FG seeks fresh investments in oil, gas sector

The Federal Government has reiterated its commitment to attracting more investments into Nigeria’s oil and gas sector as a key driver of industrialisation and economic growth.

A statement issued on Tuesday by Mr Michael Adande, spokesperson of Renaissance Africa Energy Company Limited, highlighted that Mrs Olu Verheijen, Special Adviser to the President on Energy, emphasised the government’s focus on reforms that create an enabling environment for investors and support national development goals during a meeting with Mr Tony Attah, Managing Director of Renaissance Energy, in Abuja.

Verheijen commended Renaissance Energy for significantly boosting oil and gas production since acquiring Shell’s onshore assets in Nigeria earlier this year.

“Renaissance has recorded over a 40 per cent increase in oil production within 150 days of completing the acquisition,” she noted, adding that further drilling and new wells are expected to sustain production growth.

She stressed that the administration remains committed to reforms promoting transparency, efficiency, and investor confidence in the energy sector.

In his remarks, Attah praised Verheijen for her role in implementing three Executive Orders that have transformed the oil and gas landscape. He attributed the company’s success to the supportive policies of President Bola Tinubu’s administration, which encourage private sector participation and long-term investment.

“Renaissance Africa aims to become Africa’s leading energy company, promoting energy security and sustainable industrialisation,” Attah said.

He noted that internal reforms had improved work conditions and staff motivation, resulting in increased daily crude oil output.

Attah also disclosed that Renaissance and its joint venture partners are now meeting contractual gas supply obligations to Nigeria LNG Limited, marking the first time in more than five years that the company has fulfilled these commitments.

He concluded by stating that the company’s strategic initiatives are delivering immediate results while positioning Renaissance for long-term growth and regional impact. The company remains committed to supporting Nigeria’s energy transition and contributing to national development objectives.