Nigeria has received the Reformer of the Year award at the Africa Energy Week: Invest in African Energies 2025 conference for its outstanding work in improving the country’s oil and gas industry.
According to a statement from the African Energy Chamber (AEC), the award presented to the Ministry of Petroleum Resources, recognises reforms like the Petroleum Industry Act (PIA) 2021 and new executive orders whose purpose is to improve and attract investors while boosting production.
“The Ministry of Petroleum Resources has shown extraordinary leadership in building a transparent, competitive and resilient energy sector. Nigeria’s reforms are unlocking billions in investments, advancing infrastructure and ensuring energy development directly benefits its people,” stated Mr NJ Ayuk, Executive Chairman of the AEC.
It noted that since PIA commenced in Nigeria, over $17 billion has been made in foreign investment into the country’s oil and gas industry, reflecting growing confidence in the country’s new policy environment.
Also, Nigeria has pursued a bold exploration and production strategy, reengaging global investors through fiscals designed to incentivize investment. The legislation overhauled sector governance, unbundled the Nigerian National Petroleum Company (NNPC) Limited into a commercially oriented entity, and established a modernized regulatory framework to attract capital and foster sustainable growth.
The federal government has strengthen reform focused at reviving performance and unlocking long delayed projects. President Bola Tinubu in April 2025 signed a major Executive Order on Oil and Gas Sector Reform, to improve management and cost competitiveness across upstream operations.
Nigeria aims to increase oil production above two million barrels per day while advancing gas monetization and infrastructure projects.
Major initiatives progressing under the new investment climate include the $10 billion Nigeria–Morocco Gas Pipeline, ongoing Ajaokuta-Kadua-Kano (AKK) pipeline development, and multiple deepwater Final Investment Decisions (FIDs) by international and indigenous operators.
At the same time, the Ministry is accelerating modular refinery development, enhancing downstream transparency and expanding the country’s role as a regional gas hub.