₦airaland Forum

• Stakeholders accuse developed nations of obstructing investment into Nigeria

• FG banks on tax reform, AEB, insists oil production hit 1.8mbpd

• OPEC, NNPC, others seek more investment to oil, say oil remains pivotal

Belgium has raised concerns over the potential loss of a significant portion of its petroleum products exports to Nigeria as President Bola Tinubu, yesterday, in Abuja, intensified efforts to attract energy investors and expand domestic refining capacity.

This comes as stakeholders at the eighth Nigeria International Energy Summit (NIES) in Abuja accused the government of developed nations of frustrating oil and gas investment in Nigeria and other African countries, stressing that Africans must look inward, or risk stranded oil and gas reserves.

Tinubu, who was represented by the Minister of State for Finance, Dr Doris Uzoka-Anite, said tax reforms in the oil sector, as well as streamlining of regulatory and executive action, pushed investment into Nigeria and moved oil production to about 1.8 million barrels per day mbpd).

Asking investors to look in the way of oil exploration, critical minerals, hydrogen, power generation, domestic gas utilisation and oil refining, Tinubu said Presidential Executive Order on Oil and Gas Sector Reforms streamlined processes, fast-tracked licensing rounds and encouraged indigenous participation for local content development

Belgian Ambassador to Nigeria, Pieter Leenknegt, acknowledged that Belgium supplies 40 per cent of Nigeria’s European refined oil imports, stressing that as Nigeria’s refining capacity grows, the reliance is expected to decline.

According to him, while the country supports the shift, it is a challenge to its trade relations.

Leenknegt noted that industrialising African economies solely on renewables might not be realistic, adding that “transition fuels like gas remain crucial”.

While stakeholders at the summit accused developed nations of obstructing investments in Nigeria’s energy sector under the guise of climate policies, the ambassador cited Namibia’s green hydrogen project, co-financed by Belgium, Denmark and Germany as an example of Europe’s continued commitment to Africa’s energy development.

At the summit, the Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, emphasised Nigeria’s role as Africa’s largest oil and gas producer and its growing influence in the global energy market.

“Oil will remain a critical component of the global energy mix, contributing over 39 per cent of global demand in 2025,” Kyari said.

Nigeria is banking on tax reforms and investment incentives to drive its energy agenda, as Kyari said: “Investors now see Nigeria as a stable fiscal environment that promises long-term profitability.”

He added that gas infrastructure development was crucial for Nigeria’s transition to a trillion-dollar economy, with the NNPCL leading efforts to supply domestic industries and power plants.

Secretary-General of African Petroleum Producers’ Organisation (APPO), Dr Omar Ibrahim, said Africa must prioritise energy security and not rely solely on external funding.

“The African Energy Bank marks a fundamental shift. Governments must protect investments in the energy sector. Developed nations provide subsidies for critical industries, Africa must do the same,” Ibrahim said.

President and Chairman of the Board of Directors of the African Export–Import Bank, Benedict Oramah, stated that the bank had already disbursed nearly $3 billion for Nigerian energy projects and remains committed to financing sustainable investments.

Represented by Senior Manager, Project and Asset-Based Finance at the bank, Ayoola Mubarak, the president said the bank remained committed to structuring bankable deals that align with regulatory frameworks and economic realities to create a sustainable investment model that ensures continued financing for the energy sector

Also speaking at the summit with the theme, ‘Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential’, the Secretary General of Organisation of Petroleum Exporting Countries (OPEC), Haitham al-Ghais, said Africa must secure its energy future or risk being left behind in the global energy race.

“For 65 years, OPEC provided stability, ensuring that energy remains affordable and accessible. But today, we are at a crossroads. A misguided narrative discouraging oil and gas investment has hindered Africa’s progress,” he said.

Al-Ghais pointed to the ongoing push by developed nations to phase out fossil fuels, a transition that, while inevitable, must be gradual and inclusive.

Special Adviser to the President on Energy, Olu Verheijen, said Nigeria secured over $1.2 billion in gas sector investments within a year, driven by targeted reforms and a data-driven approach to energy development.

She noted that Nigeria’s focus on improving the commercial viability of its non-associated gas reserves, which is nearly 75 per cent of its remaining reserves, was yielding results.

In 2024 alone, Verheijen explained, over $700 million flowed into the gas sector, boosting portfolio values and returns by about 30 per cent along with another $600 million deal between Total and NNPCL.

“Capital follows what makes financial sense. We designed investor-friendly solutions to ensure Nigeria remains attractive, whether to independent financiers or multinational corporations,” she added.

https://guardian.ng/news/belgium-fears-losing-40-petrol-export-to-nigeria-as-tinubu-woos-investors/


Nlfpmod

The scam in this energy sector will continue from generations to generations

No be only fears.

