Presidential Taskforce Appointed to Transform Nigeria’s Petroleum Sector

BY UCHECHI OKPORIE

President Bola Tinubu has appointed Fola Adeola, co-founder of Guaranty Trust Bank and founder of the Fate Foundation, to lead a newly established Presidential Petroleum Reform and Value Optimisation Taskforce. The executive body aims to design and implement the next phase of structural reforms in Nigeria’s petroleum industry.

The taskforce, described as a high-level, time-bound working group, will produce reform blueprints to unlock sectoral investment, improve transparency, and strengthen Nigeria’s position as a global energy destination.

Deliverables include legislative recommendations, a capital and liquidity acceleration plan, and a ten-year national energy transformation strategy.

President Tinubu has mandated full support from all relevant government agencies to ensure the initiative achieves its objectives within six months, with monthly progress updates to the presidency.