For The Record: President Tinubu’s 2025 Democracy Day Address to Joint Session of National Assembly

With profound honour, I stand before this joint session of our National Assembly; a parliament that embodies the will of the Nigerian people.

2. Today, as I entered this grand edifice built from the sweat and toil of our democratic yearning, my heart stirred. It was a blend of accomplishment and resolve.

3. I felt a sense of collective accomplishment when I realised how far we had come as a nation. Since 1999, democracy has risen from the ashes and destitution of military rule to take its rightful place as the only mode of governance of our resilient and beloved people.

4. With every footstep I took through these hallowed halls up to the moment I now stand before you, I remembered that we still have much further to go.

5. To achieve this progress, we sought an elective office to lead this nation forward. Thus, I hereby affirm before our Merciful and Almighty God and all men my resolve to do all that I can to safeguard and build our democracy as the Divine hand intends for us to do.

6. Since 2018, we have celebrated Democracy Day on this day; to commemorate the sacrifices of the men and women who fought to restore democratic governance to Nigeria.

7. Let me pay tribute to former President Muhammadu Buhari for reaching back into history to rectify a national misdeed by making June 12 Democracy Day and by officially acknowledging Chief Moshood Kashimawo Olawale Abiola and his running mate, Babagana Kingibe, as the victors and thus duly elected President and Vice President respectively of Nigeria after the June 12, 1993 elections.

8. Year by year, election after election, every time we debate instead of battle, discuss instead of fight, and argue instead of destroy, we preserve the institutions of democracy. More importantly, we weave the culture of democracy into the very fabric of our nation.

9. Whilst Chief MKO Abiola is June 12’s central figure, we must not forget the long list of those who equally deserve to be called heroes of Nigerian democracy.

10. We must celebrate the courage of Alhaja Kudirat Abiola and Pa Alfred Rewane, both of whom were murdered by agents of military repression. We also remember the many civil rights activists, journalists, and politicians imprisoned, exiled, tossed aside, tortured and beaten by the military regime.

11. We remember Chief Anthony Enahoro, Commodore Dan Suleiman, Chief Abraham Adesanya, Ayo Adebanjo, Chief Gani Fawehinmi, Balarabe Musa, Ganiyu Dawodu, the journalist Bagauda Kaltho, and Commodore Ndubuisi Kanu. I mention these names not to exclude or degrade the profound contributions of anyone else, but to illustrate, through these few heroes, the universality of our pursuit of democracy.

12. The struggle was never the province of any one group or section of the country, it was pan-Nigerian in its conception and will be even more pan- Nigerian as we strive to perfect it.

13. It is fitting that I come to this chamber. You are the authors of the people’s law, and I must be their faithful implementer. While we may not always agree, we must forge a way to work together because this is what democracy demands of us. I pledge myself to this cooperation and ask that you do the same for the good of our people.

14. Mr. Chairman, the National Assembly has acted to uphold democratic ideals at every critical moment in our national history. In 2006, the 5th National Assembly protected our democracy against an unseemly third-term bid that would have ripped our constitution apart. In 2010, the National Assembly, through the doctrine of necessity, opened the door for then-Vice President Goodluck Jonathan to become the acting President following the illness of his predecessor.

15. Even under the military, the National Assembly tried to protect our democracy. After General Abacha took over power on November 17, 1993, and dissolved the National Assembly, some of us, led by Senator Ameh Ebute, the Senate President in the 3rd Republic, defied the General and his goons to reconvene in the Old Parliament Building in Lagos. We were jailed for our defiance.

16. On behalf of a grateful nation, I commend your invaluable role in lawmaking, oversight, and constituency representation.

17. At this point, I plead for your indulgence so that I may put a terrible rumour to bed.

18. To those who ring the alarm that the APC is intent on a one-party state, I offer you a most personal promise. While your alarm may be as a result of your panic, it rings in error. At no time in the past, nor any instance in the present, and at no future juncture shall I view the notion of a one-party state as good for Nigeria. I have never attempted to alter any political party registration with INEC. Equally, my friends, we cannot blame anybody seeking to bail out of a sinking ship even without a life jacket.

