Special Adviser to President Tinubu on Energy, Mrs. Olu Verheijen, disclosed that investment worth $13.5 billion was expected in the country’s energy sector within the next 12 months.
She said her engagements with the stakeholders had shown that there were massive investment opportunities for the sector estimated at $55.2 billion opportunities by 2030.
Verheijen said the administration of Tinubu, in line with its “Renewed Hope Agenda”, remained committed to improving the business and investment climate in the country, including the energy sector.
As she had expressed at other stakeholder engagements in the sector, Verheijen said the president was fully committed to the development of the energy sector, and was actively exploring all areas to improve revenue and the economy, in general.
She maintained that the oil and gas sector remained critical in that regard, despite current production levels falling significantly short of the country’s potential.
Verheijen stated, “My office has since started work on key areas of reform to spur the growth of the energy sector, and which would also positively impact on the livelihood of the average Nigerian and small businesses.
“Recently, the president approved the Import Duty Waiver aimed at increasing the utilisation and supply of gas in the domestic market. This waiver covers the importation of all equipment related to Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG), as well as machinery, equipment and spare parts into the Nigerian market for the utilisation of Nigerian gas.”
