The Presidency announced that Nigeria has secured over $8 billion in deepwater and gas project investments within a year. Special Adviser on Energy, Olu Verheijen, revealed this at the 2025 Africa CEO Forum in Abidjan, crediting the growth to government reforms such as improved tax terms, faster approvals, clearer local content rules, and power sector changes that support gas-to-power projects.
Olu Verheijen called on African nations to move from aid-seeking to becoming intentional investment destinations, citing Nigeria’s recent success as an example. She highlighted an increase in Nigerian ownership of the gas sector from 69% to 83% as a key achievement. Verheijen urged African financial institutions to bridge the investment gap left by international oil companies using effective tools and risk-sharing strategies. She emphasized Africa’s strengths in onshore, shallow water, and domestic gas projects, with local companies like Seplat and Oando leading the way.
The Dangote Refinery, she noted, proves that African resources can deliver world-class projects.Nigeria needs $20 billion annually for the next 10 years to develop its gas infrastructure, according to NEITI CEO Dr. Ogbonnaya Orji. In 2024, Finance Minister Wale Edun approved new fiscal incentive guidelines to enhance competitiveness and stimulate growth in the oil and gas sector.
