Nigeria's President Tinubu to Bring Bold Energy Reforms to African Energy Week (AEW) 2025 Stage
African Energy Week (AEW) 2025: Invest in African Energies is proud to announce that Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, will address delegates at Africa's premier energy event in Cape Town. President Tinubu's participation comes as Nigeria undergoes one of the most ambitious reform drives in its oil, gas and broader energy sectors – a drive that is reshaping the country's investment climate and unlocking multi-billion-dollar opportunities across the value chain.
Since assuming office, President Tinubu has spearheaded a wide-ranging program to reposition Nigeria as a top-tier destination for energy investment. In May 2025, he signed an Executive Order on Oil&Gas Reforms, aimed at overhauling project delivery frameworks and significantly reducing costs across the industry. The Order introduces streamlined contracting processes, tax incentives and the removal of regulatory and local content compliance bottlenecks, with a target of cutting upstream project costs by up to 40%. Such reforms are designed 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, for example, has committed $1.5 billion to new deepwater field developments. Shell is also strengthening its position in deepwater and integrated gas – recently increasing its stake in OML 118, which includes the prolific deepwater Bonga field – while Chevron is expanding operations at the Agbami field, one of Nigeria's largest deepwater discoveries.
Meanwhile, Petrobras has declared its interest in returning to deepwater exploration in Nigeria, seeking frontier acreage as a result of improved regulatory clarity and investor-friendly reforms. The country has also unveiled major new initiatives to promote local content and industrial growth, with multi-billion-dollar investments directed at building domestic capacity in fabrication, engineering and services. This includes the 'Naira for Crude' initiative, which aims to promote local refining, enhance energy security and reduce reliance on foreign currency in the domestic oil market.
Beyond upstream developments, Nigeria is advancing its gas monetization strategy and reviving refining capacity to enhance energy security and drive industrialization. The ongoing operational ramp-up of the 650,000-bpd Dangote refinery – the largest on the continent – is set to begin nationwide distribution of petrol and diesel later this year. The refinery, along with new investments in petrochemical plants, storage facilities and pipeline infrastructure, is expected to help end Nigeria's decades-long reliance on gasoline imports, a trade valued at $17 billion. The U.S., European and global investor community is increasingly engaging with Nigeria as a strategic partner for energy supply diversification and clean energy integration, further solidifying the country's position as a leading force in Africa's energy landscape.
'Nigeria under President Tinubu is showing the world how decisive policy reforms can directly translate into investor confidence and tangible project commitments,' said NJ Ayuk, Executive Chairman of the African Energy Chamber. 'What's happening in Nigeria today is a case study for other African producers: it demonstrates that by cutting red tape, streamlining processes and providing fiscal certainty, countries can attract capital on a large scale while creating real value for their people. We are honored to welcome President Tinubu to AEW 2025 to share this important success story.'
President Tinubu's address at AEW 2025: Invest in African Energies will provide a unique opportunity for African and global stakeholders to gain insights into Nigeria's evolving oil and gas sector, the government's strategy for long-term energy security and the country's vision for sustainable industrial development. His leadership is setting a benchmark for how resource-rich nations can balance competitiveness, local value creation and inclusive growth.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Distributed by APO Group on behalf of African Energy Chamber.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
an hour ago
- The National
‘UAE stands for dialogue, for de-escalation and diplomacy,' Dr Sultan Al Jaber says
Dr Sultan Al Jaber, XRG's executive chairman and Adnoc's managing director and group chief executive, delivered a keynote address on Tuesday at the Atlantic Council Global Energy Forum in Washington
Zawya
5 hours ago
- Zawya
Africa Finance Corporation (AFC), United Nations Industrial Development Organization (UNIDO) and partners enter new alliance leveraging Islamic and Arab finance for economic transformation
Today, Africa Finance Corporation (AFC) ( UNIDO, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Union of Arab Banks (UAB), formalized new strategic partnerships under the Islamic and Arab Finance for Economic Transformation in Africa, the Arab Region and Beyond (IFETAA) Programme. Access to finance remains one of the most significant barriers to SME growth and economic transformation, particularly in Africa, the Middle East and South Asia. Only one in five African firms has access to credit, and those that do often face prohibitively high interest rates averaging 25 percent, compared to just 5 percent in Europe. Islamic finance, with over US$4 trillion in assets, offers a largely untapped opportunity to address this gap by directing capital stored in monetary markets into the real economy. IFETAA represents a new alliance that will drive capital and capacity towards MSME development, resilience and growth across low- and lower middle-income countries. The signing ceremonies of the 3 Memorandum of Understanding (MoU) took place ahead of a high-level roundtable at the Hofburg Palace in Vienna, held on the margins of the OPEC Fund Development Forum, and marked the formalization of the programme. 'As traditional development funding continues to decline, Islamic and Arab financial institutions are emerging as key partners in driving industrialization and sustainable development', said UNIDO Director General Gerd Müller. 'Through this programme, we are building a powerful new alliance to support small and medium-sized businesses, increase productivity and resilience, and accelerate economic transformation in developing countries'. 'The IFETAA Programme will unlock urgently needed capital for Africa's economic transformation and AFC is proud to bring its unique expertise in both conventional and Islamic finance to mobilise funding at scale,' said Banji Fehintola, Board Member and Head of Financial Services at AFC. 