Rubbish news

Lol
Clear road

Islie:
• Stakeholders accuse developed nations of obstructing investment into Nigeria

• FG banks on tax reform, AEB, insists oil production hit 1.8mbpd

• OPEC, NNPC, others seek more investment to oil, say oil remains pivotal




https://guardian.ng/news/belgium-fears-losing-40-petrol-export-to-nigeria-as-tinubu-woos-investors/


Nlfpmod

Well, nothing lasts forever.

Dangote have take over

Tinubu media news and rubbish propaganda

Fear ko , Fierce ni

Okay o

Sore losers pooing in their panties.....

Nigeria would be great.

Plenty people hand dey for this matter.

But Dangote is working but Tinubu keeps importing from Cyprus, from his family's plant. Don't believe this news.

Corrupt Cabal Connect.
More fear please.

Dangote has enough fuel for the nation.

We have already seen end of scarcity .
We can only be talking about price now.
Which BUA and other smaller local refineries will sort.

If they like they should not import, fuel go dey.
The international barrel pricing should normalize things

If u keep up with the financial market, u will just laff wen u read some things.

LagosOrigin:
Tinubu media news and rubbish propaganda

Fear ko , Fierce ni

I am happy, your bitter will remain for long time, because good news is going to continue in Nigeria. And Nigerians will witness greatness in all there undertaking. Nigerians will Rejoice.

We have refineries we dont need exports from French colonies.

This is why the West and China don't want Africa to become industrialized.

Let's keep deceiving ourselves.

Belgium plans to generate 70% of it's electricity by 2030 from renewable energy such as dam, solar,wind etc due to global warming.

Europe is even phasing out fuel powered cars very soon. Today out of every 3 cars sold in Norway 2 are electric.

From 2025, Almost all brand new Toyota Sedan cars will be Hybrid.

I said it before when these fools attacked GEJ out of office.
Nigerians are not smart.

Tinubu reforms are good, although he messed up by not joining hands with Buhari. But waited till it was this bad. Same thing Obi is doing.

What’s wrong with all hands on deck?
That’s why I appreciate WIke.

Don’t lets any greedy northerner deceive you! Tinubu administration & SP & Wike is one of the best post GEJ. Reforms. Laws, bills signed.

Let’s encourage them.
Let’s get more good bills signed.


All hands on deck.

Bwanasaraw:
Let's keep deceiving ourselves.

Belgium plans to generate 70% of it's electricity by 2030 from renewable energy such as dam, solar,wind etc due to global warming.

Europe is even phasing out fuel powered cars very soon. Today out of every 3 cars sold in Norway 2 are electric.

From 2025, Almost all brand new Toyota Sedan cars will be Hybrid.

leep thinking like a goat and as a typical Igbo.

In Uk, USA. Most power is generated by LGA. What is your state n LGA doing?? You waiting for FG.

Common transmission in your village Is bad what are they doing??

FG signed a bill for state n local control.

National grid is there to offset and support while distributing. FG is pushing lets states wake up.


Is Anambra not generating now? Is Akwa Ibom not generating? Una think only FG will take care of 200m million yet state n LGA Dey collect money.

Na una be Nigeria problem.
And I repeat 80% of Nigerians don’t know anything g.

Looooooool.

LagosOrigin:
Tinubu media news and rubbish propaganda

Fear ko , Fierce ni

They wouldn't post another Nigerian National Petroleum Company (NNPC) failure in arbitration court.

Nigeria’s LNG loses $380m in London court over 19 undelivered cargoes

A London court has ruled that Nigeria LNG Limited, the country’s biggest gas exporter must pay $380 million to global commodity traders Vitol and Glencore over undelivered cargoes.

The ruling, announced on February 25, 2025, stems from a long-standing dispute involving contractual obligations and supply disruptions.

According to the report by Reuters, the London Court of International Arbitration found Nigeria LNG, a joint venture between the Nigerian National Petroleum Company (NNPC), Shell, TotalEnergies, and Eni, in breach of contract for failing to deliver LNG cargoes to Vitol and Glencore.

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johnjay4u2u:
Dangote has enough fuel for the nation.

We have already seen end of scarcity .
We can only be talking about price now.
Which BUA and other smaller local refineries will sort.

If they like they should not import, fuel go dey.
The international barrel pricing should normalize things

So BUA and other small refineries are now the policymakers in CBN?

Tinubu should attend a good leadership Training programme.
Stop corrupt practices in the government, and you witness economic transformation.

The same Belgium which killed Patrice Lumumba and destabilized Guinea for nearly a century? Whoever typed this report is clouded by white powder.