19. Look at my political history. I would be the last person to advocate such a scheme. In 2003, when the then-governing party tried to sweep the nation clean of political opposition through plot and manipulation, I was the last of the progressive governors standing in my region.

20. In all their numbers and false grandeur, they boasted of ruling, not governing, Nigeria for the next half century or more. Where are they now?

21. Yet, I stood alone. My allies had been induced into defeat. My adversaries held all the cards that mortal man could carry. Even with all of that, they could not control our national destiny because fate is written from above. A greater power did not want Nigeria to become a one-party state back then. Nigeria will not become such a state now.

22. The failed effort to create a one-party state placed progressive political forces on a trajectory to form the APC. It put me on the trajectory which has brought me before you today. I dare not do such a favour to any political adversary by repeating the same mistake of political overreach.

23. A one-party state is not in the offing. Nor should it ever be. That said, we would be guilty of political malpractice if we closed the door on those from other parties who now seek to join the APC and I sincerely welcome our party’s newest members from Delta and Akwa Ibom States led by Governor Sheriff Oborevwori and Pastor Umo Eno and other members of this National Assembly.

24. Political parties fearful of members leaving may be better served by examining their internal processes and affairs rather than fearfully conjuring up demons that do not exist. For me, I would say try your best to put your house in order. I will not help you do so. It is, indeed, a pleasure to witness you in such disarray.

25. We must welcome and accept the diversity and number of political parties just as we welcome and embrace the diversity of our population. Our efforts must never be to eliminate political competition but to make that competition salutary to the national well-being by working across the political aisle whenever possible.

26. One area in which democracy calls us to work together, whether in the legislative or executive branch, whether in this or other political parties, is that of economic and social development.

27. Upon assuming office, my team and I moved to reform our ailing economy. We introduced fundamental reforms to correct structural imbalances that prevented maximum growth.

28. We are already seeing results. GDP grew by 3.4 per cent in 2024, with Q4 hitting 4.6 per cent, the highest quarter of growth in over a decade. Inflation is easing gradually, steadying the price of food staples like rice and beans. Our net foreign reserves have increased fivefold, and the Naira exchange rate has stabilised. Our balance of payments position is positive; our sovereign credit rating is improving as we continue to promote oil and non-oil exports. States now do not need to go about borrowing to pay salaries.

29. In less than one year, over one hundred thousand Nigerians, including thirty-five thousand civil servants, have benefited from affordable consumer credit through the Nigerian Consumer Credit Corporation (CREDICORP), enabling them to purchase vehicles, light up and improve their homes and purchase life essentials. This July, we will launch a bold new initiative to empower four hundred thousand young Nigerians, including youth corpers, with consumer credit.

30. We are committed to giving more opportunities to young people through job creation and skills development. Through such programs as NELFUND, we are investing in education, vocational training, apprenticeships, and internships to ensure our youth are job-ready and future-ready.

31. In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity. This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionize how businesses operate, how students learn, and how communities stay connected. By extending this critical infrastructure, we are empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalized world.

32. Our “Nigeria First” policy will further enhance progress as we consolidate market-driven growth. The improved economic performance is encouraging and validates the soundness of our policy measures. Our medium-term growth target remains an economy growing at a 7 per cent clip with a stronger manufacturing base. We must learn to produce and grow most of our food and we are on the path to achieving food sovereignty.

33. These and other reforms have placed the economy on a more rational footing where critical decisions regarding large-scale investment can now be made.

34. I ask you, the legislature, to join me as we enter the second half of our term to put forth innovative legislation that further encourages industrial development and job creation in our urban centres while also drafting laws that improve food security and production.

35. To further underpin our economic vision, we introduced a comprehensive Tax Reform Package, a vital component of our economic re- engineering. I am deeply grateful to both chambers for your thorough consideration and deliberation of these bills, and I look forward to signing them into law soon.

