOC CEO, who urged “pragmatic, not performative” energy action, Ojulari stressed that NNPC Limited’s vision aligns with global efforts to secure sustainable energy futures.

“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future. We invite the world to co-invest in Africa’s energy transformation,” he declared.

Also read: NNPC Dangote crude supply deal renewed for two years

NNPC Limited’s participation at ADIPEC 2025 themed “Energy. Intelligence. Impact.” reinforces its evolution into a commercially driven, globally competitive energy company that is not only powering Nigeria but shaping Africa’s energy destiny.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

14 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.