NNPC Ltd Advances Portfolio Optimisation with Asset Stake Sales and Infrastructure Financing

The Nigerian National Petroleum Company Limited (NNPC Ltd) has initiated a process to divest stakes in selected oil and gas assets as part of its ongoing portfolio optimisation strategy. The company has invited bids from interested investors, with a registration deadline set for 10 January 2026. Qualified bidders will undergo pre-screening based on technical and financial capabilities, gaining access to a virtual data room, followed by evaluations, negotiations, and regulatory approvals.

This move aligns with NNPC Ltd’s efforts to attract fresh capital and enhance operational efficiency in assets, including joint ventures with international partners. Nigeria continues to prioritise incremental production growth, particularly from marginal onshore fields previously operated by major international oil companies.

However, the initiative echoes earlier proposals that faced strong opposition from key industry unions. In September 2025, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) voiced concerns over potential reductions in government stakes in joint venture assets, warning of risks to economic stability, sector strength, and employee welfare.

In parallel, NNPC Ltd is pursuing significant infrastructure improvements. The company is in discussions for approximately $2 billion in financing from Nexus Alliance to rehabilitate and upgrade its extensive pipeline network, which has been plagued by vandalism, theft, ageing infrastructure, and operational disruptions. These funds, expected early in 2026, aim to restore capacity, reduce leaks, and support higher crude output and domestic energy supply.

NNPC Ltd remains focused on ambitious targets, including elevating oil production to at least 1.8 million barrels per day and bolstering gas output, while aiming to secure substantial investments in the coming years. The company’s transformation under the Petroleum Industry Act (PIA) 2021 continues to enable commercial operations, greater transparency, and potential future public listing.

These developments underscore NNPC Ltd’s strategic repositioning to drive investment, production growth, and energy security in Nigeria, Africa’s largest oil producer.