FG: Tinubu’s Reforms Have Positioned Gas as Foundation for Nigeria’s Industrialisation

Nigeria's federal government asserts that President Bola Tinubu's administration has fundamentally reshaped the oil and gas sector, establishing natural gas as the bedrock of the nation's industrial future. Reforms have reportedly restored investor confidence and driven significant progress in the energy infrastructure.

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for Nigeria, gas is not merely a transitional fuel; it is our development fuel. It is central to power, to fertiliser, to petrochemicals, to clean cooking, CNG transport, our exports, and manufacturing.

At a Nigerian British Chamber of Commerce event, the Special Adviser to the President on Energy, Olubukola Arowolo Verheijen, stated that gas is not just a transitional fuel but Nigeria's "development fuel." She highlighted its critical role in power generation, fertilizer production, petrochemicals, clean cooking, transportation, and manufacturing. With proven gas reserves exceeding 215 trillion cubic feet, the focus is now on leveraging this resource to create Nigerian products, jobs, and exports.

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But the goal is not to produce more gas; it is to ensure that gas becomes the power for Nigerian products, Nigerian jobs, and Nigerian exports.

Verheijen clarified that financial instruments issued to address power sector debts are a "strategic reset," not a bailout, aimed at clearing verified arrears and rebuilding liquidity. This reset is complemented by practical tariff reforms, with 45 percent of the market now reflecting costs tied to service quality. The national metering rate has also improved, with substantial deployment of new meters.

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The vision of Renaissance is built on being the African leading energy company and at the same time fuelling industrialisation, sustainably enabling energy security.

These initiatives have reportedly attracted capital back to the Nigerian oil and gas sector, with Nigeria's share of African upstream final investment decisions (FIDs) surging from approximately 4.0 percent in 2023 to around 40 percent in 2025. Representatives from Renaissance Africa Energy Company Limited echoed the sentiment, emphasizing the need for domestic gas to fuel industrialization and achieve energy security.

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Energy in Nigeria: From Potential to Reality,” spoke directly to “one of the most important imperatives of our time: transforming Nigeria’s abundant energy resources into sustainable economic growth, industrial development, and shared prosperity.”