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Energy must power Factories, illuminate Homes, fuel Innovation, says Tinubu

President Bola Tinubu has restated Nigeria’s readiness to collaborate with African nations, global partners and the private sector to deliver cleaner, affordable, inclusive, and more secure energy.

Tinubu, represented by the Vice-President Kashim Shettima, gave the assurance on Tuesday at the Ninth Edition of the Nigeria International Energy Summit, held at the State House Conference Hall, Abuja.

He said energy played a critical role as the invisible force holding the modern world together, as well as the quiet architecture of balance among nations, the unseen hand that steadies economies and sustains societies.

The president observed that energy remained central to peace, prosperity, and global stability.

He stated that Nigeria was focusing heavily on utilising its vast gas reserves as a transition fuel and expanding renewable energy capacity.

“Energy must unite communities, stabilise economies, and secure futures. It must power factories, illuminate homes, fuel innovation, and build trust between government, investors, and citizens.

“Nigeria stands ready to collaborate with Africa, global partners, and the private sector to deliver energy that is secure, affordable, cleaner, and inclusive,” he declared.

Tinubu recalled that even though his administration inherited an energy sector that was rich in potential in 2023, the sector was “constrained by inefficiencies, uncertainty, and prolonged underinvestment.

”We set to work without fanfare, guided by the clear understanding that energy cannot be treated simply as an economic commodity if stability is our goal.

”Energy is a catalyst for national security, industrial growth, social inclusion, and regional cooperation,” he stated.

Tinubu assured that his government was fully committed to “building an energy system that delivers reliability, transparency, sustainability, and shared prosperity.”

He said that his administration sustained and deepened the full implementation of the Petroleum Industry Act.

He added that his government was consolidating its role as the live wire of sector reform and strengthened regulatory institutions to ensure clarity of roles, transparency, and investor confidence.

Tinubu added, ”Under our watch, Nigeria’s upstream activity recorded a historic rebound. Rig counts rose from eight rigs in 2021 to 69 rigs by late 2025, reflecting renewed exploration and drilling momentum.

“The sector secured Final Investment Decisions exceeding eight billion United States dollars, including major offshore gas developments involving global energy companies.

”Foreign direct investment into the oil and gas subsector rebounded strongly, driven by regulatory certainty, fiscal reforms, and improved operating conditions.”

Tinubu said crude oil theft, which had been a major constraint on production and revenue, declined significantly due to enhanced security coordination, surveillance, and regulatory enforcement.

He added that the efforts paid off, as they restored operational stability and improved Nigeria’s production reliability in international markets.

”Early reforms, most notably fuel subsidy removal and foreign exchange liberalization, repositioned the sector’s economics, improved market efficiency, and enhanced long-term investment attractiveness.

”While these measures required national sacrifice, they laid the foundation for sustainability, fiscal resilience, and investor confidence.

”Industry stakeholders and independent experts have described these reforms as transformational, aligning Nigeria’s energy sector with global best practices,” he added.

The Nigerian leader implored the participants “to engage constructively, invest confidently, and partner purposefully with Nigeria.”

Earlier, Gambian President, Adama Barrow, observed that Nigeria’s policies had implications far beyond its borders.

He said that working together through strategic partnerships was key to regional solutions and energy security.

Also, the President of the Republic of Equatorial Guinea, Teodoro Mbasogo, maintained that Africa must cease to be merely an exporter of raw materials and focus on processing them for the betterment of future generations.

Credit NAN: Texts excluding Headline