Tag: Lokpobiri

  • Lokpobiri, Ekpo push for collaboration in local content implementation

    Lokpobiri, Ekpo push for collaboration in local content implementation

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and the Minister of State for Petroleum Resources (Gas) Hon Ekperikpe Ekpo yesterday called for collaborative approaches to strengthen local content implementation in the oil and gas.

    Speaking at the Nigerian International Energy Summit (NIES 2026) in Abuja, Lokpobiri described local content as basic to the attainment of the growth of African energy and by extension the economy.

    He said:  “We had the privilege of becoming Ministers. I hear that today’s edition is dedicated to local content. And local content is so fundamental to Africa’s achievement of our energy, you know, growth as a country.”

    The theme of the session was “Local Content: Beyond Compliance: Building African Industrial Powerhouses.”

    He recalled that on assumption of office, one of his initial challenges was local content because the cost of the project was higher in Nigeria than elsewhere in Africa.

    Read Also: Raw materials bill dangerous for trade, says CPPE

    Lamenting, Lokpobiri said: “And so we had to find a solution. Can’t see the reason why a country that is physically at home will have lower project costs than Nigeria. And so we had to tackle that problem.

    “And we found out that the problem was, you know, misapplication of the local content. Literally, I was a senator when the local content law was passed in 2010. And I was a member of the committee.”

    Similarly, Ekpo said historically, local content implementation has been driven largely by compliance, meeting prescribed thresholds for contracts, labour, and ownership.

    He noted that while this has increased participation, it has not always translated into globally competitive indigenous gas companies, advanced technological capability, or deep and sustainable value retention within our economies.

    Ekpo said the session rightly challenged the stakeholders to move beyond compliance toward performance-driven local content, that is, local content that deliberately builds industrial strength and long-term competitiveness.

    The minister stressed that in the gas industry, this means developing robust indigenous capacity across engineering and project execution, gas processing, pipeline construction, operations and maintenance, fabrication, LNG and FLNG services, gas-based manufacturing, and downstream utilization. It means ensuring that Nigerian and African companies are not only present in the value chain, but productive, innovative, bankable, and export ready.

    Meanwhile, the Permanent Secretary, Mrs Patience Oyekunle said the theme of the dialogue is timely.

    According to Director Midstream and Downstream, Irene Ikemba, who represented her, across Africa, the energy future must be deliberately shaped by capability, competitiveness, and shared prosperity.

    She said the summit theme “Energy for Peace and Prosperity: Securing Our Shared Future” speaks directly to the task before us. Energy is not merely a commodity; it is a catalyst for stability, industrialisation, and inclusive growth, and national security.

  • Lokpobiri, Ekpo make case for local content at NIES

    Lokpobiri, Ekpo make case for local content at NIES

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and the Minister of State for Petroleum Resources (Gas) Hon Ekperikpe Ekpo on Monday called for the achievement of local content in the industry.

    Speaking at the Nigerian International Energy Summit (NIES 2026) in Abuja, Lokpobiri described local content as basic to the attainment of the growth of African energy and by extension economy.

    His words, “We had the privilege of becoming Ministers. I hear that today’s edition is dedicated to local content. And local content is so fundamental to Africa’s achievement of our energy, you know, growth as a country.”

    The theme of the session was “Local Content: Beyond Compliance: Building African Industrial Powerhouses.”

    He recalled that on assumption of office, one of his initial challenges was local content because the cost of project was higher in Nigeria than elsewhere in Africa.

    Lamenting Lokpobiri added that “And so we had to find a solution. Can’t see the reason why a country that is physically at home will have lower project costs than Nigeria. And so we had to tackle that problem.

    “And we found out that the problem was, you know, misapplication of the local content. Literally, I was a senator when the local content law was passed in 2010. And I was a member of the committee.”

    Similarly, Ekpo said historically, local content implementation has been driven largely by compliance, meeting prescribed thresholds for contracts, labour, and ownership. 

    Read Also: 2027: Diri, Lokpobiri lead APC e-registration drive in Bayelsa, vow to deliver state for Tinubu

    He noted that while this has increased participation, it has not always translated into globally competitive indigenous gas companies, advanced technological capability, or deep and sustainable value retention within our economies.

    Ekpo said the session rightly challenged the stakeholders to move beyond compliance toward performance-driven local content, that is, local content that deliberately builds industrial strength and long-term competitiveness.

