…Hails Tinubu’s Reforms for Attracting Global Investors
Nigeria is positioning itself as a key player in Africa’s energy renaissance, with the Nigerian National Petroleum Company Limited (NNPC Ltd.) leading efforts to expand the continent’s gas infrastructure, Group Chief Executive Officer Mele Kyari has said.
Speaking at the opening ceremony of the 2025 Nigeria International Energy Summit (NIES) in Abuja on Tuesday, Kyari highlighted Nigeria’s dominance in Africa’s oil and gas industry and its growing influence on the global energy market.
Delivering an address on the theme “Africa’s Energy Renaissance: Unlocking Opportunities for Global Investors,” Kyari emphasized that oil remains a critical component of the global energy mix, with demand projected to exceed 100 million barrels per day in 2025.
“At NNPC Ltd., we view gas not merely as a transitional fuel but as a vital and sustainable alternative for the future. Currently, over 70% of Nigeria’s population lacks access to clean cooking fuel, and more than 50% remains without reliable electricity. These gaps present a significant opportunity for gas to play a transformative role,” he stated.
Kyari stressed that Nigeria is prioritizing infrastructure development, regulatory frameworks, and fiscal incentives to maximize gas utilization, drive national development, and position itself as a trillion-dollar economy.
Tinubu’s reforms driving investment growth
He credited recent industry reforms to President Bola Tinubu’s leadership, noting that the administration’s Executive Order on Oil and Gas has provided fiscal incentives that are attracting new investments.
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“Many Final Investment Decisions (FIDs) recently announced in the sector are a direct result of these reforms. Today, investors are increasingly recognizing that investing in Nigeria, particularly in oil and gas, offers not only strong returns but also a stable fiscal environment that promises long-term profitability,” Kyari said.
He added that global investors are showing renewed confidence in Nigeria’s energy sector, fueling fresh interest and capital inflows into the country.
The 2025 Nigeria International Energy Summit, themed “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential,” is expected to serve as a platform for strategic partnerships and policy discussions aimed at unlocking Africa’s vast energy resources.