Africa Needs Bankable Energy Projects, Says NNPCL GCEO Bayo Ojulari

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, has called for a continental shift toward bankable energy projects that can attract serious investments and close Africa’s energy infrastructure gap.

Speaking at a high-level energy forum, Ojulari noted that while Africa is rich in natural resources, the continent still faces major challenges due to the lack of financially viable and technically sound energy projects.

“Africa must urgently focus on designing projects that are commercially attractive, scalable, and transparent enough to win investor confidence,” he said.

Ojulari, who previously served as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) before his appointment as NNPCL’s GCEO by President Bola Ahmed Tinubu in April 2025, emphasized that robust public-private partnerships are critical to achieving sustainable energy development on the continent.

According to him, bankable energy initiatives are not just about electricity they are essential tools for industrialization, economic empowerment, and poverty reduction.

“We cannot industrialize or diversify our economies without reliable, clean, and accessible energy. And we cannot achieve that without investor-ready projects,” Ojulari stressed.

He also urged African governments to reform regulatory frameworks, enhance policy stability, and streamline approval processes to fast-track investments in the energy sector.

The call aligns with Nigeria’s ongoing petroleum sector reforms under President Tinubu’s administration, which aim to reposition NNPCL as a commercially driven national energy champion.

Ojulari’s remarks come at a time when global investors are increasingly looking to Africa as the next frontier for energy growth particularly in renewables, gas, and deepwater assets.