President Bola Tinubu has said Nigeria is prepared to work with African countries, global partners and the private sector to provide cleaner, affordable, inclusive and more secure energy.
Tinubu stated this on Tuesday while declaring open the 9th Nigeria International Energy Summit held at the State House Banquet Hall, Abuja.
The President, who was represented by Vice President Kashim Shettima, described energy as a critical force that sustains economies, stabilises societies and strengthens relations among nations.
“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.
According to him, Nigeria is prioritising the utilisation of its vast gas reserves as a transition fuel, while also expanding renewable energy capacity to promote peace, prosperity and global stability.
Tinubu noted that his administration inherited an energy sector in 2023 that was rich in potential but hampered by inefficiencies, uncertainty and years of underinvestment.
“We set to work without fanfare, guided by the understanding that energy cannot be treated simply as an economic commodity if stability is our goal,” he said.
“Energy is a catalyst for national security, industrial growth, social inclusion and regional cooperation.”
The President assured that his government remains fully committed to building an energy system that delivers reliability, transparency, sustainability and shared prosperity.
Highlighting reforms in the sector, Tinubu said his administration has sustained and deepened the full implementation of the Petroleum Industry Act, describing it as the backbone of ongoing reforms aimed at strengthening regulatory institutions, improving transparency and boosting investor confidence.
“Under our watch, Nigeria’s upstream activity recorded a historic rebound. Rig counts rose from eight rigs in 2021 to 69 rigs by late 2025,” he said.
He added that the sector secured Final Investment Decisions exceeding $8 billion, including major offshore gas projects involving global energy companies, while foreign direct investment into the oil and gas subsector rebounded significantly.
Tinubu also disclosed that crude oil theft, which had long constrained production and revenue, has declined due to improved security coordination, surveillance and regulatory enforcement.
“These efforts restored operational stability and improved Nigeria’s production reliability in international markets,” he said.
Earlier, President Adama Barrow of The Gambia said Nigeria’s energy policies have implications beyond its borders, stressing that regional energy security can only be achieved through strategic partnerships.
On his part, President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea urged African countries to stop being mere exporters of raw materials and focus on local processing for the benefit of future generations.
In a speech read on his behalf, Senate President Godswill Akpabio said energy in Africa goes beyond resources and must be driven by inclusive and sustainable prosperity.
He assured that the National Assembly is ready to provide the necessary legislative backing to support energy sector reforms, noting that “when the energy system works, the economy grows more resilient.”
