Organizers of Africa Oil Week have announced that Olu Verheijen, Special Advisor on Energy to His Excellency President Bola A. Tinubu, and Gabriel Aduda, Permanent Secretary of the Federal Ministry of Petroleum Resources, will lead a Nigerian delegation to attend this year’s event taking place on 9-13 October in Cape Town, South Africa to showcase investment opportunities within Africa’s largest oil & gas producing market.
The event is a global platform for deals and transactions, bringing together governments, national and international oil companies, independents, investors and service providers to maximise Africa’s natural resources, for the betterment of the continent.
Nigeria’s energy sector is in the middle of a complete overhaul after the passing of landmark reforms such as the Petroleum Industry Act in 2021, the signing of the Electricity Act in 2023, and the removal of gasoline subsidies by President Bola Ahmed Tinubu.
Such initiatives have been well received by the private sector and significantly increased investment appetite across the upstream, midstream, and downstream sectors.
As investors look to Nigeria, AOW is delighted to provide a platform for dealmaking and investments across the country’s oil, gas, and energy infrastructure.
The coming of Nigerian officials to AOW echoes the pro-business agenda of President Bola A. Tinubu and the openness of the new administration to provide an enabling environment for investors and stakeholders.
Following several consultations with local and international operators, the Special Advisor to President Tinubu on Energy and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recently announced that $55.2 billion of investments were projected from operators in Nigeria by 2030. About $13.5 billion is expected to be invested within the next 12 months alone.
At AOW 2023, the Nigerian delegation will communicate the country’s agenda to grow oil production to 2.1 million barrels per day by December 2024, expand midstream and downstream infrastructure, and build energy systems that are resilient and affordable.
Nigeria remains Africa’s biggest economy and energy market, with tremendous investment potential in oil production and refining, gas pipelines, gas distribution, and power infrastructure.
To support dealmaking across these segments, officials from Nigeria’s new government will be joined by a growing list of Nigerian companies and delegates, including NNPC, Seplat Energy, Oando Plc, Aradel Holding Plc, ND Western, Green Energy International, LEKOIL, Olaniwun Ajayi, and representatives of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).