    The minister stressed that in the gas industry, this means developing robust indigenous capacity across engineering and project execution, gas processing, pipeline construction, operations and maintenance, fabrication, LNG and FLNG services, gas-based manufacturing, and downstream utilization. It means ensuring that Nigerian and African companies are not only present in the value chain, but productive, innovative, bankable, and export ready.

    Meanwhile, the Permanent Secretary, Mrs Patience Oyekunle said the theme the dialogue is timely.

    According to Director Midstream and Downstream, Irene Ikemba, who represented her, across Africa, energy future must be deliberately shaped by capability, competitiveness, and shared prosperity. 

    She said the  Summit theme “Energy for Peace and Prosperity: Securing Our Shared Future” Speaks directly to the task before us. Energy is not merely a commodity; it is a catalyst for stability, industrialisation, and inclusive growth, and National Security.  

  • 2027: Diri, Lokpobiri lead APC e-registration drive in Bayelsa, vow to deliver state for Tinubu

    2027: Diri, Lokpobiri lead APC e-registration drive in Bayelsa, vow to deliver state for Tinubu

    Bayelsa State Governor, Douye Diri, alongside the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has taken centre stage in the All Progressives Congress (APC) e-registration drive aimed at consolidating the party’s membership across the state.

    Governor Diri, speaking at the official flag-off, emphasised the importance of unity and mass registration for the party. 

    He reminded participants that APC’s symbol—the broom—represents strength in togetherness. “You can easily break a single broomstick, but when all the sticks come together, they are unbreakable,” he said.

    The governor urged all APC members, both long-standing and recent defectors, to register formally. 

    “We are not a small state,” he asserted, encouraging members to increase party numbers and ensure APC remains the dominant political force in the region. He also stressed the need for members to possess both their APC membership cards and valid INEC voter cards, highlighting that this would safeguard the party’s integrity and prevent vote manipulation.

    Read Also: Oil fields dispute: Court orders Lokpobiri, others to maintain status quo

    Senator Lokpobiri described the electronic registration as a defining step toward party unity, strength, and electoral success.

    Addressing party stakeholders, he noted that the gathering marked a historic moment, bringing together leaders who had not worked collaboratively for years due to political differences. 

    “This exercise enables APC to accurately determine its support base in Bayelsa and better organise its structure ahead of future elections,” he said.

    Lokpobiri vows to deliver all elective offices for APC and return President Tinubu elected in 2027.

    Lokpobiri commended Governor Diri for his leadership and reconciliatory approach, which he said had restored harmony within the party. 

    “Through dialogue and personal intervention, the Governor persuaded party leaders to make compromises and embrace a new spirit of cooperation,” he noted, adding that former rivals were now working collectively toward shared goals.

    Describing APC in Bayelsa as united and indivisible, the minister stressed that the party now operates with a common objective of winning all elective positions. 

    He urged party leaders and stakeholders to mobilize their supporters for the e-registration exercise, emphasizing that active participation would position the party for greater success and stability in the state.

    Governor Diri also reminded attendees that political parties should foster development, not disunity. “Before political parties, we were all Bayelsans. Differences in party affiliations should not separate us; they should help us grow and develop,” he said.

    The event concluded with both leaders calling on party members to return to their constituencies, mobilize supporters, and ensure broad participation in the APC e-registration. The exercise, they noted, would not only strength. 

  • Oil fields dispute: Court orders Lokpobiri, others to maintain status quo

    Oil fields dispute: Court orders Lokpobiri, others to maintain status quo

    The Federal High Court in Abuja, yesterday ordered the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, and others to maintain status quo pending the hearing and determination of a case involving four oil fields.

    Justice Emeka Nwite gave the order after Ambrose Unaeze, who appeared for the plaintiffs; Hi-Rev Oil Limited and Hi-Rev Exploration and Production Ltd, moved the application to the effect.

    The News Agency of Nigeria (NAN) reports that the 2nd and 3rd defendants in the suit, marked: FHC/ABJ/CS/2678/2025, are the Attorney-General of Federation (AGF) and Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

    Justice Nwite had, on Dec. 22, 2025, ordered the minister, the AGF and NUPRC to show cause why the reliefs of the plaintiffs in their motion ex-parte should not be granted.

    The judge made the order after Unaeze moved the motion dated and filed on Dec. 11.

    The oil and gas companies had sought an order of interim injunction restraining the defendants or whomsoever is acting on their behest from selling, assigning or allocating the Yorla South (Petroleum Prospecting Licence (PPL) 2A32 – OML 11) located in Rivers.