36. Again, your collaboration across party lines on these bills has been a model of democratic partnership.

37. As elected leaders, we must continue to do more to make real the dream of Nigeria’s political and economic democracy.

38. We must be vigilant in expanding the political space. We must always value dialogue over dictatorship, persuasion over suppression and rights over might. Be tolerant and broad-minded in your legislative action regarding speech and civil liberties.

39. Do not be afraid to hear an unkind word spoken against you. Some of the best advice a politician gets sometimes comes from his most ferocious opponents. We dare not seek silence because the imposed silence of repressed voices breeds chaos and ill will, not the harmonics of democracy in the long term.

40. While malicious slander and libel should not go unattended, no one should bear the brunt of injustice for merely writing a bad report about me or calling me names. Democracy requires a fair degree of tolerance for harsh words and stinging insults. Call me names, call me whatever you will, and I will still call upon democracy to defend your right to do so. Mr. Senate President, Mr. Speaker, Distinguished Senators and Honourable Members.

41. Our nation is not perfect, but it is strong. Our democracy is not invincible, but it is alive. And this means our dream of a prosperous, happy nation is still within reach and worth fighting for.

42. Mr. Chairman, Nigeria is at an inflexion point, undergoing structural and fundamental change toward a secure future.

43. Our administration is fully committed to boosting the economy’s productive base. Through investment in critical infrastructure, roads, expansion of port operations, rail, and power we are creating a new environment in which industry and manufacturing can thrive. Our tax and fiscal policy reforms will streamline tax administration and eliminate burdensome and multiple taxes enabling our industrialists and entrepreneurs to operate in a more conducive environment.

44. Governance must work and deliver value to the people. As part of our tax reforms, we have provided small businesses with an exemption and established the Office of the Tax Ombudsman to ensure transparency and protect taxpayer rights. Digital tools now help us track performance and reduce waste. The Diaspora Bond and Non-Resident BVN are bringing Nigerians abroad into the national development fold.

45. In line with my promise during my New Year address to the nation, I recently appointed the board of directors of the newly established National Credit Guarantee Company. The company backed with 100 billion naira in initial capital; with BOI, which, by the way, is performing very well in supporting SMEs, NSIA, CreditCorp, and MOFI as stakeholders, will play a significant role in transforming the nation’s industrial landscape and reducing corruption.

46. National Security is the foundation of peace and progress. We have intensified security operations to reclaim communities from criminals and terrorists. We are better at coordinating intelligence, and inter-agency cooperation has improved. Our highways are safer, and we invest in technology and training to secure every inch of this country.

47. Let us take this opportunity to thank the men and women of our Armed Forces for their bravery in service of the nation. Their selfless dedication to protecting our sovereignty and ensuring the safety of citizens should serve as an inspiration to us all. As we celebrate the progress of our democracy, we must not forget the pivotal role they play in safeguarding our freedoms. For their courage and commitment, they deserve not only our gratitude but also our continued support, prayers and recognition.

48. Fellow compatriots, our achievements are not the work of one man. They are the result of a collective effort to make possible the Nigerian Dream. Yet, the journey is not over. We must work even harder to translate broad macroeconomic gains into tangible improvements in the lives of ordinary Nigerians. We must stay the course, reject cynicism, and believe Nigeria can and will rise again.

49. As we mark a twenty-sixth year of unbroken democracy, it is right to honour those who have made sacrifices in the past, braving all the odds and the guns to ensure we have a regime of democracy in our country.

50. In this light, I announce the conferment of the posthumous national honour of CFR on Kudirat Abiola, the heroine of the June 12 struggle.

