Tinubu Sets Up Presidential Petroleum Reform Task Force

President Bola Ahmed Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to design the next phase of structural reforms in Nigeria’s petroleum sector.

The announcement was made by Bayo Onanuga, Special Adviser to the President on Information and Strategy, who said the task force will operate as a time-bound, high-level executive working group.

The group is chaired by Fola Adeola, co-founder of Guaranty Trust Bank, with members including Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye, and Seyi Bella. Mofoluwasho Fadayomi will serve as secretary.

According to the Presidency, the task force will produce execution-ready reform blueprints to consolidate ongoing reforms, unlock capital, and strengthen Nigeria’s position as a global energy investment destination.

It will report directly to the President, submitting monthly memoranda, an interim report after three months, and final outputs within six months.

Tinubu outlined three key deliverables to include Implementation Toolkit for Immediate Structural Fixes – including draft legislative amendments and institutional restructuring proposals, Capital & Liquidity Acceleration Blueprint – aimed at unlocking $5–10bn in sectoral liquidity, and National Energy Transformation Strategy – a ten-year roadmap with measurable targets for production, FX earnings, GDP contribution, and competitiveness.

The President directed all ministries, agencies, regulators, and committees in the sector to align their activities with the new task force and provide full technical support.

Onanuga said the initiative reflects Tinubu’s commitment to making Nigeria’s petroleum industry more competitive, transparent, and value-maximising, capable of driving long-term growth and resilience.