Jump to navigation

Vol 67 No 7

Published 3rd April 2026


Nigeria

Tinubu’s oil reforms hit a wall of old debts and new sabotage

The President is moving faster to unlock stalled investments but forward crude sales and pipeline attacks are cutting into the oil price windfall

President Bola Ahmed Tinubu came to office in May 2023 promising to reverse two decades of decline in Nigeria’s petroleum sector, and on paper the progress is real: a long-running dispute over OPL 245 has been settled, US$20 billion in field development plans approved, and 50 oil blocks put up for licence. Yet as global crude prices surge on the back of the United States-Israeli war with Iran, Nigeria’s oil production is at a 20-month low, with the Dangote refinery receiving about half the crude supply the Nigerian National Petroleum Company (NNPC) had agreed to deliver.

End of preview - This article contains approximately 1314 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.