London, United Kingdom – January 8, 2025.
Renewed Hope Global, a prominent and influential political advocacy organisation championing President Bola Ahmed Tinubu GCFR’s visionary leadership, celebrates Nigeria’s recent milestone in meeting its OPEC crude oil production quota for the first time in over four years. This significant achievement not only confirms the transformational impact of President Tinubu’s bold policies and strategic directives in the oil and gas sector but also fills us with pride and optimism for Nigeria’s future in the energy sector.
According to a Bloomberg survey, Nigeria’s oil production rose by 40,000 barrels per day (bpd) to 1.51 million bpd in December 2024, hitting a four-year high and meeting the country’s OPEC-assigned quota. This milestone reflects the government’s determination to restore Nigeria’s position as a key player in global energy markets.
Under President Tinubu’s administration, the oil sector has experienced unprecedented progress, including:
– A production increase from one million bpd to 1.8 million bpd (inclusive of condensates).
– Attracting $5 billion in foreign investments, exemplified by Shell Nigeria Exploration and Production Company’s Final Investment Decision on the Bonga North deep-water project.
– Winning the bid to host the Africa Energy Bank, the continent’s first institution to promote energy investments.
– Strengthening peace in Niger Delta communities and eliminating bureaucratic bottlenecks, which had long hindered investment.
Ambassador JK Adebola, Chairman of Renewed Hope Global, praised the President’s leadership, stating:
“President Bola Ahmedg Tinubu’s visionary directive to revamp the oil sector has not only restored Nigeria’s credibility within OPEC but also reignited investor confidence in our nation’s energy potential. This achievement represents the hallmark of transformational leadership and securing a prosperous future for all Nigerians.”
Renewed Hope Global recognises that this milestone is just the beginning of an era of growth and resilience in Nigeria’s oil and gas industry. With President Tinubu at the helm, Nigeria is well-positioned to achieve even greater heights in sustainable energy production.
©️ Renewed Hope United Kingdom
