The Managing Director of Sahara Group, Mr. Kola Adesina, has expressed confidence in President Bola Tinubu’s energy sector reforms.

In a forthcoming State House documentary commemorating President Bola Tinubu’s second year in office, Kola Adesina, Group Managing Director of Sahara Group, praised the administration’s energy sector reforms, citing significant strides in transparency, regulatory stability, and investment attraction.

Adesina commended the president’s decisive removal of fuel subsidies, describing it as an unprecedented move in addressing the deep-rooted inefficiencies of Nigeria’s petroleum sector.

“The most significant shift I’ve witnessed is the administration’s readiness to tackle long-standing challenges in the petroleum industry,” Adesina said. “President Tinubu’s bold decision to eliminate the fuel subsidy and correct market distortions is unmatched in our history.”

According to presidential spokesperson Mr. Bayo Onanuga, who issued a statement on May 15, Adesina noted that the subsidy removal has fostered a more sustainable and transparent energy ecosystem, allowing for improved planning by both businesses and policymakers.

“With greater clarity and consistency, the energy sector is now more robust. The macro and micro elements are aligning, creating a promising outlook for long-term gains,” Adesina explained.

From a business perspective, he highlighted that the reforms have fostered fair competition and enhanced investor confidence.

“We now operate in a transparent, open market. Pricing mechanisms are clear, and everyone has equal access. That kind of clarity is essential for investment,” he said.

Adesina also acknowledged government progress in vital infrastructure, particularly in the gas and power sectors, where Sahara Group is actively engaged. He noted a growing alignment between public policy and private sector needs.

“There’s real momentum now. Policy and business expectations are converging, and previous bottlenecks are being cleared through pragmatic decision-making. We now have a clearer picture of Nigeria’s energy trajectory,” he added.

He further praised the implementation of the Petroleum Industry Act (PIA), describing it as a transformative step toward policy coherence.

“The PIA has brought predictability. We now have a framework that encourages investment by assuring stability even after capital has been committed,” he said.

In the power sector, Adesina lauded the government’s efforts to resolve outstanding financial obligations, which he said is essential to attracting and retaining investors.

“We’re seeing action on legacy debt payments. Once these are settled, we expect new players to enter the market, and existing ones like us will expand our operations. There’s renewed energy in the industry,” he said.

He also highlighted progress in Nigeria’s energy transition strategy, especially the emphasis on natural gas and climate-responsible solutions.

“Gas-to-power is taking root, and we’re fully behind it. We’ve already invested and are ready to do more. The President’s push for compressed natural gas (CNG) and the expansion of carbon credit initiatives are steps in the right direction,” Adesina stated.

Concluding his remarks, Adesina described the administration’s efforts as laying a solid foundation for the future, emphasizing that the new energy landscape prioritizes reliability, affordability, and inclusiveness.

“Though challenges remain in the short term, the groundwork for long-term prosperity has been laid. It’s a foundation that can drive inclusive growth and reach even the most remote parts of the country,” he said.