Tinubu’s reforms restoring trust in oil industry, group insists
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Shell is strengthening its stake, Agip is showing commitment, and the regulator is protecting government interests. This progress needs continuity in leadership,” he said.
Femi Fabunmi
A civil society group, the Alliance for Energy Stability and Economic Growth (AESEG), has urged Nigerians to support President Bola Tinubu’s re-election in 2027.
The group said Tinubu’s leadership has restored investor confidence in Nigeria’s oil and gas sector.
In a statement by its president, Dr. Suleiman Garba Danladi, the group pointed to the recent deal where Shell Nigeria Exploration and Production Company (SNEPco) and Nigerian Agip Exploration Limited (NAE) bought TotalEnergies’ 12.5% stake in Oil Mining Lease (OML) 118.
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Shell paid $408 million for 10% while Agip paid $102 million for 2.5%.
Dr. Danladi said these transactions show growing confidence in Nigeria’s oil sector and praised Tinubu’s reforms.
“President Tinubu’s reforms are bringing results.
Shell is strengthening its stake, Agip is showing commitment, and the regulator is protecting government interests. This progress needs continuity in leadership,” he said.
The group also noted that last week, the NUPRC cancelled an $860 million deal involving TotalEnergies and Chappal Energies because of failure to meet financial obligations.
AESEG said this shows that only serious investors are now welcomed, which will boost revenue, jobs, and energy security.
Dr. Danladi highlighted the importance of the Bonga oilfield, Nigeria’s first deepwater project, which contributes greatly to crude oil output and foreign exchange.
He said keeping such assets in experienced hands will help Nigeria move towards producing 2 million barrels of oil per day again.
According to AESEG, Nigeria’s oil sector is at a “delicate stage” where oil majors are leaving onshore but investing more in deepwater.
The group warned that changing leadership in 2027 could hurt investor confidence.
“The oil majors are watching closely. They like the current reforms but also value stability. A change in 2027 could disrupt the progress,” Dr. Danladi added.
AESEG stressed that Nigeria’s future growth depends on consistency, urging citizens to support policies and leadership that keep investor confidence strong.
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