    The order is to also restrain the defendants from allocating Akiapiri (PPL 2A48 – OML 25) located in Bayelsa; Diebu Creek East (OML 32) also located in Bayelsa and Idiok (PPL 2A41 – OML 67) located in Akwa Ibom, “same being direct replacements for Utapate Oil Field (formerly part of OML 13) and OPL 2002, previously allocated to the plaintiff but was later withdrawn by the defendants, pending the hearing of the interlocutory application in this suit.”

    Giving four grounds why their application should be granted, the lawyer said the companies were previously allocated the Utapate Oil Field (formerly part of OML 13) and OPL 2002, but were unreasonably withdrawn by the Federal Government.

    He said parties had a settlement agreement for the replacement of the Utapate Oil Field, which was accepted or adopted and it became consent judgement.

    Unaeze stated that the firms had taken substantial steps and offered consideration in respect of the grant of the licence to operate OPL and licence to establish a petroleum refinery.

    Read Also: Lokpobiri mourns passing of Bayelsa deputy gov Ewhrudjakpo

    He argued that the companies’ legal right is being threatened by the defendants, pursuant to the threat to sell or allocate the oil fields at Yorla South, Akiapiri, Diebu Creek East, and Idiok to third parties via the defendants’ offer to the public for round bid, hence, the need for the interim order.

    Although the judge did not grant the order, he, however, ordered the defendants to appear on Jan. 5 (today).

    When the matter was called yesterday, Unaeze informed the court that an order was made for the defendants to show cause why their relief should not be granted.

    The lawyer said the 1st and 3rd defendants (minister and NUPRC) just served on him their memorandum of conditional appearance, counter affidavit and preliminary objection in court and that he would need time to respond.

    Unaeze, however, applied that the defendants, who were duly represented in court by their lawyers, should give an undertaking not to take any action that might affect the subject matter pending the hearing and determination of the case.

    “This is because of the nature of the case and the risk the res (subject matter) may face before the next adjourned date,” he said.

    Speaking, Oyinlade Koleoso, who appeared for the 2nd defendant (AGF), said they filed a counter affidavit and a preliminary objection, though they were yet to serve same.

    When the judge asked him if he had filed affidavit to show cause, Koleose said he believed that the processes he had filed would take care of that.

    The lawyer told the court that based on Unaeze’s application, their submission was that the AGF was not in the position to allocate oil blocks.

    The 3rd defendant (NUPRC)’s lawyer, J. A. Olugbade, disagreed with Unaeze’s application.

    He said he opposed the plaintiffs lawyer’s prayer since he had already filed a counter affidavit and a preliminary objection.

    B. J. Tabaya, counsel for the 1st defendant (minister), said he did not have the instruction of his client to make such undertaking sought by Unaeze.

    “But when a case is in court, what are you supposed to do?” the judge asked Tabaya.

    “Party will maintain status quo,” the lawyer responded.

    “So go and tell your client that as far as this matter is before the court, parties should maintain status quo,” the judge said.

    Delivering the ruling, Justice Nwite, who granted Unaeze’s application, ordered the parties to maintain status quo pending the hearing and determination of the matter. The judge then adjourned the matter until Januaty 26 for hearing.

  • African Energy Bank ready for APPPO, Afreximbank opening

    African Energy Bank ready for APPPO, Afreximbank opening

    Arising from the inspection of the furnishing of the African Energy Bank (AEB) corporate head office in Abuja yesterday, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has expressed satisfaction at the completion, noting that the bank is now ready for commissioning by the African Petroleum Producers Association (APPO) and the Afrexim Bank.

    He described the promoters as the drivers of the AEB, insisting that Nigeria has fulfilled its obligations as the host country, furnishing the bank to taste in the best location.

    His words: “I came to inspect the headquarters furnishing of the Africa Energy Bank and I am happy to disclose to the world and Nigerians and Africans that Nigeria has delivered on all the obligations made for us to fulfill as host country.

    “The headquarters is ready, tastefully furnished in the best location and so we are ready for the bank to take off. So, we are waiting for, you know, APPO and African Exim Bank that are the drivers of this process, you know, to facilitate the takeoff.”

    He reiterated that it is noteworthy to say that the building is set and the next thing is to invite the promoters: Afrexim and APPO to declare it open.

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    He said, “But what Nigerians, you know, and the world need to know today is that as a host country we have met all our obligations and the building is ready. The bank is ready to go.

    “But we’re trying to invite, you know, the APPO, you know, ministers, you know, to come to Nigeria so that we can show to them and say, look, this is what we promised. We fulfilled it. The building is ready.”