51. I also confer posthumous national honours on Shehu Musa Yar’Adua (GCFR), Prof. Humphrey Nwosu (CON), Rear Admiral Ndubuisi Kanu (CON), Alhaji Balarabe Musa (CFR), Pa. Alfred Rewani (CFR), Bagauda Kaltho (OON), Chima Ubani (OON), Dr. Beko Ransome-Kuti (CON), Alao Aka Bashorun (CON), Chief Frank Kokori (CON), Emma Ezeazu (OON), Bamidele Aturu (OON), Fredrick Fasehun (CON), Professor Festus Iyayi (CON), Dr John Yima Sen (OON), Alhaja Sawaba Gambo (CON), Dr. Edwin Madunagu (CON), Dr. Alex Ibru (CON), Chief Bola Ige (CFR), Pa. Reuben Fasoranti (CFR), Sen. Ayo Fasanmi (CON), Sen. Polycarp Nwite (CON) and Dr. Nurudeen Olowopopo (CON).

52. I also confer national honours on Prof. Wole Soyinka (GCON), Prof. Olatunji Dare (CON), the journalist and journalism teacher; Kunle Ajibade (OON); Nosa Igiebor (OON), Dapo Olorunyomi (OON), Bayo Onanuga (CON), Ayo Obe (OON), Dare Babarinsa (CON), Bishop Matthew Hassan Kukah (CON), Senator Shehu Sani (CON), Governor Uba Sani (CON), Barrister Femi Falana, SAN (CON), Prof. Shafideen Amuwo (CON), Barrister Luke Aghanenu (OON), Senator Tokunbo Afikuyomi (CON), Hon. Labaran Maku (OON), Dr. Tunji Alausa (CON), Mr Nick Dazang (OON), Hon Abdul Oroh (OON), Odia Ofeimun (CON), Seye Kehinde (OON), Barrister Felix Morka (CON) Barrister Ledum Mitee (CON), Hon. Olawale Osun (CON), Dr. Amos Akingba (CON), Prof. Segun Gbadegesin (CON), Mobolaji Akinyemi (CFR), Dr. Kayode Shonoiki (CON), Prof. Julius Ihonvbere (CON), Prof. Bayo Williams (CON), Sen. Abu Ibrahim (CFR), and Sen. Ame Ebute (CFR).

53. Additionally, I confer the national honour of CON on Uncle Sam Amuka Pemu, a legendary journalist and publisher who remains true to his lifetime calling as he marks his 90th birthday tomorrow, June 13.

54. Furthermore, I also confer posthumous national honours on Ken Saro Wiwa (CON), the leader of the Ogoni Nine and his fellow travellers, Saturday Dobee (OON), Nordu Eawo (OON), Daniel Gbooko (OON), Paul Levera (OON), Felix Nuate (OON), Baribor Bera (OON), Barinem Kiobel (OON), and John Kpuine (OON). I shall also be exercising my powers under the prerogative of mercy to grant these national heroes a full pardon, together with others whose names shall be announced later in conjunction with the National Council of State.

55. Finally, it is my great privilege to now decorate the presiding officers of the National Assembly with the National Honours earlier conferred upon them last year:

Presiding National Assembly Officers

Senator Godswill Obot Akpabio, GCON – SENATE PRESIDENT

Rt. Hon. Abbas Tajudeen, PhD, GCON – Speaker

Senator Jibrin Ibrahim Barau, CFR – DEPUTY SENATE PRESIDENT

Rt. Hon. Benjamin Okezie Kalu, CFR – Deputy Speaker

56. In conclusion, let us rededicate ourselves to the ideals of June 12; freedom, transparent and accountable government, social justice, active citizen participation, and a just society where no one is oppressed.

