Nigeria’s energy reforms to shape Africa’s industrial future – Verheijen

Nigeria’s ongoing energy reforms will play a crucial role in shaping Africa’s industrial and economic landscape, according to Olu Verheijen, Special Adviser to President Bola Tinubu on Energy.

Speaking at the Nigeria International Energy Summit 2025 in Abuja, Verheijen highlighted the country’s strides in securing investments, boosting refining capacity, and improving electrification. She emphasized that Nigeria’s progress in these areas would have far-reaching effects on regional energy security, intra-African trade, and industrialization.

“As Africa’s foremost oil and gas producer, Nigeria is uniquely positioned to influence the continent’s energy trajectory. Our success in securing major investments, expanding domestic refining capacity, and enhancing electrification is not only a national achievement—it has far-reaching implications,” she stated.

Verheijen stressed that greater energy security across Africa would lead to economic resilience, sustainable job creation, and industrial expansion. She also noted that Nigeria’s vast energy resources could be leveraged for industrial growth and strategic exports, ensuring long-term prosperity for the continent.

“A more energy-secure Africa translates into a more economically resilient Africa. By leveraging our vast energy resources for industrial development and strategic exports, we are laying the foundation for economic diversification and sustainable job creation,” she added.

Verheijen pointed out that nearly 600 million Africans—half of the continent’s population—lack access to electricity, a challenge that continues to hinder industrial growth, limit employment opportunities, and constrain economic progress.

“This widespread energy poverty continues to impede industrial growth, limit employment opportunities, and constrain economic prosperity across the continent,” she stated.

Highlighting Nigeria’s achievements in the energy sector in 2024, Verheijen listed several key milestones:

• Increasing oil production by 500,000 barrels per day.
• Reaching 2.06 million barrels per day in crude oil production.
• Securing three out of Africa’s four Final Investment Decisions (FIDs), valued at over $5.5 billion.
• Facilitating five major asset acquisitions.
• Reviving two domestic refineries and commencing petrol production at Africa’s largest refinery.

“These milestones were not a matter of chance but the result of deliberate strategy and decisive leadership,” she said.

She credited the growth in the oil and gas sector to improved security in oil-producing regions, which was achieved through a data-driven security framework developed in collaboration with operators, the Office of the National Security Adviser, and the Ministry of Defence.

Verheijen concluded by emphasizing that the reforms implemented today would define Africa’s energy future and Nigeria’s role in the global economy.

“When the history of Africa’s industrial revolution is written, 2024 will be recognized as the year Nigeria ignited the transformation,” she asserted.