President Bola Tinubu has said Nigeria is ready to work closely with African countries, international partners, and the private sector to deliver cleaner, affordable, inclusive, and more secure energy solutions.
Tinubu made this known yesterday while declaring open the 9th Nigeria International Energy Summit held at the State House Banquet Hall in Abuja.
He was represented at the event by Vice President Kashim Shettima.
The summit brought together heads of delegations, senior government officials, leaders of global energy organisations, chief executives of energy companies, development finance institutions, and representatives of host communities.
The President described energy as a critical force that sustains economies, stabilises societies, and underpins global peace and prosperity.
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He said Nigeria is prioritising the use of its vast gas reserves as a transition fuel while also expanding renewable energy capacity.
“Energy must unite communities, stabilise economies, and secure futures. It must power factories, illuminate homes, fuel innovation, and build trust between government, investors, and citizens,” Tinubu said, adding that Nigeria stands ready to collaborate with global partners to achieve these goals.
Reflecting on the state of the sector inherited by his administration in 2023, Tinubu said the energy industry was rich in potential but held back by inefficiencies, uncertainty, and years of underinvestment.
He stressed that his government moved quickly to reposition the sector, recognising energy as a catalyst for national security, industrial growth, social inclusion, and regional cooperation.
The President highlighted the sustained implementation of the Petroleum Industry Act as a major reform pillar, noting that it has strengthened regulatory clarity, transparency, and investor confidence.
According to him, Nigeria’s upstream sector has recorded a historic rebound, with rig counts rising from eight in 2021 to 69 by late 2025.
He also disclosed that the sector secured over $8bn in Final Investment Decisions, including major offshore gas projects involving global energy firms, while foreign direct investment in oil and gas rebounded due to regulatory certainty and improved operating conditions.
Tinubu added that crude oil theft, which previously constrained production and revenue, has declined significantly following enhanced security coordination, surveillance, and regulatory enforcement, restoring stability and boosting Nigeria’s reliability in global markets.
Earlier, Gambian President Adama Barrow said Nigeria’s energy policies have far-reaching implications across the continent, stressing that strategic partnerships are essential for regional energy security.
Equatorial Guinea’s President, Teodoro Obiang Nguema Mbasogo, urged African countries to move beyond exporting raw materials and focus on value addition for future generations.
In a message delivered on his behalf, Senate President Godswill Akpabio assured that the National Assembly is ready to support the energy transition through legislative backing, noting that a functional energy system is vital for building a resilient economy.
