Nigeria’S President, Bola Tinubu, has initiated a programme to reposition the country as a top-tier destination for energy investment.

In May 2025, he signed an executive order on oil and gas reforms, aiming to overhaul project delivery frameworks and reduce costs across the industry. The reforms aim to make Nigeria’s operating environment globally competitive and unlock billions of dollars in new investments.

In the past year, Nigeria has secured over $8 billion in deepwater oil and gas final investment decisions, signaling a renewed appetite among international investors.

ExxonMobil has committed $1.5 billion to new deepwater field developments, while Shell is strengthening its position in deepwater and integrated gas. Petrobras is also interested in returning to deepwater exploration in Nigeria. Nigeria is also advancing its gas monetisation strategy and reviving refining capacity to enhance energy security and drive industrialisation. The ongoing operational ramp-up of the 650,000-bpd Dangote refinery is set to begin nationwide distribution of petrol and diesel later this year.