By Francis Ajuonuma
The Nigerian National Petroleum Company Limited has entered into a strategic partnership with the African Export-Import Bank to advance energy development and industrial growth across Africa.
NNPC Ltd. disclosed this on Monday in a statement 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 last week.
According to the company, discussions focused on expanding cooperation in energy financing, infrastructure development and investment opportunities targeted at strengthening Africa’s oil and gas sector.
NNPC Ltd. said it also outlined its strategic direction under its “Enterprise First” framework, which is designed to position the national oil company as a commercially driven and high-performing energy enterprise.
The statement said both institutions agreed on a shared agenda to drive continental energy development and industrialisation through sustained collaboration and regular strategic engagements.
“The parties aligned on a common vision for Africa’s energy future and agreed to convene periodic strategic sessions, with the first expected later this year,” the company stated.
The talks also centred on the proposed African Energy Bank expected to be headquartered in Abuja, with NNPC Ltd. reaffirming its commitment to increased investment in the initiative.
According to the statement, Afreximbank pledged continued support for NNPC Ltd.’s expansion plans through structured financing, refinancing arrangements and risk-sharing mechanisms aimed at unlocking Nigeria’s oil and gas potential.
The partnership comes amid growing efforts by African financial institutions and energy firms to mobilise regional funding for major petroleum and infrastructure projects across the continent.
