Nigeria is set to finalize investment decisions on two major deepwater exploration projects by mid-2025, as announced by Olu Verheijen, Special Adviser on Energy to President Bola Tinubu.
Speaking at the African Energy Week in Cape Town, South Africa, Verheijen highlighted the progress made in unlocking over $1 billion in energy investments across various sectors.
She revealed that the upcoming projects, including a multibillion-dollar deepwater initiative, would be the first of their kind in over a decade, signaling a new era for Nigeria’s energy sector.
Verheijen emphasized Nigeria’s vision of becoming a leading global energy producer, both in fossil fuels and renewables, driven by innovative and bold strategies.
“We see abundant opportunities ahead,” she stated, adding that Nigeria is committed to leaving a lasting legacy in the energy industry.
Over the past year, Verheijen and her team have focused on streamlining regulatory frameworks, introducing reforms to cut operational costs, and implementing fiscal incentives to attract investments in non-associated gas and deep offshore projects.
These efforts come on the heels of the Petroleum Industry Act, which was passed in 2021 after two decades of delays, aiming to transform Nigeria’s oil and gas sector.
Addressing the theme, “The Future of Energy: Shaping the Workforce of Tomorrow,” Verheijen emphasized the need for a dynamic energy workforce to meet Africa’s growing energy demands.
She stressed the importance of tapping into new talent pools, especially women and young people, to bring fresh perspectives and innovative solutions to longstanding challenges.
“As Africans, we are at a crucial point where energy access will define our future,” she noted, highlighting the paradox of Africa’s vast resources alongside the fact that over 75% of its population lacks adequate energy access.
She called for the continent to harness its energy resources to drive industrialization and development, ensuring energy becomes a tool for growth rather than a constraint.
Verheijen concluded that the path forward requires a blend of human energy, diverse talent, and adaptability to balance energy security, affordability, and sustainability across Africa.
