The Presidency has dismissed concerns that International Oil Companies (IOCs) are exiting Nigeria, clarifying that these companies are instead rebalancing their operations and shifting focus to deep water activities.

Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, made this clarification during an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday. Speaking on the second anniversary of the Tinubu administration, she emphasized that while IOCs are repositioning, Nigerian indigenous companies are increasingly taking the lead in onshore operations.

"Indigenous firms are gaining capacity, they have community credibility and in the long term, we expect them to scale regionally and globally," Verheijen stated.

According to the presidential adviser, the growing capacity of local firms is evident in their ability to acquire divested assets from IOCs. She highlighted that Nigeria has achieved an increase in indigenous equity in gas from 69 percent to 83 percent under the current administration.

Call for African Investment

Verheijen urged African investors, development finance institutions, banks, pension funds, and sovereign wealth funds to be strategic in their focus and work to fill the vacuum left by international oil companies. She also encouraged industry leaders across the continent to follow Nigeria's example by ensuring Africa moves beyond appeals for support to become a genuine investment destination.

Speaking on her personal vision, the special adviser expressed her desire to see more Nigerians have access to energy, secure high-paying jobs, and develop the capacity to diversify and grow the economy while competing favorably on the global stage.

"I am committed to institutional reforms that endure, that ensure that we remain and continue to grow as an investment-grade country," she said.

Verheijen added that she is dedicated to transparency and demonstrable results that transform lives, emphasizing that Nigeria aims not just to be energy-rich but also energy-secure and globally competitive.