The Nigerian National Petroleum Company Limited (NNPC) has opened discussions to divest minority stakes in select oil and gas assets as part of efforts to optimise its portfolio and attract fresh investment, according to a report.
Sources familiar with the matter said the talks, which are at an early stage, involve both local and international investors and are focused on non-core and mature upstream assets. The move is understood to be aimed at easing funding pressures, improving cash flow, and boosting operational efficiency.
NNPC has faced growing financial demands linked to joint venture obligations, asset maintenance, and infrastructure investments. Selling minority stakes would allow the company to unlock value while retaining strategic control over key assets.
Analysts note that the reported discussions align with NNPC’s transformation into a commercially-driven entity under the Petroleum Industry Act, which mandates profitability, transparency, and reduced reliance on government funding.
The talks also come as Nigeria seeks to stabilise crude oil production amid challenges such as underinvestment, oil theft, and pipeline disruptions. Bringing in new investors could support output recovery and improve asset performance.
NNPC has not officially confirmed the discussions or disclosed the assets involved. Any transaction, if concluded, would be subject to regulatory approvals.