Tinubu Establishes Taskforce for Petroleum Reform

President Bola Ahmed Tinubu has set up a 9-man taskforce focused on presidential petroleum reform and value optimization, as announced by his spokesperson Bayo Onanuga. The taskforce, chaired by Fola Adeola, co-founder of Guaranty Trust Bank and chairman of Fate Foundation, includes members such as Ademola Adeyemi, Bero Osagi, and others.

This group is designed to produce an executive-ready reform blueprint that will consolidate ongoing reforms and unlock capital within Nigeria's petroleum sector. The taskforce is expected to deliver three major reform blueprints within six months, including a toolkit for immediate structural fixes, a capital liquid acceleration blueprint aimed at unlocking $5-10 billion, and a national energy transformation strategy over ten years.

The taskforce will report directly to the president and is expected to ensure coordination among various reform initiatives within the sector, ultimately aiming to strengthen Nigeria's position as a global energy investment destination.