By NIyi JACOBS
The Federal Government of Nigeria has strengthened engagement with indigenous energy players following a key meeting between the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and a delegation from Renaissance Africa Energy Company Limited (RAEC).
Led by Dr. Layi Fatona, Chairman of RAEC, alongside Managing Director and CEO Engr. Tony Attah, the delegation briefed Minister Edun on their recent acquisition and operational takeover of Shell Petroleum Development Company’s (SPDC) onshore assets in Nigeria.
Since assuming control, RAEC has successfully ramped up oil production to over 200,000 barrels per day, marking a significant milestone for the company and the nation’s oil and gas sector.
Dr. Fatona and Engr. Attah emphasized RAEC’s alignment with the Federal Government’s economic priorities, including boosting revenue, job creation, and upstream sector expansion. They also reaffirmed their commitment to responsible community engagement and sustainable energy development.
Minister Edun welcomed the delegation warmly, commending RAEC’s operational progress and highlighting the increasing role of Nigerian-owned firms in driving economic growth. He reiterated President Bola Tinubu’s dedication to creating a level playing field for all private sector actors and underscored the need for ongoing collaboration between government and industry.
The meeting ended with a mutual agreement on the critical role indigenous companies like RAEC will play in Nigeria’s energy transition and broader economic advancement.