57. Happy Democracy Day, and may God continue to bless the Federal Republic of Nigeria and protect our troops.

*Being the full text of the Democracy Day Address by President Bola Ahmed Tinubu to a Joint Session of National Assembly on June 12, 2025

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    Tinubu Pushes for Local Arms, Ammunition Production to Enhance Insurgency Fight

    Tinubu Pushes for Local Arms, Ammunition Production to Enhance Insurgency Fight

    *Says his administration desirous of institutions’ strengthening 

    *Optimistic about renewed confidence in Nigeria’s economy

    Deji Elumoye in Abuja

    President Bola Tinubu yesterday vowed to scale up local production of arms and ammunition as part of his renewed push to strengthen Nigeria’s security architecture. He said boosting homegrown defence capacity will not only reduce dependence on foreign suppliers but also sharpen the nation’s fight against insecurity.
    Speaking in Abuja during the graduation ceremony of Course 33 of the National Defence College, the President, who was represented by Vice President Kashim Shettima, described the College as a vivid representation of his administration’s commitment to building human capital in areas critical to our national survival.
    Tinubu stressed that strengthening indigenous manufacturing of military hardware was crucial in enhancing Nigeria’s security and development.
    He applauded the culture of excellence in research at the National Defence College (NDC), citing the Presidential Treaties on Harnessing Indigenous Manufacturing for Enhanced National Security and Development: Strategic Options for Nigeria by 2040, as an affirmation of the strength of such a tradition in the country.
    “I must also commend the tradition of research excellence in this College. Your Presidential Treaties on Harnessing Indigenous Manufacturing for Enhanced National Security and Development: Strategic Options for Nigeria by 2040 is a clear demonstration of this strength.
    “I have directed that relevant stakeholders study your recommendations and harvest the strategies you proposed, because strengthening indigenous manufacturing is indispensable to our nation’s security and development,” the President stated.
    He expressed delight at the theme for the College’s Course 33, “Strengthening Institutions for National Security and Development in Nigeria,” pointing out that the foundation of every successful society was strong and resilient institutions.
    Noting that his administration has since made strong institutions a national priority, Tinubu said, “They uphold the rule of law, safeguard citizens’ rights, promote accountability, and deliver essential services. In national security, they are the framework for managing conflict, countering threats, and building resilience against instability.
    “In development, they ensure sound governance, effective planning, and the delivery of policies that serve the common good. This is why this administration has made institutional strengthening a national priority, and I trust that the knowledge you have acquired here will be deployed to fortify the institutions of Nigeria and of your respective nations.”
    The President expressed firm belief that “without strong institutions there can be no lasting democracy,” stating that in pursuit of this conviction, his administration has taken bold steps to reposition the nation’s “economy for growth and shared prosperity.
    “Today, there is renewed confidence in our economy, reflected in the nation’s rising business outlook. Today, even the stock market has grown by over forty-eight percent year on year, the best performance in almost three decades.
    “While this reflects investor faith in our reforms, I acknowledge that we must continue to tackle inflation and food insecurity to ensure that this growth translates into real prosperity for every Nigerian,” he declared.
    Tinubu also reiterated his administration’s resolve to complete construction at the permanent site of the National Defence College in Piwoyi, saying that while it is a matter close to the heart of the College, he had been briefed on the state of infrastructure at the site.
    According to him: “While progress has been made, much remains to be done. I assure you that this administration is committed to completing the permanent site, to ensure that the College continues to deliver strategic training not only for Nigeria but also for allied nations. When fully equipped, this College can, and should, evolve into a Defence Postgraduate University.
    “I have therefore directed the Commandant to work closely with the Minister of Defence to develop a clear strategy to upgrade the facilities, while government explores further interventions to enhance the infrastructure,” he assured.
    The President implored the Course 33 graduands to join hands in delivering his administration’s renewed hope to Nigerians, just as he recalled that his pledge to the people is “to provide effective and creative leadership, and I call on you to be partners in the task of birthing the new Nigeria we all dream of.
    “Graduates of Course 33, you step out today into a world more volatile, uncertain, complex, and ambiguous than when you began your course last year. Global economic headwinds, the war in Ukraine, the disruptive force of emerging technologies, the threats in cyberspace, and the unsettling resurgence of unconstitutional changes of government in our region form the backdrop of your service.
    “But you have been prepared for this moment. You have been trained to think and act strategically. You have been equipped to lead with vision and courage,” he also stated.
     Tinubu further commended the Commandant, the management team, and the Faculty of the College for grooming the Course 33 graduands for the “Armed Forces, for Ministries, Departments and Agencies, and for the friendly nations represented,” in the Course.
    Earlier, the Commandant of the National Defence College, Rear Admiral J.O. Okosu, welcomed the President to the ceremony, highlighting his administration’s solid support for the military institution.
    He expressed confidence in the graduands’ abilities to deliver, stressing that the training programme is aimed, among other things, at tackling several pertinent security challenges, including banditry and oil theft in the Niger Delta region.
    On his part, the Deputy Commandant of NDC, Major General Kevin Ukandu, explained that knowledge and skills were imparted to the participants in several areas, including defense management, strategy formulation, command, and geopolitics.

