The Nigerian National Petroleum Company Limited (NNPCL) has announced a strategic partnership with the African Export-Import Bank aimed at advancing energy development and industrialisation across Africa.
NNPC Ltd. disclosed this in a statement issued on Monday following a meeting between its Group Chief Executive Officer, Engr. Bashir Ojulari, and the President and Chairman of the Board of Directors of Afreximbank, Dr. George Elombi, at the NNPC Towers in Abuja.
According to the statement, the discussions focused on strengthening collaboration in energy financing, investment and long-term industrial growth across the continent.
NNPC Ltd. said it outlined its strategic direction under its “Enterprise First” framework, which positions the company as a high-performance Partner of Choice driven by execution and profitable growth.
The company stated that both leaders agreed on a shared agenda for continental energy development and industrialisation.
As part of the agreement, NNPC Ltd. and Afreximbank will hold regular strategic sessions to drive the partnership, with the first meeting expected later this year.
The statement further noted that discussions also centred on financing arrangements for major energy projects.
NNPC Ltd. reportedly led talks on the proposed African Energy Bank, which is expected to be headquartered in Abuja.
The company confirmed its readiness to deepen investments in the planned institution as part of efforts to strengthen energy security and financing capacity across Africa.
According to the statement, Afreximbank reaffirmed its commitment to supporting NNPC Ltd.’s growth plans through risk-sharing arrangements, structured financing and refinancing initiatives.
The bank also pledged support for the development of Nigeria’s oil and gas resources to enhance production capacity and economic growth.
Industry analysts believe the partnership could strengthen Nigeria’s position as a major energy hub in Africa while supporting regional industrialisation efforts.
The collaboration is also expected to improve access to funding for critical oil, gas and energy infrastructure projects across the continent.
