Bola Ahmed Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to coordinate the next phase of structural reforms in Nigerias oil and gas sector.According to a statement issued by the presidents special adviser on information and strategy, Bayo Onanuga, the task force will be chaired by Fola Adeola. Adeola will lead a group of industry and financial experts tasked with producing reform blueprints designed to consolidate ongoing changes in the petroleum sector, attract investment and strengthen Nigerias position as a global energy investment destination.Other members of the task force include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella, with Mofoluwasho Fadayomi serving as secretary.The Presidency described the body as a time-bound, high-level executive working group that will focus on creating practical policy frameworks and implementation strategies to improve transparency, competitiveness and value creation in Nigerias petroleum industry.The initiative, according to the statement, reflects President Tinubus commitment to transforming the sector into a more competitive and transparent industry capable of driving long-term economic growth, macroeconomic stability and industrial development.Unlike traditional government committees, the task force will operate as a technical reform body. It will consult industry operators, regulators, investors and civil society organisations while concentrating on actionable policy design.The group will report directly to the president through monthly progress reports, with an interim report expected within three months and a final reform proposal due within six months of its inauguration.The task force is expected to deliver three major reform frameworks. The first will be an Implementation Toolkit for Immediate Structural Fixes, which will include draft legislative amendments, executive instruments and proposals for restructuring institutions within the sector.The second blueprint, called the Capital and Liquidity Acceleration Blueprint, aims to unlock between $5 billion and $10 billion in investment liquidity for the petroleum industry while protecting Nigerias sovereign interests.The third deliverable, the National Energy Transformation Strategy, will outline a ten-year roadmap for the sector with measurable targets for crude oil production, foreign exchange earnings, contribution to gross domestic product and global cost competitiveness.President Tinubu has directed all Ministries Departments and Agencies of Nigeria, regulators and institutions in the oil and gas sector to provide full technical support to the task force and submit inventories of their ongoing reform initiatives.He also instructed existing committees and working groups involved in petroleum sector reforms to align their work with the new task force to eliminate duplication and improve coordination.According to the Presidency, the task force will function as a strategic presidential instrument to accelerate reforms, strengthen governance and optimise Nigerias energy resources to support sustainable economic transformation. The body will automatically dissolve after submitting its final report and receiving presidential approval.The post Tinubu sets up presidential task force to deepen petroleum sector reforms appeared first on Linda Ikeji Blog.