President Bola Tinubu has reaffirmed Nigeria’s commitment to working with African countries, global allies, and the private sector to deliver cleaner, affordable, and more inclusive energy solutions. He said energy remains a critical force shaping global stability, economic growth, and cooperation among nations, stressing that Nigeria is positioning itself as a reliable partner in the global energy transition.
The President made the remarks while declaring open the 9th Nigeria International Energy Summit at the State House Banquet Hall in Abuja. Represented by Vice President Kashim Shettima, Tinubu addressed a gathering of international energy leaders, government officials, development finance institutions, and executives of global and indigenous energy companies, alongside representatives of host communities.
Tinubu noted that while energy is central to peace and prosperity, Nigeria is deliberately focusing on harnessing its vast gas reserves as a transition fuel while expanding renewable energy capacity. According to him, energy must not only power industries and homes but also build trust between government, investors, and citizens, adding that the country is determined to deliver energy that is secure, cleaner, and economically inclusive.
Reflecting on the state of the sector inherited in 2023, the President said Nigeria’s energy industry was rich in potential but hampered by inefficiencies, uncertainty, and years of underinvestment. He explained that his administration responded by fully implementing the Petroleum Industry Act, strengthening regulatory institutions, and restoring investor confidence through clearer rules and fiscal reforms.
He revealed that these measures have led to a major rebound in upstream oil and gas activity, with rig counts rising from eight in 2021 to 69 by late 2025, alongside over $8bn in new investment decisions. Tinubu also said crude oil theft had declined significantly due to improved security coordination and enforcement, helping Nigeria regain production stability and credibility in global energy markets.
source: punch