The Federal Government of Nigeria has pledged its support for Renaissance Africa Energy Company Limited as the firm moves to boost Nigeria’s oil and gas production by 40 percent following Shell’s exit from onshore operations.
A statement on Thursday, November 13, 2025, revealed that at the 43rd Annual International Conference of the Nigerian Association of Petroleum Explorationists (NAPE), the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, praised Renaissance for its leadership and swift progress since taking over operations less than a year ago.
Lokpobiri noted that the $2.4 billion acquisition, which positioned Renaissance as the operator of Nigeria’s largest oil and gas joint venture, has already delivered tangible results in production and gas supply.
During his visit to the company’s exhibition booth, the Chairman of Renaissance’s Board, Dr. Layi Fatona, reaffirmed the firm’s commitment to sustaining its growth trajectory.
He disclosed that production has risen by over 40 percent since the acquisition, while uninterrupted gas supply to the Nigeria LNG plant has been restored.
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“Renaissance operates across onshore and shallow-water terrains, including the Bonny and Forcados export terminals and the Sea Eagle FPSO.
“We recognize how vital our success is to Nigeria’s energy future and remain focused on our mission.”
He added that Nigeria retains key advantages in the global energy landscape, including vast reserves, a young population, and a resilient entrepreneurial spirit and emphasized the company’s dedication to nurturing young talent in the energy sector to drive industrial growth.
