By Barbara Nwaiwu
The Managing Director and Chief Executive Officer of Renaissance Africa Energy Company, Tony Attah, has called for a stronger focus on tangible outcomes in Nigeria’s economic reform process, saying reliable energy supply remains the most important measure of real economic transformation.
Attah made the call on Tuesday during the 20th Annual Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL) in Abuja, where industry leaders and policymakers examined whether ongoing macroeconomic reforms are producing meaningful results for businesses and citizens.
He said the success of economic reforms should be assessed through improvements in productivity and industrial performance, particularly by ensuring stable and affordable electricity supply.
“Energy is the single most important input into Nigeria’s real sector, and today, it is also its biggest constraint,” Attah said.
According to him, the continued dependence of businesses on costly self-generated power has significantly increased operating expenses and constrained growth across key sectors of the economy.
Attah described Renaissance Africa Energy as a strategic response to Nigeria’s current economic transition, noting that the company is focused on promoting energy security, industrialisation and sustainable operations while advancing African-led value creation.
Highlighting the company’s performance since taking over from the Shell Petroleum Development Company, he said Renaissance recorded more than 40 per cent growth in upstream production within its first 100 days of operation.
He explained that the increase in production has expanded the availability of feedstock for electricity generation and industrial activities, adding that the company’s investment in gas development is aimed at supporting affordable and scalable energy supply across the country.
Attah noted that natural gas remains critical to industrial power generation and economic growth, making it central to the country’s long-term energy strategy.
While describing Nigeria as one of Africa’s most attractive destinations for energy investment, he acknowledged challenges such as foreign exchange volatility, infrastructure deficits and security concerns.
He characterised the operating environment as “high-return, high-friction,” and stressed the need for the next phase of reforms to address operational bottlenecks, improve regulatory consistency and establish bankable pricing frameworks capable of attracting long term investment.
According to him, the country requires more than affordable electricity, stressing the importance of dependable and contractable power supported by a commercially viable energy market.
“Nigeria’s challenge is no longer whether reforms are being introduced, but whether they are delivering tangible results that businesses and citizens can feel,” he said.
Attah added that Renaissance Africa Energy is positioning itself to support this transition by converting the country’s energy resources into measurable economic value and supporting broader industrial development.
