Nigeria’s president created a six-month taskforce to overhaul oil sector reforms, boost production, and increase foreign exchange earnings.

President Bola Tinubu has created a six-month Presidential Petroleum Reform and Value Optimization Taskforce, chaired by Fola Adeola, to drive structural changes in Nigeria’s oil and gas sector. The group, comprising experts from industry, finance, and governance, will produce reform blueprints including legislative changes, institutional restructuring, a $5–10 billion liquidity plan, and a ten-year strategy to boost production, foreign exchange earnings, and GDP growth. It will report directly to the president, submit monthly updates, and coordinate with all government agencies, which must provide full support and align ongoing initiatives to avoid duplication. The task force will dissolve after delivering its final report, marking a key step in Tinubu’s effort to enhance transparency, competitiveness, and long-term economic growth in the petroleum sector.