Speaking at the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, the President, represented by Vice President Kashim Shettima, noted that oil production has become steadier and stronger due to collaborative efforts. This stability has reportedly attracted investors back to Nigeria, positioning the country as a leading destination for upstream investment in Africa for the past two years.

President Tinubu emphasized that these economic gains extend beyond the oil and gas industry. Under the "Renewed Hope Agenda," the government is fostering a diversified economy where various sectors contribute. Petroleum earnings are still seen as crucial for supporting the naira and funding the federation, while natural gas is intended to power homes and factories.

The administration plans to leverage the upstream industry to create jobs for Nigerian engineers, fabricators, and service companies, using petroleum resources to build the broader economy rather than solely depending on them. The President also committed to a "just energy transition" suited to Nigeria's needs, designating the current decade as the "decade of Gas."