Tinubu Launches Taskforce to Revamp Nigeria’s Oil Sector

President Bola Ahmed Tinubu has approved the creation of a Presidential Petroleum Reform & Value Optimisation Taskforce to accelerate structural reforms in Nigeria’s petroleum industry.

The Taskforce will be chaired by Fola Adeola, co-founder of Guaranty Trust Bank, with a mandate to produce actionable reform blueprints, unlock sectoral capital, and strengthen Nigeria’s position as a global energy investment destination.

Key members include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye, and Seyi Bella, with Mofoluwasho Fadayomi serving as secretary.

The group is expected to deliver three major outputs: an Implementation Toolkit for Structural Fixes, a Capital & Liquidity Acceleration Blueprint to unlock $5–10 billion, and a National Energy Transformation Strategy – a 10-year roadmap for production, GDP contribution, and cost competitiveness.

President Tinubu has directed all relevant ministries, agencies, and committees to support and align with the Taskforce, which will automatically dissolve upon submission of its final report.