The Special Adviser to the President on Energy, Mrs Olu Verheijen, says the ongoing energy sector reforms under President Bola Tinubu’s administration have attracted more than eight billion dollars in new investments within one year.
Verheijen made this known in an interview with the News Agency of Nigeria (NAN) on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025 in the United Arab Emirates (UAE) on Wednesday.
She said that the reforms were designed to reverse decades of decline in Nigeria’s oil and gas sector and reposition the country as a competitive global energy investment destination.
“When the President came into office, it was clear that we needed to halt the decline in oil and gas investments.
“The passage of the Petroleum Industry Act (PIA) was a major milestone, but we realised that expected investments were still slow to materialise.
“To address this, the President issued a series of directives to accelerate reforms, improve fiscal incentives, and make Nigeria’s projects more competitive globally,” she said.
According to her, the new policies have boosted investor confidence, leading to about five billion dollars in fresh oil sector commitments and an additional three billion dollars in gas investments.
Verheijen explained that the government’s focus on non-associated gas was improving reliability of gas supply for both export and domestic use, particularly in power generation and industrial development.
She said the aim was to ensure more affordable energy, stimulate local industries such as petrochemicals and fertiliser production and expand job opportunities for Nigerians.
“Our vision is not just to export raw commodities but to add value through processing and manufacturing.
“We are now one of Africa’s leading fertiliser exporters and this supports our agricultural sector, boosts yields and creates jobs,” she said.
The adviser noted that the reforms were also stimulating private investment in Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) value chains to make clean and affordable energy accessible to more Nigerians.
She said that security in the Niger Delta had improved significantly, with more local contractors returning to sites and independent Nigerian operators taking over operations, creating jobs and economic activity in oil-producing communities.
On energy transition, Verheijen said that Nigeria’s strategy was focused on “energy addition” rather than elimination, using gas as a cleaner, transitional fuel.
“Globally, fossil fuels still account for 80 per cent of energy consumption.
“The issue is not to abandon them but to make them cleaner and more sustainable.
“That is why we are reducing gas flaring, promoting gas-based power generation and encouraging cleaner transportation fuels,” she added.
She described Nigeria’s presence at ADIPEC 2025 as an opportunity to showcase “a renewed, re-energised and credible Nigeria” committed to transparent partnerships and regional collaboration.
“We have delivered most of the key energy reforms promised by the President within three years, and that has strengthened our credibility as a global partner.”
Verheijen projected that the 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.
On comments attributed to former U.S. President Donald Trump about alleged religious persecution in Nigeria, Verheijen dismissed such claims as inaccurate.
“Nigeria is a sovereign country committed to protecting the rights and freedoms of all citizens, irrespective of religion.
“While we recognise there are security challenges, these are complex and not driven by religious motives.
“We welcome fact-based engagement with our U.S. partners to address these issues constructively,” she said.
The special adviser reiterated that Nigeria remained committed to maintaining peace, stability and investment confidence in the energy sector.
