NNPC Calls for Stronger Gas Financing Frameworks in Africa

The Nigerian National Petroleum Company Limited (NNPC Ltd) has called on African nations to enhance financing structures and improve payment systems to unlock the continent's vast natural gas potential. Speaking at the Africa CEO Forum in Kigali, Rwanda, Olalekan Ogunleye, NNPC’s Executive Vice President of Gas, Power & New Energy, addressed a strategic roundtable titled "Gas without Cash: Breaking the African Monetisation Deadlock." He argued that Africa's gas resources are currently underutilized due to weak financial frameworks and unreliable payment mechanisms, which deter long-term capital investment. Ogunleye emphasized the need for practical, bankable solutions tailored to local market realities to drive sustainable energy growth. He highlighted that trust in payment systems is foundational for commercializing gas projects across the continent. Additionally, he outlined Nigeria's strategy to adopt a comprehensive value-chain approach, aiming to position the country as a regional energy hub and enhance commercial viability. The forum gathered senior executives and policymakers to discuss regional integration and investment mobilization, underscoring the urgent need for African-led financial solutions to overcome monetization challenges in the energy sector.