The administration of President Bola Ahmed Tinubu has restated its commitment to driving reforms in the energy sector as part of efforts to attract more funds and investments into Nigeria’s oil and gas industry to boost industrialization.
The Special Adviser to the President on Energy, Mrs. Olu Verheijen, disclosed this in Abuja while receiving the Managing Director and Chief Executive Officer of Renaissance Africa Energy Company Limited, Mr. Tony Attah.
“This is why we continue to work on investment-enabling reforms with a bid to achieving national targets. I congratulate Renaissance Africa Energy Company Limited because you have done a good job so far in increasing oil and gas production. Understandably, we continue to look forward to the opening of new wells and new drilling activities,” she said.
The Special Adviser commended Renaissance Africa’s achievement of more than 40% oil production growth within 150 days of completing its landmark acquisition in March 2025, when Renaissance Africa Energy Holdings Company Limited took over the shares of Shell Petroleum Company Limited in The Shell Petroleum Development Company Limited (SPDC). Following the transaction, SPDC was rebranded as Renaissance Africa Energy Company Limited, which retained its role as the operator of the joint venture.
Attah, in his remarks, acknowledged the government’s reforms. “On our part, we must also commend your office for the three Executive Orders that have brought revolutionary changes, especially to the Oil and Gas sector. Our company, Renaissance Africa’s success since came onboard is because we are riding on that enabling environment that the government of President Bola Ahmed Tinubu has provided. I particularly commended the Special Adviser on Energy and your team for your tenacity in following this required path.”
He added that the supportive environment had encouraged the company to pursue its vision to become Africa’s leading energy company while promoting energy security and industrialization sustainably. “This enabling environment that you are creating has further emboldened us in our drive to achieve our vision to be Africa’s leading energy company enabling energy security and industrialization in a sustainable manner. We are glad too that we are seeing immediate results from our strategy to improve work processes and conditions which have, in turn, galvanized our employees, improved daily crude oil production by about 40%, and returned Renaissance Africa and the joint venture to a position where we are now fulfilling our contractual gas supply quantities to the NLNG Limited (Nigeria Liquefied Natural Gas) – for the first time in over 5 years.”
