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The African Centre for Energy Governance and Accountability (ACEGA) has commended President Bola Ahmed Tinubu for implementing what it calls “groundbreaking and well-coordinated” reforms in Nigeria’s oil and gas sector.
In a statement signed by Executive Director Dr. Usman Bello Idris, ACEGA lauded Tinubu’s backing of the Petroleum Industry Act (PIA) and efforts to boost crude oil production, which it said are restoring investor confidence and reviving Nigeria’s energy industry.
“For years, Nigeria’s oil and gas sector groaned under inefficiency, uncertainty, and dwindling output. But what we are seeing today under President Tinubu’s leadership is a bold reset,” said Dr. Idris.
According to ACEGA, oil production has steadily risen since mid-2023, now exceeding 1.7 million barrels per day — a significant recovery from under 1.2 million in 2022. The group attributed the gains to “strategic regulatory leadership and presidential backing,” including the relaunch of dormant assets, improved metering, and better pipeline security.
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“Nigeria’s crude oil production had been on life support… Fields are coming back online, theft is being checked, and operators are regaining the confidence to produce,” Dr. Idris added.
The group credited Tinubu for not just inheriting the PIA but actively empowering agencies like the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to drive implementation.
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“We must commend President Tinubu for not sidelining the PIA… he has supported a robust implementation strategy already yielding results in licensing, fiscal discipline, community development, and investor clarity,” Dr. Idris said.
ACEGA also praised NUPRC boss Engr. Gbenga Komolafe for reducing production costs and introducing real-time monitoring and transparent bidding processes.
“The president has given NUPRC room to work… Their efforts to enforce better metering, clamp down on theft, and promote decarbonisation reflect a forward-thinking agenda aligned with global standards,” the statement noted.
While applauding the reforms, ACEGA urged the administration to deepen investments in infrastructure, resolve lingering industry disputes, and plan for energy transition.
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“The work is not done yet… But what this administration has shown is that with political will, the sector can be revived,” Dr. Idris concluded.