    Continuing, Lokpobiri said, “The important point is that we have met our obligation.

    “As a host country, we provided, you know, everything that is expected of us as host country, you know, to provide. So, is this an indication that the bank is well on its way? Yes, absolutely.”

  • Lokpobiri dismisses probe against Frontier Fund

    Lokpobiri dismisses probe against Frontier Fund

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has dismissed reports, in section of the media suggesting that the Federal Government plans to probe an alleged diversion of the Frontier Exploration Fund, describing such reports as misleading and inaccurate.

    In a statement by his Special Assistant on Media and Communication, Nneamaka Okafor, the Minister clarified that at no point during his remarks at the 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), held in Lagos on Monday, did he announce or hint at any investigation into the Fund.

    Lokpobiri said he merely emphasized the need for the optimal and purposeful deployment of the Frontier Exploration Fund, as provided for under the Petroleum Industry Act (PIA), to accelerate exploration in Nigeria’s frontier basins such as Chad, Anambra, Sokoto, and Benue, among others.

    “The Minister’s comments were aimed at encouraging renewed commitment to the objectives of the Frontier Exploration Fund — not at alleging wrongdoing or announcing any formal probe,” the statement reads. 

    Lokpobiri reiterated that the Fund remains a strategic tool for unlocking Nigeria’s untapped hydrocarbon potential and must be efficiently utilized to stimulate investment, enhance exploration, and secure the nation’s energy future.

    He also reaffirmed the Tinubu administration’s unwavering commitment to transparency, accountability, and efficiency in managing all public funds, especially within the petroleum sector.

    The statement urged the media to exercise due diligence and accuracy in reporting official statements, ensuring that the Minister’s remarks are represented faithfully and in their proper context.

  • Lokpobiri flags off EMEM FPSO, reaffirms commitment to transparency, investor confidence

    Lokpobiri flags off EMEM FPSO, reaffirms commitment to transparency, investor confidence

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed the Federal Government’s commitment to transparency, due process, and investor confidence in Nigeria’s oil and gas industry.

    He made this known during the sail-away and flag-off ceremony of the EMEM Floating Production, Storage and Offloading (FPSO) vessel, developed by Oriental Energy Resources Limited (OERL) for the Okwok Field Development offshore Nigeria.

    Lokpobiri described the launch of the EMEM FPSO as a “landmark milestone” that highlights Nigeria’s ongoing progress toward sustainably ramping up crude oil production.

    In a statement by Nneamaka Okafor, Special Assistant on Media and Communications to the Minister of State for Petroleum Resources (Oil), Lokpobiri noted that the project symbolizes not only advanced engineering but also a vote of confidence in the resilience of the nation’s petroleum sector.

    “This event is not just the launch of a vessel; it is a statement of confidence in Nigeria’s petroleum industry and a demonstration of the kind of bold, forward-looking investments we need to achieve our national goals,” Lokpobiri said.

    “With the commissioning of the EMEM FPSO, we are not just increasing barrels; we are also creating the revenue streams required to fund our national development agenda.”

    The Minister also reiterated the Federal Government’s commitment to fairness and transparency in project approvals, stressing that compliance and merit — not personal connections — remain the guiding principles.

    “Investors and operators do not need to know me personally before their applications are approved. As long as you comply with the extant laws and regulations, your projects will receive timely consideration,” he said. “For instance, this is my first time meeting the Chairman of Oriental Energy Resources Limited, yet the approval of this project was based solely on compliance and merit.”

    In his remarks, Alhaji (Dr.) Mohammed Indimi, OFR, Chairman of Oriental Energy Resources Limited, expressed appreciation to the Federal Government and industry regulators for creating an enabling environment for indigenous operators to thrive.

    “In 2022, we made the ambitious decision to develop the Okwok Field entirely independently. The sail-away of the EMEM FPSO is a critical milestone in the field development process,” Indimi stated.

    “The Minister didn’t have to know me or our company before providing the necessary support we required. This reflects the posture of this administration, and I commend him for that.”

    Senator Lokpobiri commended Oriental Energy for its innovation, resilience, and contribution to national development, adding that the project exemplifies the success of Nigeria’s local content policy and the drive toward energy security.

    The commissioning of the EMEM FPSO represents another significant stride toward achieving Nigeria’s broader objectives of sustainable production growth, indigenous participation, and value creation across the petroleum value chain.

