NNPC Limited is aggressively repositioning itself as Africa’s most investor-friendly national oil company, with Chief Financial Officer Adedapo Segun declaring the corporation open to “any partnership model that works for the investor” during a high-profile panel at ADIPEC 2025.
Speaking on the “Unleashing Investment for Energy Transformation” stage, Segun told a packed room of global energy financiers and operators that NNPC’s new mantra is flexibility without compromise on governance. “We’re forging new, dependable alliances while optimising existing partnerships,” he said, signalling a deliberate pivot from rigid JV structures to a menu of options that includes economic interests with ring-fenced production and cost-recovery terms, as well as equity stakes in low-risk greenfield developments.
“Investors no longer have to take one-size-fits-all,” Segun explained. “Whether you want carried interest, production-sharing, or straight equity in a de-risked asset, we can structure it. Our job is to make the opportunity bankable and the pathway to cash clear.”
The remarks underscore NNPC’s post-PIA transformation: a commercially driven entity now armed with autonomous decision-making, transparent ring-fencing, and a leadership team laser-focused on turning Nigeria’s 37 billion barrels of proven reserves into investable, cash-flowing projects.
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Segun’s appearance at ADIPEC—where NNPC commanded one of the largest national pavilions—drove home the message that the company is no longer just a regulator or operator but a proactive deal architect. Multiple side-meetings with Middle Eastern sovereign funds and European supermajors were scheduled immediately after the session, industry sources confirmed.
The CFO closed with a direct appeal: “Come to Nigeria with your capital and your preferred structure. We have the assets, the governance, and now the adaptability to make the partnership work for both sides.”
