President Bola Tinubu has restated Nigeria’s readiness to collaborate with African nations, international companions and the personal sector to ship cleaner, reasonably priced, inclusive, and safer power.
Tinubu, represented by the Vice-President Kashim Shettima, gave the peace of mind on Tuesday on the Ninth Version of the Nigeria Worldwide Vitality Summit, held on the State Home Convention Corridor, Abuja.
He mentioned power performed a important position because the invisible power holding the trendy world collectively, in addition to the quiet structure of steadiness amongst nations, the unseen hand that steadies economies and sustains societies.
The president noticed that power remained central to peace, prosperity, and international stability.
He said that Nigeria was focusing closely on using its huge fuel reserves as a transition gas and increasing renewable power capability.
“Vitality should unite communities, stabilize economies, and safe futures. It should energy factories, illuminate properties, gas innovation, and construct belief between authorities, buyers, and residents.
“Nigeria stands able to collaborate with Africa, international companions, and the personal sector to ship power that’s safe, reasonably priced, cleaner, and inclusive,” he declared.
Tinubu recalled that regardless that his administration inherited an power sector that was wealthy in potential in 2023, the sector was “constrained by inefficiencies, uncertainty, and extended underinvestment.
” We set to work with out fanfare, guided by the clear understanding that power can’t be handled merely as an financial commodity if stability is our objective.
” Vitality is a catalyst for nationwide safety, industrial progress, social inclusion, and regional cooperation,” he said.
Tinubu assured that his authorities was absolutely dedicated to “constructing an power system that delivers reliability, transparency, sustainability, and shared prosperity.”
He mentioned that his administration sustained and deepened the complete implementation of the Petroleum Business Act.
He added that his authorities was consolidating its position because the stay wire of sector reform and strengthened regulatory establishments to make sure readability of roles, transparency, and investor confidence.
Tinubu added, ” Underneath our watch, Nigeria’s upstream exercise recorded a historic rebound. Rig counts rose from eight rigs in 2021 to 69 rigs by late 2025, reflecting renewed exploration and drilling momentum.
“The sector secured Closing Funding Choices exceeding eight billion United States {dollars}, together with main offshore fuel developments involving international power firms.
” International direct funding into the oil and fuel subsector rebounded strongly, pushed by regulatory certainty, fiscal reforms, and improved working situations.”
Tinubu mentioned crude oil theft, which had been a serious constraint on manufacturing and income, declined considerably as a result of enhanced safety coordination, surveillance, and regulatory enforcement.
He added that the efforts paid off, as they restored operational stability and improved Nigeria’s manufacturing reliability in worldwide markets.
” Early reforms, most notably gas subsidy removing and overseas trade liberalization, repositioned the sector’s economics, improved market effectivity, and enhanced long-term funding attractiveness.
” Whereas these measures required nationwide sacrifice, they laid the inspiration for sustainability, fiscal resilience, and investor confidence.
” Business stakeholders and unbiased specialists have described these reforms as transformational, aligning Nigeria’s power sector with international finest practices,” he added.
The Nigerian chief implored the contributors “to interact constructively, make investments confidently, and companion purposefully with Nigeria.”
Earlier, Gambian President, Adama Barrow, noticed that Nigeria’s insurance policies had implications far past its borders.
He mentioned that working collectively by way of strategic partnerships was key to regional options and power safety.
Additionally, the President of the Republic of Equatorial Guinea, Teodoro Mbasogo, maintained that Africa should stop to be merely an exporter of uncooked supplies and give attention to processing them for the betterment of future generations.
