In a landmark affirmation of Nigeria’s energy sector transformation, renowned energy governance scholar Prof. Josiah Danladi has revealed that upstream oil and gas reforms under President Bola Tinubu have generated a staggering N12.25 trillion in revenue over the past two years. The announcement was made during the Citizens Connect Conference held in Lagos, where stakeholders gathered to assess the impact of recent policy shifts in the petroleum industry.
Prof. Danladi described the reforms as “a bold recalibration of Nigeria’s upstream oil and gas landscape,” emphasizing that the results are not just fiscal but structural. “We are witnessing a rebirth of trust, transparency, and efficiency in a sector long plagued by opacity and underperformance,” he stated.
The reforms, initiated shortly after President Tinubu assumed office, focused on streamlining licensing procedures, enhancing regulatory oversight, and incentivizing private investment in exploration and production.
According to Prof. Danladi, the N12.25 trillion revenue figure reflects both direct earnings from crude oil sales and indirect gains from enhanced operational efficiencies and reduced leakages.
The administration’s efforts have also catalyzed broader energy sector growth, including expanded refining capacity and a renewed push toward renewable energy integration. Analysts suggest that if current momentum is sustained, Nigeria could reclaim its position as a leading energy powerhouse in Africa.
President Tinubu’s spokesperson praised the report, stating, “This is a testament to the President’s unwavering commitment to reforming Nigeria’s most vital economic sector. We are not just plugging holes—we are building a future.”
Industry leaders and civil society groups have echoed the sentiment, calling for continued vigilance and stakeholder engagement to ensure the reforms remain people-centered and environmentally responsible.