The Nigerian National Petroleum Company Limited (NNPCL), Nigeria’s state-owned oil corporation, has launched a bid process to sell stakes in select oil and gas assets as part of portfolio optimisation efforts.
Okay News reports that the move, revealed through an invitation document circulated late last week, aims to attract fresh investments into the country’s energy sector.
Interested investors are required to register online by January 10, 2026, followed by pre-screening based on technical and financial capabilities.
Qualified bidders will gain access to a secure virtual data room with detailed asset information, leading to further evaluation, negotiations, and regulatory approvals.
The NNPCL holds interests in numerous assets, some fully owned and others in joint ventures with international majors including Shell, Chevron, Eni, and TotalEnergies.
While the specific stakes or expected proceeds remain undisclosed, the exercise aligns with earlier plans to divest or reduce equity in certain fields.
Such sales could potentially unlock capital, enhance operational efficiency, and bring in experienced operators to boost performance.
Nigeria, Africa’s leading crude oil producer, continues to face challenges including regulatory uncertainty, pipeline vandalism, oil theft, and ageing infrastructure impacting output.
The initiative comes as the country seeks incremental production growth, particularly from onshore fields recently divested by international oil companies.
Previous draft plans for similar divestments had drawn criticism from labour unions over concerns about job security and national strategic interests.
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