The Federal Government has intensified efforts to attract global oil and gas investors, positioning recent economic reforms and a growing pipeline of energy projects as key evidence of Nigeria’s renewed investment appeal.
Officials say Nigeria is leveraging structural changes in the energy sector, including the Petroleum Industry Act (PIA), fuel subsidy removal, and exchange rate unification, to rebuild investor confidence and unlock capital inflows into oil, gas, and power.
At a recent energy stakeholders’ forum in Lagos, presidential adviser on energy, Olu Verheijen, said Nigeria’s longstanding challenge has not been resource scarcity but its inability to effectively convert reserves into productive output and revenue. She noted that ongoing reforms are aimed at fixing this gap and improving the efficiency of the entire energy value chain.
According to government data, federation revenue rose sharply in 2024 to about N21 trillion, up from roughly N12 trillion the previous year, a surge attributed partly to fiscal reforms and subsidy savings. Officials also highlighted increased domestic refining activity, with local petrol output rising significantly as Nigeria reduces dependence on imported fuel.
The government is also pushing major interventions in the power sector, including plans to clear up to N4 trillion in verified debts owed to power generation companies and gas suppliers. The move is expected to improve liquidity, restore investor trust, and stabilise electricity supply chains.
With these reforms, Nigeria is presenting itself to global investors as a more stable and commercially viable energy destination, supported by regulatory clarity, expanding infrastructure projects, and a stronger push toward domestic gas utilisation and industrial growth.
Foreign partners, including representatives from the United Kingdom, have also signalled renewed interest in Nigeria’s energy market, particularly in gas development, grid systems, and renewable integration, as the country positions itself as a regional energy hub.
