Umar Ajiya

Nigerian National Petroleum Corporation (NNPC)

Chief Financial Officer

Mr. Ajiya, a seasoned Finance and Business Management Professional with practical experience in Corporate Financing, Business Strategy and Stakeholder Management, has over 32 years’ experience in the Oil and Gas Industry. He started his career with Elf Petroleum (now Total) and joined the Nigeria Liquefied Natural Gas Limited (NLNG) in 1991. Mr. Ajiya contributed significantly in raising finance for the NLNG Trains as well as marketing of LNG. He rose to occupy several positions including the Head of Treasury, Finance and Marketing & Business Development. In 2012, he joined NNPC as the GM, Commercial in the LNG Division where he established LNG marketing JVs. Before his elevation to Chief Financial Officer of NNPC in 2019, he was the Head of Corporate Planning & Strategy of the NNPC Group. He was also the MD of the Petroleum Products Marketing Company (PPMC) where he championed the transformation of PPMC from a loss making to a profitable company for the first time in its 28 years history. Mr. Ajiya is presently championing the efforts to raise finance for various Projects, the restructuring of the NNPC Accounts in the wake of the Petroleum Industry Bill aimed at broader reforms including the full commercialization of NNPC. He sits on the Board of several organizations including the Federal Inland Revenue Service. He is an advocate of Transparency, Accountability and Performance Excellence.

Sessions With Umar Ajiya

Tuesday, 2 March

  • 07:30am - 08:00am (CST) / 02/mar/2021 01:30 pm - 02/mar/2021 02:00 pm

    Strategic Dialogue

    NOC Strategies for the Future

    Panel Markets/Economics/Strategy Upstream Oil & Gas Energy Transition/Climate & Sustainability Gas & LNG
    National Oil Companies (NOCs) are essential anchors, from both economic and energy security perspectives. Their mandates have grown, as well as their complexities, in dealing with the 2015 downturn in oil/gas prices, the growing role of an energy transition, and now the COVID-19 pandemic. With domestic resources maturing, coupled with portfolio rebalancing of the industry, what strategies do NOCs need to adopt for the future? How has the COVID-19 pandemic and the resulting downturn in oil/gas prices impacted near-term priorities? How does the changing competitive landscape impact investment outlooks? What technologies and partnerships are necessary to develop the next wave of technically challenging resources? Are the right levers in place to attract and retain investor capital? What else needs to change? How do NOCs create balance between focusing on core E&P and navigating the energy transition?