CAPE TOWN, South Africa, June 17, 2025/APO Group/ –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.