Kingsley Ohens reporting
President Bola Ahmed Tinubu has approved the establishment of a high-level Presidential Petroleum Reform and Value Optimisation Taskforce to drive the next phase of structural reforms in Nigeria’s petroleum sector and strengthen the country’s position as a competitive global energy investment destination.
Among the distinguished professionals selected for the strategic assignment is Adaeze Aguele-Kalu, a respected financial expert from Edo State and former Commissioner for Finance in the state. Her appointment has been widely regarded as a recognition of her experience in economic management, financial strategy, and public sector leadership.
The Taskforce will be chaired by renowned banker Fola Adeola, co-founder of Guaranty Trust Bank and founder of Fate Foundation. Other members of the team include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Farouk Gumel, Phillipa Osakwe-Okoye, and Seyi Bella, with Mofoluwasho Fadayomi serving as Secretary.
According to the Presidency, the Taskforce is a time-bound executive working group mandated to produce execution-ready reform blueprints that will consolidate ongoing reforms, unlock capital within the petroleum sector, and enhance Nigeria’s global competitiveness in the energy industry.
The body will function as a technical reform platform, engaging industry operators, regulators, investors, and civil society stakeholders while focusing on actionable policy design and implementation strategies.
Reacting to her appointment, Aguele-Kalu expressed appreciation to President Tinubu for the confidence reposed in her and reaffirmed her commitment to contributing meaningfully to the reform of Nigeria’s petroleum sector.
She described the opportunity as a call to national service and pledged to bring her expertise and dedication to the task.
“I am deeply honoured by this opportunity to serve our country at such a critical moment in our economic and energy reforms,” she said.
The Edo-born financial expert further assured that she would work collaboratively with other members of the Taskforce to deliver practical reforms that will strengthen Nigeria’s petroleum industry.
“I remain committed to working diligently with my colleagues to achieve the objectives of the Taskforce. I will continue to work hard and make Edo State proud,” she added.
The Taskforce is expected to deliver three major reform blueprints, including an Implementation Toolkit for Immediate Structural Fixes, which will outline draft legislative amendments, executive instruments, and proposals for institutional restructuring.
It will also produce a Capital and Liquidity Acceleration Blueprint aimed at unlocking between $5 billion and $10 billion in sectoral liquidity while safeguarding Nigeria’s sovereign interests.
Additionally, the Taskforce will develop a National Energy Transformation Strategy, a ten-year roadmap that will set measurable targets for production growth, foreign exchange earnings, GDP contribution, and cost competitiveness.
President Tinubu has directed all ministries, departments, agencies, and regulators in the sector to provide full technical support to the Taskforce and align ongoing initiatives with its reform framework to ensure coordination and avoid duplication of mandates.
The Taskforce will report directly to the President, submitting monthly progress memoranda, an interim report within three months, and a final report within six months of its inauguration, after which it will automatically dissolve.
The creation of the Taskforce underscores the administration’s determination to strengthen governance in Nigeria’s petroleum sector, optimise national energy assets, and position the country’s resources as a key driver of sustainable economic growth and industrial development.
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