The Presidency has clarified that contrary to certain opinions, International Oil Companies (IOCs) are not leaving Nigeria but are instead rebalancing their operations and shifting focus to deep-water assets. This was disclosed by Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during an interview in Abuja on Sunday. Speaking in commemoration of President Tinubu’s second year in office, Verheijen explained that while IOCs are refocusing, Nigerian independent firms are stepping up to lead onshore operations. “Indigenous companies are building capacity, earning community trust, and, over time, we expect them to expand regionally and globally,” she said. She highlighted the growing strength of local firms, evident in their ability to acquire assets divested by IOCs. According to her, Nigeria has seen an increase in indigenous equity in gas, rising from 69% to 83%. Verheijen called on African investors, development finance institutions (DFIs), banks, pension funds, and sovereign entities to be strategic and proactive in filling the space left by the IOCs. She also urged industry leaders across Africa to take inspiration from Nigeria’s approach, emphasizing that the continent must move beyond appealing for support and instead position itself as a viable investment destination. Reflecting on her legacy, Verheijen expressed her hope to see more Nigerians gain access to energy, secure well-paying jobs, and develop the capacity to diversify the economy and compete effectively on a global scale.