ABUJA, Nigeria (VOICE OF NAIJA)-Nexus Alliance has categorically refuted claims that it is in talks with the Nigerian National Petroleum Company Limited (NNPC) over financing a large-scale rehabilitation of Nigeria’s ageing oil pipeline network.
The denial comes in response to a Bloomberg report published on December 29, 2025, which quoted anonymous sources said to be familiar with the alleged discussions.
The report stated that NNPC had considered raising $2 billion earlier in the year to fix vandalised pipelines, modernise infrastructure, and address persistent leaks that have long plagued the nation’s oil sector.
Nigeria’s extensive pipeline system, which stretches thousands of kilometres across the Niger Delta and other regions, forms the core of the oil and gas industry, conveying crude oil to export terminals and distributing refined products nationwide.
However, the network has increasingly highlighted systemic weaknesses, suffering frequent breaches caused by sabotage from militants and oil thieves, alongside corrosion linked to years of inadequate investment.
These disruptions have resulted in environmental damage, reduced production from Nigeria’s estimated 1.5 million barrels-per-day capacity, and increased dependence on costly fuel transportation by road, driving up consumer prices.
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Following the Petroleum Industry Act (PIA) of 2021, NNPC has embarked on privatisation and modernisation efforts aimed at attracting international investors.
The proposed $2 billion funding plan aligns with this approach, with a focus on advanced technologies such as fibre-optic monitoring systems for real-time leak detection and reinforced pipelines to prevent vandalism.
Nexus Alliance’s clarification has put to rest speculation about its involvement, although the identities of other potential financiers have not been disclosed.
Meanwhile, NNPC Ltd is said to have begun moves to divest interests in certain oil and gas assets, while also seeking about $2 billion in fresh funding to restore key pipeline infrastructure as part of efforts to boost output and draw new investment.
Reports indicate that NNPC has already issued invitations for bids on some of its oil and gas assets, requiring interested firms to complete online registration by January 10, ahead of a prequalification screening.
Successful applicants will gain access to a secure virtual data room.
The invitation document notes that prequalification will be determined by both technical expertise and financial strength, before progressing to document review, negotiations, and regulatory clearance.