The federal government has disclosed that Nigeria attracted over $8 billion in deepwater oil and gas Final Investment Decisions (FIDs) in less than one year, underscoring recent presidential actions to remove the existing bottlenecks in the sector.
Speaking at the just concluded 2025 Africa CEO Forum in Abidjan, Côte d’Ivoire, the Special Adviser on Energy to President Bola Tinubu, Olu Verheijen, explained that Nigeria has recently focused on improved fiscal terms, streamlined contracting timelines and greater clarity to local content rules.
A statement signed yesterday by the Team Lead, Communications, Office of the Special Adviser to the President on Energy, Senan Murray, noted that as a result of these reforms, including the restructuring which is enabling gas-to-power commercial viability, “We moved from gridlock to greenlight, and investors responded.”
Delivering her message to policymakers, investors, and industry leaders across the continent, Verheijen insisted that “Capital is not African or foreign”, explaining that “It is rational; and Africa must compete for it.”
Multi-billion-dollar deepwater and LNG projects are global capital territory, Verheijen said, and Africa must partner smartly, not from dependency, but from aligned strategic interest.
