- Nigeria’s energy reforms have drawn over $8 billion in oil and gas investments within a year.
- The government is driving cleaner, value-added growth through gas expansion and industrial diversification.
Nigeria’s energy reforms have attracted more than $8 billion in new investments within one year, according to the Special Adviser to the President on Energy, Mrs Olu Verheijen. She revealed this during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025 in the United Arab Emirates.
Verheijen said the reforms aim to reverse years of decline in the oil and gas sector and restore investor confidence. She noted that when President Bola Tinubu assumed office, investment inflows were stagnant despite the passage of the Petroleum Industry Act (PIA). Therefore, the President introduced new directives to accelerate reforms, improve fiscal incentives, and make Nigeria’s projects more globally competitive.
The result has been remarkable. Around $5 billion in new oil sector commitments and $3 billion in gas investments have already been recorded. These developments reflect renewed confidence in Nigeria’s energy reforms and demonstrate the government’s determination to create a vibrant and sustainable energy market.
Verheijen explained that the government’s focus on non-associated gas is strengthening domestic energy reliability. This has improved gas supply for power generation, industrial production, and export. She added that expanding local gas processing also supports the petrochemical and fertiliser industries, boosting employment and rural development.
“Our goal is not only to export crude oil,” she said. “We want to build industries that add value through refining and manufacturing.”
She highlighted that Nigeria has become one of Africa’s leading fertiliser exporters, helping farmers boost yields and productivity.
In addition, the reforms have encouraged private investment in Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) projects, thereby bringing clean and affordable energy to more households. Improved security in the Niger Delta has also encouraged local contractors to resume operations, creating jobs in oil-producing communities.
Speaking on the energy transition, Verheijen said Nigeria’s strategy centres on “energy addition” rather than elimination. Gas, she explained, serves as a cleaner transitional fuel that balances sustainability with economic growth.
She stressed that the goal is not to abandon fossil fuels but to make them cleaner and more efficient. Therefore, the government is reducing gas flaring, promoting gas-powered electricity, and advancing cleaner transport fuels.
Verheijen described Nigeria’s presence at ADIPEC 2025 as proof of a credible and re-energised nation ready for transparent partnerships. She added that ongoing reforms will create a commercially driven Nigerian National Petroleum Company Limited (NNPC Ltd.) and a stable investment climate for affordable energy access.