    According to him, the training was designed to prepare them to undertake high-level policy, command, and staff functions in single and joint service headquarters, as well as civil appointments at national and international levels.

    The Course 33 graduates are drawn from the Nigerian Army, Nigerian Navy, Nigeria Police Force, and other institutions both within and outside Nigeria

    The post Tinubu Pushes for Local Arms, Ammunition Production to Enhance Insurgency Fight appeared first on THISDAYLIVE.

    NNPC, Gas Suppliers Sign 1.29bscf/d Feedgas Supply Deals with NLNG

    NNPC, Gas Suppliers Sign 1.29bscf/d Feedgas Supply Deals with NLNG

    *Lokpobiri: FG wooing global oil firms with new incentives 

    *American firm eyes investment in OML 145

    Emmanuel Addeh in Abuja and Peter Uzoho in Lagos 

    The Nigerian National Petroleum Company Limited (NNPC) and some upstream gas suppliers yesterday signed long-term Gas Supply Agreements (GSAs) with the Nigeria Liquefied Natural Gas Limited (NLNG) for the delivery of 1.29 billion standard cubic feet per day (bscf/d) of feed gas.
    This emerged as the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said President Bola Tinubu remains committed to ensuring that oil companies that once exited the country are compelled to return, given the recent incentives provided in the sector by the government.
    The 20-year agreements, with extension options between the NNPC and GSAs, were signed in Abuja, by the NLNG and Amni International Petroleum Development Company Limited; Sunlink Energies and Resources Limited; First Exploration & Petroleum Development Company Limited; SNEPCo; NNPC Gas Marketing Limited; NNPC E&P Limited; Shell Nigeria Gas Solutions Limited; Oando Group; and Aradel Holdings.
    The agreements, a statement from the NNPC said, aims at bridging the prolonged shortfall in upstream gas availability, and marks a major boost for Nigeria’s energy transition agenda and the federal government’s gas reforms aimed at strengthening the nation’s economic prosperity and energy security.
    Speaking at the signing ceremony, the Group Chief Executive Officer of NNPC,  Bayo Ojulari, commended NLNG’s shareholders and the government for their long-term commitment to value delivery despite the challenges faced over the years. 
    He described the agreements as a giant step towards value creation and sustainable gas supply.
    “These GSAs have opened up opportunities for the growth of our industry both for local and international development. They’re hinged on collaboration, synergies and opportunities. We need to leverage economies of scale, share risk and opportunities for us to attain Mr. President’s Decade of Gas vision,” he said.
    Ojulari lauded the enabling environment and private sector support fostered by Tinubu.
    “It is important to commend the President’s tremendous effort that has enabled the business through the issuance of Executive Orders targeted at gas developments and ease of doing business,” he added.
    The GCEO reaffirmed NNPC’s readiness to accelerate the realisation of the Presidential Executive Orders for the industry, pledging to work with partners to unlock opportunities for collective prosperity, in line with the national gas development targets for incremental production.
    In his remarks, NLNG Managing Director, Philip Mshelbila, who hailed the GSAs as a game-changer for Nigeria’s gas industry, said they will enhance local gas production capacity, improve supply reliability, and advance the nation’s energy security, industrialisation aspirations, and economic growth.
    “We could not have achieved this sooner without the deliberate and concerted efforts of our shareholders and stakeholders in the energy industry in Nigeria. These agreements are a turning point in NLNG’s journey, restoring reliability of supply and ensuring we remain firmly on the path of growth and expansion,” Mshelbila noted.

