TINUBU EXPLAINS NEW ORDERS TO REFORM NIGERIA’S OIL SECTOR

President Bola Tinubu has explained his decision to sign new executive orders aimed at strengthening Nigeria’s oil and gas industry and attracting more investment into the sector.

Tinubu said the orders were designed to address regulatory and operational challenges that have affected investment and production in the petroleum industry.

According to the President, creating a more predictable and competitive environment would help Nigeria attract fresh capital, increase oil and gas production, and generate greater value from its natural resources.

The new measures are also expected to support ongoing reforms under the Petroleum Industry Act and improve the efficiency of government agencies and operators across the sector.

Industry stakeholders said regulatory uncertainty and delays have historically affected investment decisions, making clearer policies important for long-term projects.

Tinubu said the government would continue to introduce measures that encourage investment while ensuring that the country benefits more from its oil and gas resources.

Analysts noted that increased investment could help improve production, develop new fields, expand gas infrastructure, and create jobs across the petroleum value chain.

They, however, stressed that effective implementation would be critical to achieving the objectives of the new orders.

Stakeholders also called for stronger collaboration between government agencies and private-sector operators to ensure that regulatory reforms translate into faster project development and improved production.

The President reaffirmed his administration’s commitment to creating a more investor-friendly petroleum sector while strengthening transparency, accountability, and efficiency.

He said the new orders were part of broader efforts to position Nigeria’s oil and gas industry for sustainable growth and greater contribution to the national economy.