Abuja: The Special Adviser to the President on Energy, Mrs Olu Verheijen, has announced that the ongoing energy sector reforms under President Bola Tinubu’s administration have successfully attracted more than eight billion dollars in new investments within the span of one year. This announcement was made during an interview with News Agency of Nigeria (NAN) at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025 in the United Arab Emirates (UAE).
According to News Agency of Nigeria, the reforms aim to reverse long-standing decline in Nigeria’s oil and gas sector, positioning the country as a competitive global energy investment destination. Verheijen highlighted that the passage of the Petroleum Industry Act (PIA) was a significant step, yet initial investment responses were slower than anticipated. To address this, President Tinubu issued directives to accelerate reforms, enhance fiscal incentives, and make Nigeria’s projects more globally competitive.
The new policies have enhanced investor confidence, leading to approximately five billion dollars in fresh oil sector commitments and an additional three billion dollars in gas investments. Verheijen noted that the government’s focus on non-associated gas is enhancing the reliability of gas supply for both export and domestic use, particularly in power generation and industrial development.
The administration’s goal is to ensure more affordable energy, stimulate local industries such as petrochemicals and fertiliser production, and expand job opportunities for Nigerians. Verheijen emphasized the importance of adding value through processing and manufacturing, rather than merely exporting raw commodities, highlighting Nigeria’s status as one of Africa’s leading fertiliser exporters.
The reforms are also encouraging private investment in Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) value chains, making clean and affordable energy more accessible to Nigerians. Security improvements in the Niger Delta have enabled more local contractors to return to sites, boosting economic activity in oil-producing communities.
On the topic of energy transition, Verheijen stated that Nigeria’s strategy focuses on “energy addition” rather than elimination, using gas as a cleaner, transitional fuel. The country is working to reduce gas flaring, promote gas-based power generation, and encourage cleaner transportation fuels.
Verheijen described Nigeria’s presence at ADIPEC 2025 as a chance to present a “renewed, re-energised and credible Nigeria” committed to transparent partnerships and regional collaboration. She projected that ongoing reforms would lead to a more commercially driven national oil company, the Nigerian National Petroleum Company Limited (NNPC Ltd.), and an investment climate that ensures reliable and affordable energy for all Nigerians.
Regarding comments attributed to former U.S. President Donald Trump about alleged religious persecution in Nigeria, Verheijen dismissed these claims as inaccurate, affirming Nigeria’s commitment to protecting the rights and freedoms of all citizens, regardless of religion. She welcomed fact-based engagement with U.S. partners to address security challenges constructively.
The special adviser reaffirmed Nigeria’s commitment to maintaining peace, stability, and investment confidence in the energy sector.