The Nigerian National Petroleum Company Limited (NNPC Ltd) has begun plans to sell parts of its oil and gas assets as it looks to attract new investors and improve operations in the energy sector.
According to reports, the national oil company has invited interested investors to submit bids for stakes in selected assets. Although NNPC did not reveal how much of the assets it plans to sell or how much it hopes to raise, the move is part of efforts to optimise its portfolio and bring in fresh capital.
Documents related to the process show that companies interested in buying the assets must register online by January 10. This will be followed by a screening process to assess the technical and financial capacity of bidders. Firms that qualify will then be given access to detailed information on the assets through a secure virtual data room.
NNPC holds interests in several oil and gas assets across the country, including those it owns outright and others operated jointly with international oil companies such as Shell, Chevron, Eni, and TotalEnergies.
The sale process is expected to include further evaluations, negotiations, and the securing of necessary regulatory approvals before any final decisions are made.
The development follows earlier indications that NNPC was considering selling up to 25 per cent of its stakes in some oil and gas fields as part of a broader plan to streamline its operations. However, past proposals have faced opposition from oil sector unions, who raised concerns about possible job losses and the long-term impact of asset sales.
Nigeria, Africa’s largest oil producer, has struggled in recent years with declining output, oil theft, regulatory uncertainty, and ageing infrastructure. The government hopes that attracting new investors, especially into marginal and onshore fields, will help boost production and stabilise revenue.
Analysts say the planned asset sales could help unlock funding, improve efficiency, and attract experienced operators, provided the process is transparent and supported by clear regulatory approvals.
