President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to working with African nations, global partners and the private sector to deliver affordable, secure and cleaner energy.
The President’s message was delivered by Vice President Kashim Shettima at the 9th International Energy Summit held in Abuja and attended by heads of delegation, senior government officials, energy sector chief executives and development finance institutions.
In his address President Tinubu described energy access as a foundation for peace, prosperity and stability.
He outlined a dual strategy that prioritises Nigeria’s vast natural gas reserves as a transition fuel while simultaneously accelerating the expansion of renewable energy.
According to him, the approach is critical to strengthening national security, driving industrial growth, promoting social inclusion, and enhancing regional cooperation.
The summit provided an opportunity to showcase major reforms and achievements in the energy sector under the Tinubu administration.
Key milestones highlighted include the full implementation of the Petroleum Industry Act, the strengthening of regulatory institutions and a sharp rise in upstream rig activity from eight in 2021 to sixty nine by 2025. The sector has also recorded Final Investment Decisions exceeding eight billion dollars covering major offshore gas projects.
Officials reported significant progress in curbing crude oil theft through improved security architecture and enforcement measures.
Broader economic reforms including the removal of fuel subsidy and the liberalisation of the foreign exchange market were also cited as steps that have improved sector economics, enhanced market efficiency and restored investor confidence.
Reinforcing the call for partnership, Senate President Godswill Akpabio and other African leaders stressed the importance of regional collaboration in harnessing sustainable energy solutions to drive Africa’s development.
The Ministers of State for Petroleum Resources, Senator Heineken Lokpobiri for Oil, and Rt Hon Ekperikpe Ekpo for Gas, commended private sector investments such as the Dangote Refinery and BUA Group. Minister Ekpo emphasised the central role of gas in Nigeria’s energy security under the Renewed Hope Agenda.
Private sector stakeholders expressed optimism about the sector’s future. Adegbite Falade of the Independent Petroleum Producers Group and Engr Bashir Bayo Ojulari of the Nigerian National Petroleum Company Limited noted that recent executive orders and policy reforms are encouraging increased local ownership and participation.
They highlighted Nigeria’s vast untapped potential with over thirty-seven billion barrels of oil resources, positioning the country as a rising global energy hub capable of delivering value for its citizens and partners.
