FG Courts Fresh Investments To Boost Oil, Gas Growth

By ESTHER McWILLIS-IKHIDE

THE Federal Government has reaffirmed its commitment to attracting new investments in Nigeria’s oil and gas sector to spur industrialisation and economic growth.

Presidential Adviser on Energy, Olu Verheijen, said this during a meeting with Tony Attah, MD of Renaissance Africa Energy, which recently acquired Shell’s onshore assets. She noted that reforms under President Bola Tinubu’s administration are designed to create a transparent and investor-friendly environment.

Verheijen commended Renaissance for raising oil production by over 40% within 150 days of the acquisition and urged further drilling to sustain growth.

Attah praised government reforms, including three Executive Orders that reshaped the sector, and confirmed Renaissance had resumed meeting gas supply obligations to NLNG for the first time in five years.

He said the company aims to drive energy security and sustainable industrialisation while supporting Nigeria’s energy transition.