Renaissance CEO urges focus on real outcomes of Nigeria’s economic reform – EnviroNews

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The Managing Director/CEO of Renaissance Africa Energy Company, Tony Attah, has called for a decisive shift from policy rhetoric to measurable outcomes in Nigeria’s reform journey, stressing that reliable energy supply remains the clearest indicator of real economic transformation.

Attah made this call on Tuesday, June 9, 2026, in Abuja at the 20th Annual Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL), where he joined industry and policy leaders to examine whether ongoing macroeconomic reforms are translating into tangible results.

He noted that while reforms are underway, their true impact must be measured by improvements in productivity and industrial performance, particularly through consistent and affordable power supply.

“Energy is the single most important input into Nigeria’s real sector, and today, it is also its biggest constraint,” Attah said, pointing to the persistent reliance on expensive self-generation by businesses as a key driver of high operating costs.

Positioning Renaissance Africa Energy within this context, Attah described the company as a timely and strategic response to Nigeria’s economic inflection point. He said the company’s vision is anchored on enabling energy security and industrialisation through sustainable operations, while advancing African-led value creation.

Highlighting the company’s early performance, Attah said Renaissance achieved over 40 percent growth in upstream production within 100 days of transitioning from The Shell Petroleum Development Company, expanding the availability of feedstock for power generation and industrial use. He added that the company’s strong focus on gas development is central to unlocking scalable, affordable energy for Nigeria, noting that gas remains the backbone of industrial power.

While describing Nigeria as one of Africa’s most attractive energy investment destinations, Attah acknowledged existing challenges, including foreign exchange volatility, infrastructure gaps, and security risks. He characterised the market as “high-return, high-friction,” noting that the next phase of reform must prioritise reducing operational bottlenecks, strengthening regulatory consistency, and ensuring bankable pricing frameworks.

According to him, Nigeria does not simply need cheaper electricity, but reliable and contractable power supported by a commercially viable energy market that can attract sustained investment and drive supply improvements.

Nigeria’s challenge, he said, “is no longer whether reforms are being introduced, but whether they are delivering tangible results that businesses and citizens can feel.” Renaissance, he said, is positioned at the heart of this transition, working to translate energy potential into real economic value.