President Tinubu’s Administration Advances Transparent Incentives for LNG and CNG Growth in Nigeria
At the Oil Trading and Logistics (OTL) Africa Downstream Energy Week, Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, highlighted transformative strides in Nigeria’s oil and gas sector under Tinubu’s administration. Speaking through representative Eriye Onagoruwa, Verheijen noted that while Nigeria’s oil and gas sector has been active for over 80 years, it has only captured around 4% market share since 2016.
President Tinubu’s government has focused on creating an efficient and transparent environment with strategic incentives to promote Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and electric vehicles. This includes over $75 million invested by the Federal Government to roll out CNG systems that encourage cleaner energy alternatives for Nigerians.
“We are committed to providing affordable, cleaner cooking options,” Verheijen stated, emphasizing the administration’s support for collaboration in enhancing refinery performance and promoting industry alliances to revamp Nigeria’s oil and gas landscape.
“This dialogue is essential as we work to reshape the future of Nigeria’s energy sector,” she added, underscoring the government’s drive for sustainable energy solutions and industry-wide cooperation.
