By Erewunmi Peace

The President of Nigeria, Bola Ahmed Tinubu, has approved the establishment of a Presidential Petroleum Reform and Value Optimisation Task Force to drive reforms in the country’s oil and gas sector.

According to official reports, the task force was created to develop strategies that will improve efficiency, transparency, and investment in Nigeria’s petroleum industry.

The committee will be chaired by Fola Adeola, a respected financial expert and co-founder of Guaranty Trust Bank. The task force includes several professionals with experience in the energy, finance, and investment sectors.

The newly established team has been mandated to design the next phase of structural reforms within the petroleum sector and recommend policies that will strengthen governance and attract both local and international investments.

Reports indicate that the task force will submit an interim report to the president within three months, while a comprehensive reform blueprint is expected within six months.

The initiative is part of the federal government’s broader efforts to improve Nigeria’s energy sector, boost production, and enhance the country’s position in the global oil and gas market.

Nigeria remains one of Africa’s leading oil producers, and the government hopes the new reform task force will help unlock billions of dollars in potential investments within the industry.