Bola Ahmed Tinubu has approved the establishment of a Presidential Petroleum Reform and Value Optimisation Taskforce to drive the next phase of structural reforms in Nigeria’s petroleum sector.
In a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Taskforce will design and sequence reforms aimed at strengthening the sector, attracting investment and maximising value from Nigeria’s petroleum resources.
The statement says Mr. Fola Adeola, co-founder of Guaranty Trust Bank and founder of the Fate Foundation, will chair the Taskforce.
Other members include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella, while Mofoluwasho Fadayomi will serve as Secretary.
According to the statement, the time-bound technical body will develop execution-ready reform blueprints, including an implementation toolkit for structural fixes in the sector, a capital and liquidity acceleration plan aimed at unlocking between five and ten billion dollars, and a ten-year National Energy Transformation Strategy.
President Tinubu has directed all relevant ministries, departments, agencies and regulators to provide full technical support to the Taskforce and align existing reform initiatives with its mandate.
Bello Wakili
