… President Tinubu has Created a Transformed Environment for Efficiency with Transparent Incentives to Promote LNG, CNG
…Lagos State Governor urges stakeholders to establish frameworks that encourage investment, streamline regulations ensure energy infrastructure.
The Federal Government said it has invested over $75 million in launching Compressed Natural Gas ( CNG) systems to encourage cleaner energy usage in the country.
It also declared that it is determined to provide a cleaner cooking option which comes with affordability.
Just as it also stated that Nigeria has the capacity to make refineries perform better through collaboration and alliances which are critical to change the outlook of the industry.
Speaking at the opening ceremony of the Oil Trading and Logistics, Africa Downstream Energy Week, the Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, expressed the view that Nigeria boasts an oil and gas sector in operations for over 80 years, but the country has only captured about 4% since 2016.
The Special Adviser who was represented by Eriye Onagoruwa at the event, said President Tinubu’s administration has created a more transformed environment for efficiency and transparency with incentives to promote LNG and CNG equipment, as well as electrical vehicles.
She said stakeholders must continue to have conversations towards reshaping our oil and gas sector.”
Meanwhile, the Lagos State Governor, Babajide Sanwo Olu has acknowledged the fact that event brings together the continent’s brightest minds and committed stakeholders to shape the future of Africa’s downstream energy landscape.
He said the theme for this gathering, “Alliances for Growth,” is timely and vital. Our journey toward a sustainable, inclusive energy future requires us to embrace partnerships that drive innovative solutions, empower industries, and enhance the quality of life for all Africans.”
The Governor who was represented by the Commissioner of Energy Resources, Biodun Ogunleye, stated that the continent is in a defining moment in Africa’s energy evolution, and Lagos State, as Nigeria’s economic powerhouse, is deeply aware of the critical role energy plays in shaping collective future. The state government is committed to ensuring that Lagos remains a leader in energy innovation, investment, and sustainability. “We are not just participants in this journey—we are setting the pace for energy reform and economic growth. Through concerted efforts, Lagos has established itself as an environment that welcomes investment, encourages technological advancement, and champions sustainable practices.”
Across Africa, the potential for energy sector transformation is immense, yet unlocking this potential requires the right environment—one that promotes growth, fosters innovation, and includes every voice. Governments have a significant role to play.
The Governor urged stakeholders to establish frameworks that encourage investment, streamline regulations, and ensure energy infrastructure becomes a foundation for broader development. Lagos State is committed to creating precisely such an environment, one that not only attracts investment but fosters partnerships that benefit our communities and economies.
The state is leading by example and believes in the power of partnership. “Our administration has worked tirelessly to support energy initiatives that make energy more accessible, affordable, and sustainable. Whether through public-private collaborations or international partnerships, Lagos has become a model of resilience and innovation in the sector. We are focused on creating a resilient, forward-thinking energy landscape, from renewables to cleaner fuels, to build a greener, cleaner future for all.”
Governor Sanwo-Olu maintained that abundant natural resources, especially gas reserves, along with emerging renewable energy potential, present unique opportunities for investment.
“An energy transition is not simply about replacing one source with another; it’s about creating an entire ecosystem that encompasses all elements—from exploration and production to storage, distribution, and retail. Our goal is to empower every stakeholder by building policies that reduce costs, minimize bottlenecks, and safeguard our citizens’ interests. We also recognize that traditional energy sources, like natural gas, CNG, and LPG, will continue to play a significant role in our energy mix, offering a practical and immediate solution for energy security as we build toward a low-carbon future.”
Lagos State Government is taking bold steps toward a cleaner energy future. The state is harnessing solar energy for street lighting to building mini-grids and exploring cleaner fuel options for its transportation sector and paving the way forward.
“But this vision cannot be achieved in isolation. We need the private sector’s expertise, the innovation of young entrepreneurs, and partnerships with both local and international stakeholders. Together, our collective efforts will drive the kind of innovation that transforms energy across Lagos, Nigeria, and Africa.”
The Governor said Africa’s energy future is bright, but that future depends on the choices made at OTL’s deliberations urging stakeholders to choose collaboration over competition, sustainability over short-term gains, and resilience over complacency.