Nigeria’s state owned energy company, NNPC Limited, is seeking to sell stakes in a number of oil and gas assets as part of a broader effort to restructure its portfolio, according to an invitation document seen by media.
The document shows that NNPC has opened a bidding process for interests in assets it owns outright as well as those operated jointly with international energy companies. While the scale of the proposed sales and the funds targeted were not disclosed, the move signals a renewed push to attract capital into Nigeria’s struggling hydrocarbons sector.
NNPC has previously indicated it intends to sell at least 25 percent of its equity in selected oil and gas fields, either through partial divestments or full exits. The plan, framed as a portfolio optimisation strategy, has faced opposition from oil sector unions concerned about job security and national control over energy resources.
According to the invitation, potential bidders must register online by January 10, after which a pre screening process will determine which companies gain access to a secure virtual data room. Selection will be based on technical expertise and financial strength, followed by document evaluations, negotiations, and regulatory approvals.
Nigeria has faced persistent challenges in raising crude oil output and securing fresh investment, with production weighed down by ageing infrastructure, theft, and regulatory uncertainty. Authorities are increasingly looking to marginal onshore fields, many of which were abandoned by international firms, to deliver incremental production growth.
The planned stake sales come as global oil markets adjust following increased output from OPEC plus producers in 2025, adding further pressure on Nigeria to stabilise production and improve competitiveness.