Nigeria TV Info — BUSINESS / ENERGY

NNPC Plans Sale of Stakes in Oil and Gas Assets, Calls for Bids

The Nigerian National Petroleum Company Limited (NNPC Ltd) is planning to sell stakes in some of its oil and gas assets and has already invited bids from interested investors, according to a report by Reuters on Monday.

The report, citing an official invitation document, said prospective bidders are required to register online on or before January 10. This registration will be followed by a pre-screening process, after which qualified companies will be granted access to a secure virtual data room containing detailed information on the assets.

The planned divestment is part of ongoing efforts by the Federal Government to restructure Nigeria’s oil and gas sector, attract fresh investment, and improve efficiency and profitability within NNPC Ltd, which was commercialised under the Petroleum Industry Act (PIA).

However, the move has continued to generate controversy within the sector. In September, two of Nigeria’s most influential oil and gas workers’ unions strongly opposed reported plans by the government to divest significant stakes in joint venture assets managed by NNPC.

The unions warned that such asset sales could undermine national interests, threaten job security, and weaken Nigeria’s long-term control over its strategic energy resources. They urged the government to engage stakeholders fully before proceeding with any major divestment decisions.

Despite the opposition, the call for bids suggests that the divestment process is moving forward, with industry watchers closely monitoring how the development will reshape Nigeria’s oil and gas landscape.