Tinubu's Admin Secures $60bn in Energy Investments

President Bola Tinubu's administration has successfully attracted $60 billion in energy sector investments and commitments within its first three years. The report, documented by special adviser Olu Arowolo Verheijen, notes a tenfold increase in Nigeria's share of upstream final investment decisions from 2023 to 2026.

Nigeria's share of African upstream final investment decisions rose from 39% in 2023 to a projected 44% in 2025. The report indicates that crude oil production is expected to increase from 1.2 million barrels per day in 2023 to 1.6 million barrels per day by 2025.

Key reforms, including the removal of petrol subsidies and unification of the foreign exchange market, have restored investor confidence and improved macroeconomic stability. The government's revenue from the Federation Account Allocation Committee is projected to rise from ₦10.9 trillion in 2023 to ₦22.6 trillion in 2025, representing a 107% increase.

Additionally, illegal refining activities have reportedly dropped to zero.