The Managing Director of Sahara Group, Mr. Kola Adesina, has lauded President Bola Tinubu’s reforms in the energy sector, describing them as transformative and essential to building a more stable, transparent, and investor-friendly environment.

Speaking in an interview for an upcoming State House documentary to mark the second anniversary of President Tinubu’s administration, Adesina particularly praised the bold decisions taken, especially the removal of fuel subsidies, which he said had entrenched inefficiency and discouraged investment for decades.

“The most significant shift I have seen—without a doubt—has been the government’s willingness to confront long-standing inefficiencies in the petroleum sector,” he said. “President Tinubu’s courage in removing fuel subsidies and market distortions is unprecedented in Nigeria’s history.”

According to Adesina, eliminating the subsidy has not only stabilized the market but also created room for better planning and long-term investment.

“The energy sector today is stronger and more sustainable. We can now plan,” he noted. “The macro and microeconomic elements are beginning to align, and the potential for long-term benefits is promising.”

He added that the reforms have introduced clarity and consistency to pricing mechanisms, creating a level playing field for all market participants.

“For us, it’s about a free and open market. When there’s no clarity or consistency, investment becomes difficult. But now, everyone understands the rules. Reform is no longer just a slogan—it’s driving market behaviour.”

Adesina also highlighted improvements in the gas and power sectors, areas where Sahara Group is significantly involved. He noted that the alignment between public policy and private sector expectations is now stronger, leading to more rational and forward-thinking decisions.

“Bottlenecks are giving way to commonsense reforms. There’s now predictability in the system, which boosts confidence across the board.”

He applauded the full implementation of the Petroleum Industry Act (PIA), calling it a “game changer” for policy direction and investment security.

“The PIA is now a working document, unlike before when uncertainty scared investors. Today, private sector players can commit their capital without fear of abrupt policy shifts.”

On legacy issues, Adesina welcomed government efforts to clear outstanding debts in the power sector, saying it would unlock new investments and strengthen existing operations.

“Resolving those obligations will revive confidence. Once the debts are paid, you’ll see both current and new players expanding their stakes in the sector. There’s renewed optimism and activity.”

The Sahara Group chief further noted significant progress in Nigeria’s energy transition, particularly in the areas of natural gas, compressed natural gas (CNG), and climate-conscious energy initiatives.

“Gas-to-power is gaining ground. CNG is becoming a national priority, and the carbon credit market is expanding. These are signs of a forward-looking administration,” he said.

Concluding, Adesina said that while challenges remain, the Tinubu administration has laid the foundation for long-term prosperity in the energy sector.

“We’ve had a complex and often difficult journey, but the road ahead looks more promising. With the current structural reforms, prosperity can reach even the last person in the most remote corner of Nigeria,” he said