- President Tinubu creates Presidential Petroleum Reform and Value Optimisation Taskforce
- Fola Adeola appointed chairman of the taskforce
- Group to design next phase of petroleum sector reforms
- Taskforce to report directly to the President
Bola Ahmed Tinubu has established a Presidential Petroleum Reform and Value Optimisation Taskforce to develop and coordinate the next phase of structural reforms in Nigeria’s petroleum sector.
The President appointed Fola Adeola as chairman of the taskforce.
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The announcement was made in a statement issued by Bayo Onanuga.
According to the statement, the taskforce will function as a time-bound, high-level executive working group responsible for producing practical reform strategies and execution-ready policy blueprints.
Other members of the taskforce include:
• Ademola Adeyemi-Bero
• Osagie Okunbor
• Abubakar Suleiman
• Adaeze Aguele
• Farouk Gumel
• Phillipa Osakwe-Okoye
• Seyi Bella
Mofoluwasho Fadayomi will serve as the secretary of the taskforce.
According to the presidency, the taskforce is expected to:
• Consolidate ongoing reforms in the petroleum sector
• Unlock capital and investment opportunities
• Strengthen Nigeria’s position as a global energy investment destination
The statement added that the initiative reflects the administration’s commitment to transforming the industry into a more competitive, transparent, and value-driven sector.
The taskforce will operate primarily as a technical reform body rather than a representative committee.
It will consult widely with industry operators, regulators, investors, and civil society while focusing on policy design and implementation strategies.
The group will also report directly to the President, submitting monthly progress reports on its activities.