Nigerian National Petroleum Company, NNPC Ltd (NNPCL), and the Nigeria Extractive Industries Transparency Initiative (NEITI) are moving to formalise a new partnership on data disclosure and open reporting.

The Memorandum of Understanding (MoU) they plan to sign is designed to make operational data easier to access, more consistent, and more useful to citizens, investors, and regulators.

What the MoU sets out to do

At a meeting in Abuja with NEITI’s team led by Executive Secretary Dr. Orji Ogbonnaya Orji, NNPCL’s Group Chief Executive Officer, Engr. Bayo Ojulari confirmed that the company has already restored its monthly operational reports and is tightening the internal systems behind them.

The MoU will lock in that commitment. In practice, it will align both institutions on what gets published, how it is presented, and when it is released, ensuring a stable flow of comparable data that the public can rely on.

Ojulari explained that NNPCL is reviewing reporting processes and controls to improve accuracy. He linked the push for transparency to wider reforms under the Petroleum Industry Act (PIA), which turned the old corporation into a limited liability company with a long-term goal of public listing.

Listing requires tighter governance, clear disclosures, and steady engagement with stakeholders—exactly what the MoU aims to support.

Why it matters now

NNPCL is under a mandate to raise crude oil output toward three million barrels per day by 2030. Hitting that goal will demand new investment and stronger confidence from lenders and partners.

Reliable, timely data lowers uncertainty, helps price risk, and keeps projects moving. An MoU that guarantees regular publication,backed by stronger internal checks,can therefore improve the environment for financing and execution.

NEITI’s stance

NEITI welcomes the renewed commitment but stresses that credibility comes from consistency. Dr. Orji urged NNPCL to maintain uninterrupted monthly releases and ensure contract transparency, noting past gaps that occurred after the PIA took effect. He framed the objective clearly:

NNPCL should operate at the standard of global peers such as Aramco, QatarEnergy, and Petronas, where predictable data and open contracts are the norm. Where domestic obstacles arise, NEITI offered to convene stakeholders to resolve them quickly.

What the public should expect

If the parties follow through, readers should see three changes. First, regular monthly numbers,production, operations, and other key indicators are published on schedule without breaks. Second, clear formats and definitions that allow year-to-year and month-to-month comparison.

Third, a dependable data trail that supports audits for 2024 and 2025 and gives investors a single source of truth.