Abuja: The Presidency has clarified that the International Oil Companies (IOC) are not leaving Nigeria, but are instead shifting their focus towards deep water operations. Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, conveyed this in an interview with the News Agency of Nigeria.
According to News Agency of Nigeria, Verheijen made these remarks on the second anniversary of President Tinubu’s administration. She highlighted the strategic rebalancing by the IOCs while acknowledging that Nigerian independent companies are now taking the lead in onshore operations. She emphasized the growing capacity of indigenous firms, noting their credibility within local communities and potential for regional and global expansion.
Verheijen also noted a significant increase in indigenous equity in the gas sector, rising from 69% to 83%, showcasing the ability of local firms to acquire assets divested by the IOCs. She urged African investors, development finance institutions, banks, pension funds, and sovereign entities to strategically fill gaps left by international oil companies.
In her remarks, Verheijen encouraged industry leaders across Africa to follow Nigeria’s example by transforming the continent into a prime investment destination, rather than relying on external support. Discussing her legacy, she expressed a desire to see more Nigerians employed in high-paying energy jobs and contributing to the global economy through diversified and competitive economic growth.
Verheijen reiterated her commitment to lasting institutional reforms, transparency, and delivering tangible, life-changing results. She expressed gratitude to President Tinubu for the opportunity to serve in a pivotal sector of Nigeria’s economy.
