The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a strategic partnership with the African Export-Import Bank (Afreximbank) aimed at advancing energy development across the African continent.
According to a statement issued on Monday, the collaboration was discussed during a meeting last week between the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Ojulari, and the President and Chairman of Afreximbank, Dr. George Elombi, at the NNPC Towers in Abuja.
NNPC said the partnership aligns with its Enterprise First strategy, which is designed to position the company as a performance-driven and investment-focused energy partner committed to profitability and growth.
Both institutions reportedly agreed on a shared framework for promoting continental energy development and industrialisation, with plans to hold periodic strategic engagements, the first of which is scheduled for later in the year.
The discussions also focused on financing mechanisms, including the proposed African Energy Bank to be headquartered in Abuja, with NNPC expressing readiness to deepen its investment participation.
Afreximbank, on its part, reaffirmed its commitment to supporting NNPC’s growth through risk-sharing arrangements, structured financing, and refinancing initiatives aimed at expanding Nigeria’s oil and gas sector.
