Reforms being implemented in the oil and gas sector will position Nigeria as the preferred investment destination in Africa, a socio-political pressure group, the Renewed Hope Ambassadors (RHA) said on Thursday.

Reacting to issues in the oil and gas sector, including the leadership change at the Nigeria National Petroleum Company Limited, NNPCL, the group noted that reforms being implemented by President Bola Ahmed Tinubu are yielding results.

DAILY POST reported that Tinubu on Wednesday sacked the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, replacing him with

Engineer Bashir Bayo Ojulari.

The President equally dissolved the NNPCL board, removing the chairman, Chief Pius Akinyelure. Ahmadu Musa Kida was appointed as the new head of the board.

In the statement signed by its Secretary-General, Opialu F. Opialu, RHA noted that Tinubu’s reforms in the oil and gas sector are designed to address challenges such as declining investment, low production levels and inadequate infrastructure.

Noting that the impact of the reforms are already being felt with increased investor interest and activity in the sector, RHA commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Communications Commission (NCC) for their regulatory efficiency and promoting transparency and accountability.