
Mkpoikana Udoma
Port Harcourt — Nigeria has reclaimed its position as Africa’s top destination for upstream oil and gas investment, securing three of the four Final Investment Decisions, FIDs, recorded on the continent in 2024, according to Presidential Energy Adviser, Olu Verheijen.
Verheijen explained that with a combined value exceeding $5 billion, the milestone marks a significant resurgence in the country’s energy sector.
She said the feat was directly tied to five landmark presidential directives and fiscal incentives introduced by President Bola Ahmed Tinubu’s administration during the year.
Verheijen who is the Special Adviser to President Bola Tinubu on energy, praised the administration’s efforts, describing the achievement as transformative for the sector
“These measures have not only bolstered Nigeria’s appeal to investors but also positioned the country for unprecedented growth in 2025 and beyond.”
She added that the directives and incentives are reshaping the industry and reaffirming Nigeria’s role as a powerhouse in Africa’s energy sector.
“These transformative measures are not only reshaping Nigeria’s energy landscape but also setting the stage for unprecedented levels of investment in 2025 and beyond,” Verheijen noted.