FG seeks fresh investments in oil, gas sector

The Federal Government has reiterated its commitment to attracting more investments into Nigeria’s oil and gas sector to drive industrialisation and economic growth.

This is contained in a statement issued by Mr Michael Adande, spokesperson of Renaissance Africa Energy Company Limited.on Tuesday in Abuja.

According to the statement, Mrs Olu Verheijen,Special Adviser to the President on Energy, restated the commitment during a meeting with Mr Tony Attah, Manging Director of Renaissance Energy, in Abuja.

She said the President Bola Tinubu administration was focussed on reforms that create an enabling environment for investors and support national development targets.

Verheijen commended Renaissance Energy for its efforts in boosting oil and gas production since acquiring Shell’s onshore assets in the country earlier this year.

“Renaissance has so far recorded over 40 per cent increase in oil production within 150 days of finalising the acquisition,” he said.

She added that the government expects further drilling activities and new wells to sustain production growth.

“This administration remains committed to reforms that promote transparency, efficiency, and investor confidence in the energy sector,” she said.

In his remarks, Attah praised Verheijen for her role in implementing three Executive Orders that have transformed the oil and gas landscape.

He attributed the company’s success to the supportive environment created by the administration of President Bola Tinubu.

Attah acknowledged the government’s efforts in creating policies that encourage private sector participation and long-term investment.

“Renaissance Africa aims to become Africa’s leading energy company, promoting energy security and sustainable industrialisation,” he said.

He explained that the company’s internal reforms had improved work conditions and motivated staff, resulting in increased daily crude oil output.

Attah disclosed that Renaissance and its joint venture partners are now meeting contractual gas supply obligations to Nigeria LNG Limited.

“This marks the first time in more than five years that the company has fulfilled its gas supply commitments to NLNG,” he added.

According to him, the company’s strategy is yielding immediate results and positioning it for long-term growth and regional impact.

He assured that Renaissance remained committed to supporting Nigeria’s energy transition and contributing to national development goals.

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