    According to him, the new GSAs reinforce Nigeria’s role in the global energy market while strengthening feed gas supply to the Bonny Island plant and supporting the company’s expansion drive.

    The Nigeria LNG Limited (NLNG) is an incorporated joint venture (IJV), with NNPC Ltd holding 49 per cent, Shell Gas 25.6 per cent, TotalEnergies 15 per cent, and Eni International 10.4 per cent.

    The third-party gas suppliers, a separate statement from NLNG said, is a strategic move to strengthen feedgas supply to its existing trains on Bonny Island and support the company’s expansion drive.

    It said the new GSAs represent a significant boost to feedgas availability, enhancing NLNG’s capacity to meet its commercial commitments while laying the groundwork for expansion. 

    “This development is aligned with the Federal Government’s Decade of Gas initiative, which places natural gas at the centre of Nigeria’s industrialisation and energy transition agenda,” it added.

    Meanwhile, Lokpobiri, has said Tinubu is ensuring that oil companies which once exited the country are compelled to return, given recent incentives provided in the sector by the government.

    To this end, the minister noted that Nigeria is strengthening its position as a top global investment destination, welcoming international partners back to its oil and gas industry with competitive incentives and a renewed commitment to collaboration.

    A statement in Abuja yesterday by the minister’s Special Adviser on Media and Communication, Nneamaka Okafor, said Lokpobiri made the remarks while receiving a delegation from Vaalco Energy, an American independent oil and gas exploration and development company.

    In recent years, Nigeria has introduced a range of incentives in the oil sector aimed at attracting investment, boosting production, and stabilising revenues. Central to this is the Petroleum Industry Act (PIA) of 2021, which overhauled the fiscal and regulatory framework. 

    The law provides for more competitive royalty and tax regimes, especially for deep offshore and frontier acreages, where exploration costs are high as well as ensure that investors are offered production allowances, reduced hydrocarbon tax rates, and flexible royalty structures tied to price and terrain.

    Beyond fiscal reforms, the government has also promoted gas development through incentives such as tax holidays, zero customs duties on equipment, and capital allowances for companies investing in domestic gas supply and infrastructure. 

    According to the statement, the American firm has also already expressed interest in re-entering Nigeria through the acquisition of Svenska’s PSC interest in Oil Mining Lease (OML) 145.

    “The Government of President Bola Ahmed Tinubu is particularly interested in creating a better environment for companies that were once here but left for various reasons to return. We are prepared to offer incentives comparable to the best available globally.

    “It is gratifying for us as a nation when those who have worked here become ambassadors, speaking of how friendly and conducive Nigeria is for business. We are glad to welcome you back,” Lokpobiri, who commended Vaalco’s renewed interest in Nigeria, was quoted as saying.

    Lokpobiri assured that Nigeria’s oil sector policies now provide clarity, fiscal stability, and investor-friendly frameworks that encourage long-term partnerships.

     “Your renewed presence will help us ramp up production and achieve our national energy objectives. Together, we can build a future of shared growth and prosperity,” he stressed.

    In his remarks, Vaalco Energy’s Managing Director, Pieter Van der Groen, said the company still sees Nigeria as a key investment hub, explaining that as a listed company in the US, the firm already has access to funding.

    “We are here to seek regulatory guidance for acquiring Svenska’s interest in OML 145, but more importantly, to return to Nigeria and invest in a stronger way. As a New York Stock Exchange-listed company, we have access to funding to develop the assets we acquire. We are not here to sit on them; we are here to produce,” the MD stated

    The post NNPC, Gas Suppliers Sign 1.29bscf/d Feedgas Supply Deals with NLNG appeared first on THISDAYLIVE.

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