The Special Adviser to the President on Energy, Olu Verheijen, said a total of $6.7 billion was invested in Nigeria’s energy sector in 2024.
She disclosed this in a report titled, ‘Presidency Energy Sector Wrap-Up 2024,’ released by her office, stressing that oil and gas sector accounted for $5.5 billion.
According to the report, $400 million was invested by the federal government in the presidential metering initiative, while $700 million went to clean mobility and cooking.
The report indicated assets acquisition made up the $5.5 billion investment, which included Renaissance Consortium’s acquisition of Shell Petroleum Development Company Limited at $1.3 billion.
It stated: “Seplat Energy Plc completed the acquisition of Mobil Producing Nigeria Unlimited MPNU from ExxonMobil Corporation ($1.3 billion firm consideration).
“Chappal Energies completed the acquisition of Equinor Nigeria Energy Company (ENEC), a subsidiary of Norway’s Equinor ASA ($1.2 billion). Chappal Energies completed the acquisition of TotalEnergies EP Nigeria’s 10% interest in the SPDC JV licenses in Nigeria ($860 million). Oando Plc completed the acquisition of the Nigerian Agip Oil Company (NAOC) ($800 million).
“These acquisitions unlock onshore fields for a new wave of ambitious indigenous companies, ready to invest and boost production.”
