President Bola Tinubu has highlighted significant gains in Nigeria’s oil, gas, and power sectors, noting that reforms introduced by his administration are attracting new investments, boosting energy security, and supporting industrial growth.
In a nationwide message marking the third anniversary of his administration on Friday, Tinubu emphasized the impact of policy changes on both domestic energy utilization and export potential. He pointed to the $5 billion Nigeria Liquefied Natural Gas (NLNG) Train 7 project, now nearing completion, as a milestone that will expand LNG production capacity, increase exports, and generate dividends for the nation.
“Domestic gas utilisation is expanding, complementing industrial development and strengthening energy supply,” Tinubu stated. He also noted improvements in local refining capacity, reducing dependence on imported petroleum products and conserving foreign exchange.
On the power sector, the president acknowledged the challenges inherited from previous administrations, including debt, underinvestment, and operational uncertainties that constrained electricity generation. “For years, the power sector suffered from debt and limited investment, which weakened generation capacity and restricted growth. Today, we are addressing these challenges directly,” he said.
Tinubu outlined ongoing efforts to tackle legacy debts, expand transmission infrastructure, invest in renewable energy projects, and strengthen the national grid. “No modern economy can grow in darkness. Stable electricity is crucial for business expansion, industrial growth, job creation, and household prosperity,” he said.
The president reaffirmed his commitment to transforming Nigeria into a competitive, industrialized economy. “We are determined to power Nigeria into a new era of industrial growth and economic opportunity,” he declared.
