Abuja: Nigeria has successfully attracted investments exceeding $8 billion (approximately N12.8 trillion) in deepwater projects and gas Final Investment Decisions (FIDs) over the past year, according to the Presidency. This significant achievement was announced by Olu Verheijen, Special Adviser on Energy to President Bola Tinubu, during the 2025 Africa CEO Forum in Abidjan, C´te d’Ivoire.
According to News Agency of Nigeria, a statement was released regarding Verheijen’s address at the event by Mr. Senan Murray, Team Lead, Communications, in the Office of the Special Adviser. The Special Adviser emphasized to policymakers, investors, and industry leaders from across the continent that this accomplishment was the result of decisive actions taken by President Tinubu. These actions included improved fiscal terms, streamlined contracting timelines, enhanced clarity in local content rules, and power sector reforms that enabled gas-to-power commercial viability.
Verheijen urged industry leaders throughout Africa to draw inspiration from Nigeria’s success. She emphasized the need for Africa to transform into an intentional investment destination, guided by policy clarity, commercial logic, and strategic intent, rather than relying solely on external support.
“Nigeria has demonstrated that a strategic approach yields results. We transitioned from gridlock to greenlight, and investors responded positively,” Verheijen noted. She highlighted Nigeria’s significant increase in indigenous equity in gas, from 69% to 83%, as a pivotal shift in the ownership and control of Africa’s energy future.
Verheijen also called on African investors, Development Finance Institutions (DFIs), banks, pension funds, and sovereign entities to strategically fill the void left by International Oil Companies (IOCs). She emphasized the importance of not only providing funding but also offering fit-for-purpose instruments and risk-sharing structures.
“Our advantage lies in onshore, shelf, and domestic gas. African players must take the lead in these areas because we have a deep understanding of the terrain, risks, and rewards,” she stated.
The Special Adviser celebrated the achievements of African private sector champions like Seplat, Oando, and Renaissance, highlighting that they are no longer merely “local players.” She specifically praised the Renaissance Africa Energy Consortium’s acquisition of Shell’s onshore Joint Venture, describing it as a symbolic transition from colonial-era concessions to indigenous control.
Verheijen also acknowledged the construction of the Dangote Refinery, the world’s largest single-train refinery, as a testament to African capital, expertise, and ambition. She emphasized that the project serves as proof that African industrial scale is not just aspirational but operational.
In conclusion, Verheijen urged industry players across the continent to refine their policies, commercial logic, and strategic intent to attract investments and capital. “When we achieve this, capital will not hesitate; it will pursue us. Africa’s future will not be handed to us-it must be built deliberately, unapologetically, and on our terms,” she asserted.