The Presidency has announced that the country has attracted over $8 billion in investments for deepwater and gas projects within a year.
This was made known by the Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, during her address at the 2025 Africa CEO Forum in Abidjan, Côte d’Ivoire.
She highlighted that the success resulted from government reforms, including better tax conditions, faster approval processes, clearer rules, and improvements in the power sector that make gas-to-power projects more attractive to investors, according to the News Agency of Nigeria (NAN).
“The Presidency says Nigeria attracts over 8 billion dollars (about N12.8 trillion) investments in deepwater projects and gas Final Investment Decisions (FIDs) in one year.
“Olu Verheijen, Special Adviser on Energy to President Bola Tinubu, disclosed this on Wednesday, at the 2025 Africa CEO Forum holding in Abidjan, Côte d’Ivoire,” the source read in part.
She added that “The actions focused on improved fiscal terms, streamlined contracting timelines, greater clarity to local content rules, and power sector reforms enabling gas-to-power commercial viability.
African nations need to fill the investment gap
She urged African nations to shift from seeking help to becoming deliberate investment destinations, guided by clear policies and focused strategies, pointing to Nigeria as proof that this approach works, having moved “from gridlock to green light” and attracted strong investor interest.
One key achievement she pointed out was the increase in Nigerian ownership of the country’s gas sector from 69% to 83%, which she described as a major step forward in giving Africans more control over their own energy resources.
Verheijen urged African financial institutions, including development banks and sovereign wealth funds, to fill the investment gap left by IOCs with the right tools and risk-sharing strategies, not just funding.
She pointed out that Africa’s strength lies in onshore, shallow water, and domestic gas projects, where local players like Seplat, Oando, and Renaissance Energy are already making significant progress.
She also pointed out that the Dangote Refinery, the world’s largest single-train refinery is proof that African ambition, capital, and talent can deliver projects at a global scale.
What should know
- Recently, the Executive Secretary and Chief Executive Officer of the Nigeria Extractive Industry Transparency Initiative (NEITI), Dr Ogbonnaya Orji, stated that Nigeria needs $20 billion annually for 10 years to invest in gas infrastructure.
- In 2024, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, led a signing ceremony at the Federal Ministry of Finance in Abuja to approve the Consolidated Guidelines for Fiscal Incentives in the Oil & Gas Sector, a key part of the Presidential Directive to boost Nigeria’s global competitiveness and drive economic growth.
