Koko Maxwella 
President, Bola Tinubu
ABUJA, Nigeria – President Bola Tinubu approves the creation of a Presidential Petroleum Reform and Value Optimisation Taskforce to steer the next phase of reforms in Nigeria’s oil and gas industry.
The initiative aims to develop practical policy strategies to strengthen the petroleum sector and position Nigeria as a competitive global energy destination.
According to a statement on Friday by presidential spokesman Bayo Onanuga, the taskforce will be chaired by Fola Adeola, co-founder of Guaranty Trust Bank and founder of the Fate Foundation.
Adeola will coordinate the work of the team and ensure timely delivery of reform proposals.
Other members include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella, while Mofoluwasho Fadayomi serves as secretary.
The taskforce will function as a time-bound executive body, engaging regulators, industry operators, investors and civil society groups.
It will submit monthly progress reports directly to the president.
An interim report is expected within three months, while the final report will be delivered six months after the taskforce begins work.
Officials say the team will produce three major policy frameworks:
Implementation Toolkit for Immediate Structural Fixes, including legislative amendments and institutional reforms
Capital and Liquidity Acceleration Blueprint, designed to unlock $5–10 billion in investment
National Energy Transformation Strategy, a 10-year roadmap to boost production, GDP contribution and foreign exchange earnings
President Tinubu directs ministries, regulators and institutions in the petroleum sector to provide full support and share relevant data with the taskforce.
About the Author
Oluwatobi Adu 
Edino Chubiyo Cornelius 
Oluwafunbi Bello