Nigeria's President Tinubu to Bring Bold Energy Reforms to African Energy Week 2025

Strategic Insights -

Nigeria's President Bola Ahmed Tinubu is set to address African Energy Week 2025, Invest in African Energies, as the country undergoes sweeping oil, gas, and energy sector reforms. These reforms have already attracted over $8 billion in new investments, positioning Nigeria as one of Africa's most attractive energy markets. President Tinubu's participation comes as the country embarks on an ambitious program to reposition itself as a top-tier destination for energy investment. Since assuming office, President Tinubu has spearheaded wide-ranging reforms aimed at overhauling project delivery frameworks, cutting costs, and unlocking multi-billion-dollar opportunities across the value chain.

Key Takeaways:

  • President Tinubu has led Nigeria's sweeping oil, gas, and energy sector reforms, attracting over $8 billion in new investments and positioning the country as one of Africa's most attractive energy markets.
  • The reforms include streamlined contracting processes, tax incentives, and the removal of regulatory and local content compliance bottlenecks, with a target of cutting upstream project costs by up to 40%.
  • Nigeria has secured over $8 billion in deepwater oil and gas final investment decisions, with ExxonMobil committing $1.5 billion to new deepwater field developments.
  • Shell has strengthened its position in deepwater and integrated gas, while Chevron is expanding operations at the Agbami field, one of Nigeria's largest deepwater discoveries.
  • Petrobras has declared its interest in returning to deepwater exploration in Nigeria, seeking frontier acreage as a result of improved regulatory clarity and investor-friendly reforms.
  • Nigeria has unveiled major new initiatives to promote local content and industrial growth, including the "Naira for Crude" initiative, which aims to promote local refining, enhance energy security, and reduce reliance on foreign currency in the domestic oil market.
  • The country is advancing its gas monetization strategy and reviving refining capacity to enhance energy security and drive industrialization.
  • The Dangote refinery, set to begin nationwide distribution of petrol and diesel later this year, is expected to help end Nigeria's decades-long reliance on gasoline imports, a trade valued at $17 billion.

Statistics:

  • $8 billion: The amount of new investments attracted to Nigeria's oil and gas sector under President Tinubu's reforms.
  • 40%: The target reduction in upstream project costs aimed at making Nigeria's operating environment globally competitive.
  • 650,000 bpd: The operational capacity of the Dangote refinery, set to begin nationwide distribution of petrol and diesel later this year.
  • $17 billion: The trade value of Nigeria's gasoline imports, which the Dangote refinery is expected to help end.
  • $1.5 billion: The amount committed by ExxonMobil to new deepwater field developments in Nigeria.

Sources:

  • M2 PressWIRE-June 17, 2025-: Nigeria's President Tinubu to Bring Bold Energy Reforms to African Energy Week (AEW) 2025 Stage
  • African Energy Chamber
  • APO Group