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Nigeria’s President Bola Tinubu has approved the establishment of a Presidential Petroleum Reform and Value Optimisation Task Force.
Presidential Spokesperson Bayo Onanuga, in a statement issued on Friday, said the task force is expected to design and sequence the next phase of structural reforms in Nigeria’s petroleum sector.
PRESIDENT TINUBU ESTABLISHES TASK FORCE ON PRESIDENTIAL PETROLEUM REFORM & VALUE OPTIMISATION
President Bola Ahmed Tinubu, GCFR, has approved the establishment of a Presidential Petroleum Reform & Value Optimisation Taskforce to design and sequence the next phase of structural…
— Daddy D.O🇳🇬 (@DOlusegun) March 13, 2026
Fola Adeola, co-founder of Guaranty Trust Bank and founder and chairman of the Fate Foundation, will serve as the task force’s chairman, while Mofoluwasho Fadayomi will serve as the task force’s secretary.
Other members of the taskforce are Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella.
According to Onanuga, the task force is a time-bound, high-level executive working group tasked with producing execution-ready reform blueprints that will consolidate ongoing reforms, unlock capital within the petroleum sector, and strengthen Nigeria’s position as a leading global energy investment destination.
“The initiative reflects the President’s commitment to transforming Nigeria’s petroleum industry into a more competitive, transparent, and value-maximising sector capable of driving long-term economic growth, macroeconomic resilience, and industrial development,” said Onanuga.
“It will operate as a technical reform body rather than a representative committee, engaging industry operators, regulators, investors, and civil society as consultees while focusing on actionable policy design and implementation strategies.”
He added that the task force will report directly to the President and provide monthly progress memoranda. An interim report will be submitted after three months, while the final outputs are expected within six months of inauguration.
Members of the task force are expected to deliver three major reform blueprints, including the implementation toolkit for immediate structural fixes, the capital and liquidity acceleration blueprint and the national energy transformation strategy.
