The Presidency has introduced that the nation has attracted over $8 billion in investments for deepwater and gasoline initiatives inside a yr.
This was made recognized by the Particular Adviser to President Bola Tinubu on Power, Olu Verheijen, throughout her deal with on the 2025 Africa CEO Discussion board in Abidjan, Côte d’Ivoire.
She highlighted that the success resulted from authorities reforms, together with higher tax situations, sooner approval processes, clearer guidelines, and enhancements within the energy sector that make gas-to-power initiatives extra engaging to traders, in line with the Information Company of Nigeria (NAN).
“The Presidency says Nigeria attracts over 8 billion {dollars} (about N12.8 trillion) investments in deepwater initiatives and gasoline Closing Funding Choices (FIDs) in a single yr.
“Olu Verheijen, Particular Adviser on Power to President Bola Tinubu, disclosed this on Wednesday, on the 2025 Africa CEO Discussion board holding in Abidjan, Côte d’Ivoire,” the supply learn partly.
She added that “The actions centered on improved fiscal phrases, streamlined contracting timelines, higher readability to native content material guidelines, and energy sector reforms enabling gas-to-power industrial viability.
African nations must fill the funding hole
She urged African nations to shift from searching for assist to changing into deliberate funding locations, guided by clear insurance policies and centered methods, pointing to Nigeria as proof that this method works, having moved “from gridlock to inexperienced mild” and attracted sturdy investor curiosity.
One key achievement she identified was the rise in Nigerian possession of the nation’s gasoline sector from 69% to 83%, which she described as a serious step ahead in giving Africans extra management over their very own power sources.
Verheijen urged African monetary establishments, together with growth banks and sovereign wealth funds, to fill the funding hole left by IOCs with the best instruments and risk-sharing methods, not simply funding.
She identified that Africa’s energy lies in onshore, shallow water, and home gasoline initiatives, the place native gamers like Seplat, Oando, and Renaissance Power are already making important progress.
She additionally identified that the Dangote Refinery, the world’s largest single-train refinery is proof that African ambition, capital, and expertise can ship initiatives at a worldwide scale.
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