'As an issuer, guarantor, and investor, we are committed to delivering innovative, Shariah-compliant solutions that drive inclusive and resilient economic growth, whilst contributing to strengthening the south-south cooperation required to advance our shared development goals'. H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of AAOIFI and the International Center for Entrepreneurship and Innovation announced that ' AAOIFI is proud to contribute to this transformative partnership, which aligns Islamic finance with global development priorities and encourages Islamic financial institutions to voluntarily dedicate at least 20% of their financing – over US$1 trillion – to MSME development. We will work on developing a Shariah-compliant finance programme enriched with technical assistance, regulatory support, and capacity building. IFETAA will also leverage UNIDO's globally recognized Enterprise Development and Investment Promotion model (EDIP)'. By integrating Islamic finance with proven entrepreneurship and business counseling interventions, IFETAA will empower MSMEs to become bankable, resilient, and key drivers of inclusive economic growth. Dr. Wissam Fattouh, Secretary General of the Union of Arab Banks, stated: 'IFETAA is more than a programme – it is a call to action. The Union of Arab Banks is proud to unite Islamic and Arab financial power to serve sustainable development and economic sovereignty. We are mobilizing capital not just to fund growth, but to shape the future of our region. This is about empowering MSMEs, restoring trust in financial systems, and building resilient, inclusive economies'. IFETAA is a direct outcome of the commitments made at UNIDO's A World Without Hunger conference in Addis Ababa in 2024. There, AAOIFI pledged to mobilize 20 percent of Islamic Financial Institutions' loans and advancements towards MSME development, while UAB reaffirmed its commitment to channel US$1 trillion from its member banks towards the Sustainable Development Goals (SDGs). AFC, a close partner to UNIDO, expressed its support through its financial mechanisms and expertise. IFETAA will facilitate access to finance by developing a pipeline of bankable MSME projects, establish financial and non-financial de-risking mechanisms, and support host governments in strengthening regulatory frameworks to expand Islamic and conventional bank lending. UNIDO has committed US$500,000 to support the preparation of the IFETAA programme and its initial implementation, which is co-led by the UNIDO Task Force on Islamic and Arab Financing and UNIDO's Investment and Technology Promotion Office in Bahrain. Each of the partner institutions brings unique strengths to the programme. AAOIFI, headquartered in Bahrain, is the world's leading standard-setting body for Islamic finance and plays a critical role in ensuring Shariah compliance and supporting regulators and financial institutions globally. Beirut-based UAB represents over 300 Arab banks and financial institutions while serving as a regional platform for aligning Arab banking practices with global trends, including Islamic finance, ESG, and digital transformation. AFC is a pan-African multilateral financial institution specializing in infrastructure development. It has been expanding its use of Islamic finance instruments, recently closing a US$400 million Shariah-compliant Commodity Murabaha facility. AFC made history in 2017 by issuing a US$230 million Sukuk, the first-ever by an African supranational institution. Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Arabian Business
5 hours ago
- Arabian Business
Dubai office sales hit $762m in Q1 as off-plan transactions surge 741%
Dubai's office real estate market hit record highs in Q1 2025, with investors spending AED2.8bn ($762m) across 933 transactions, according to the latest market intelligence from Cavendish Maxwell. The performance marks an 83 per cent year-on-year increase in sales value and a 24 per cent rise in transaction volume, cementing the city's position as one of the world's most dynamic business destinations. While ready office units continue to dominate the sales market, off-plan transaction values rose nearly eight-fold, up 741 per cent to AED800m ($218m), compared to AED100m ($27m) in the same quarter last year. Dubai office market Off-plan transactions accounted for 18 per cent of total sales, up from just 8 per cent in Q1 2024. Vidhi Shah, Director, Head of Commercial Valuation at Cavendish Maxwell, said: 'These record-breaking figures speak for themselves. Dubai continues to enhance its position as a global business hub and a magnet for businesses large and small. £The momentum is real: Q1 2025 saw nearly 40 per cent more foreign company registrations – including multinationals and SMEs – compared to the same time last year, reflecting ever-growing investor confidence and creating unprecedented demand for office space. 'The surge in off-plan deals can be attributed to buyer trust in upcoming developments, competitive launch prices, flexible payment plans and expectations of long-term capital appreciation. With limited existing supply and rising rental costs, a growing number of tenants are opting to buy as a strategic, long-term cost-saving measure. 'Ready offices still account for the majority of sales, but it is clear that off-plan properties are very much in demand, and we expect this trend to continue throughout 2025 and beyond.' Office sales prices increased by 24.5 per cent year-on-year and by 6.5 per cent quarter-on-quarter, with the average price reaching AED1,650 ($449) per square foot by March 2025. Rental rates followed a similar trend, rising 24 per cent annually and 6.7 per cent compared to Q4 2024, with average office rents climbing to AED160 ($43.5) per square foot. Downtown Dubai led the market in annual growth with prices rising by almost 40 per cent, followed closely by DIFC (39 per cent) and Barsha Heights (38 per cent). Limited availability of Grade A space has pushed prices higher across lower-tier office stock, with demand spilling over into B and C grade inventory. Business Bay topped the chart for transaction volume in Q1 2025, recording 316 deals, followed by Jumeirah Lakes Towers (222), Motor City (130), Barsha Heights (88), and Dubai Silicon Oasis (41). In terms of size, offices between 1,000 and 2,000sq ft were the most in demand, accounting for 48 per cent of all sales. Smaller units under 1,000sq ft made up 40 per cent, while only 2 per cent of transactions involved spaces larger than 5,000sq ft. Dubai's total office inventory reached 9.3 million square metres of gross leasable area (GLA) as of Q1 2025. An additional 215,000 sq m is expected to enter the market before the end of the year, with another 181,000 sq m scheduled for delivery in 2026. Much of the upcoming stock is located in core business districts and classified as Grade A, potentially easing supply constraints over the next two years. Vidhi Shah added: 'Much of the new supply is concentrated in core business districts, with a significant proportion in the A-grade category. 'With a strong development pipeline over the next three years, we expect the current supply-demand imbalance to narrow, bringing some relief to tenants and easing upward pressure on prices.'
