Nigeria Petroleum Reform Task Force Formed

President Bola Tinubu of Nigeria has approved the establishment of a Presidential Petroleum Reform and Value Optimisation Task Force, chaired by Fola Adeola, co-founder of GTCO Group. This task force, comprising prominent industry and financial experts, is mandated to design and coordinate the next phase of structural reforms in Nigeria's petroleum sector. Its primary goals include consolidating ongoing reforms, unlocking $5-10 billion in investment capital, and enhancing Nigeria's global energy investment appeal. The task force will operate as a technical reform body, reporting directly to Bola Tinubu with an interim report due in three months and final proposals within six months. It is expected to deliver three key blueprints: an Implementation Toolkit for Immediate Structural Fixes, a Capital and Liquidity Acceleration Blueprint, and a National Energy Transformation Strategy. Bola Tinubu has directed all relevant government agencies and existing reform groups to provide full support and align their activities with the new task force to streamline efforts and ensure institutional clarity.