Lagos, December 29, 2025 – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has officially opened the door for investors to acquire stakes in some of its oil and gas assets, signalling a strategic push to optimise its portfolio and raise fresh capital.
According to a Reuters report, the state-owned energy giant is inviting bids from interested investors, though specifics on the size of the stakes or expected proceeds remain undisclosed. Efforts to reach NNPC for comment were unsuccessful at the time of filing.
NNPC’s portfolio spans multiple oil and gas assets, including outright holdings and joint ventures with international majors such as Shell, Chevron, Eni, and TotalEnergies.
The bid process requires prospective investors to register online by January 10, 2026, followed by a pre-screening exercise. Only prequalified firms will be granted access to a secure virtual data room containing detailed asset information.
The selection process will evaluate technical capacity, financial strength, document submissions, and regulatory compliance, culminating in negotiations and approvals before final transactions are executed.
Industry insiders note that this move aligns with NNPC’s broader strategy to divest at least 25 percent of equity in selected oil and gas fields, either through full divestments or partial stake reductions. The aim is to boost operational efficiency, attract private capital, and increase domestic crude production—challenges that have plagued Nigeria’s oil sector in recent years.
However, the plan has faced resistance from oil sector unions. In September, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) accused the federal government of attempting to sell major portions of NNPC’s joint venture assets. The union warned that proposed stake sales—allegedly ranging between 30 and 35 percent in some ventures—could compromise long-term national interest.
Nigeria has struggled to sustain crude output growth, with international oil companies scaling back onshore operations. The government hopes that opening marginal fields vacated by foreign operators to investors will drive incremental production and attract fresh investment into the sector.
As NNPC prepares for this landmark divestment, all eyes remain on the balance it strikes between immediate capital inflow and safeguarding national energy interests.
Joshua Chinonye ✔
Joshua Chinonye is the Energy Editor at Naija247news, covering Nigeria’s oil, gas, and power sectors. He reports on energy policy, market trends, and sustainability with a focus on informing public discourse and decision-makers.
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