  • Lokpobiri hails Tompolo on peace in Niger Delta, seeks expansion of security contracts

    Lokpobiri hails Tompolo on peace in Niger Delta, seeks expansion of security contracts

    The National President of the Ijaw Youth Council (IYC) Worldwide, Jonathan Lokpobiri, has lauded High Chief. Government Oweizide Ekpemupolo, alias Tompolo for his frantic efforts in restoring peace in the Niger Delta region through his pipeline surveillance contract job by empowering thousands of youths, men and women in the region over the last three years, while appealing to the Federal Government for expansion of the scope of Tantita Security Services and Maton Engineering contracts.

    Lokpobiri made the commendation and appeal on Tuesday at the Community Critical Stakeholders Appreciation meeting held at the EUI Event Centre in Port Harcourt City, courtesy of Tantita Security Services Limited and Maton Engineering Nig Limited, two major oil and gas infrastructure surveillance contractors in the region.

    The ceremony’s mandate was to review significant progress and officially appreciate the vital role community leaders and traditional rulers play in securing Nigeria’s critical energy assets.

    Addressing a room filled with traditional leaders, security chiefs, and youth representatives, Sir Jonathan Lokpobiri Snr lauded the host companies for their consistently increasing capacity, which he directly linked to a crucial boost in Nigeria’s daily oil production figures.

    The IYC President then made a powerful and sincere acknowledgment of Chief Government Oweizide Ekpempolo (Tompolo), recognizing his “huge sacrifices and role in the sustenance of peace and security in the Niger Delta region.”

    “His name resonates positively with all sons and daughters of the region, especially given his background in the arms struggle,” Lokpobiri stated emphatically. “Today we are enjoying relative peace and security in the region courtesy of his efforts.”

    Read Also: 2027: Ex-agitators rally support for Tompolo’s door-to-door campaign for Tinubu, Oborevwori

    Building on the proven success of the security contracts, the IYC leader pivoted to a demand for strategic expansion. Sir Lokpobiri strongly appealed to the Federal Government to significantly increase the funding and mandate of Tantita Security Services and Maton Engineering.

    He argued that their capacity should be expanded beyond securing pipelines and oil infrastructure to include the protection of Terminals and well heads, ensuring they can continue to deliver maximally on national security and production goals.

    Furthermore, Lokpobiri issued a passionate call for environmental equity, urging the Federal Government to immediately extend the ongoing clean-up exercise in Ogoniland to all communities across the entire Niger Delta region. He stressed that these host communities are negatively affected by daily oil exploration activities and deserve comprehensive remediation.

    In commending the contractors’ leadership for their “human face” approach in involving critical community stakeholders, Sir Lokpobiri confirmed that the Niger Delta environment is “gradually healing” from the widespread damage caused by illegal oil bunkering and oil theft.

    The high-level attendance underscored the deep commitment of regional stakeholders to maintaining this trajectory of peace and infrastructure protection.

  • Divestments add 200,000b/d to national production, says Lokpobiri

    Divestments add 200,000b/d to national production, says Lokpobiri

    The Minister of State for Petroleum Resources Oil Senator Heineken Lokpobiri, has said the divestments by the International Oil Companies (IOCs) in the Nigerian petroleum upstream sector have added 200,000 barrels per day to national production.

    He also said the divestments have unlocked over $5.5 billion in Final Investment Decisions (FIDs) within months.

    His Special Adviser on Media and Communication, Nneamaka Okafor, made this known in a press statement on Thursday.

    The statement said, “Of particular note were the recent asset divestments by International Oil Companies (IOCs), which the Minister said have unlocked over $5.5 billion in Final Investment Decisions (FIDs) within months.

     “These are not just transfers of assets; they are transfers of confidence, capability, and ownership. The divestments have already added approximately 200,000 barrels per day to national production.”

    Lokpobiri spoke on behalf of President Bola Ahmed Tinubu at the Africa Energy Week in Cape Town, South Africa.

    He declared that Nigeria is “open for business” and actively pursuing policies that prioritize investment, efficiency, and long-term growth in the oil sector.

    “This gathering is more than a conference, it is a call to action,” he said, stressing that Nigeria is ready not just to participate in the global energy market, but to lead reform and growth on the African continent.

    Lokpobiri outlined the bold policy measures implemented under President Tinubu’s administration, particularly the Petroleum Industry Act (PIA), which provides a clear and predictable fiscal and regulatory environment for investors.

     The PIA has laid the foundation for licensing transparency, host community engagement, strengthened regulatory oversight, and a fair contractual framework. “What makes Nigeria now different is the legal, regulatory, financial, and structural transformation we are delivering,” the Minister said.

    Nigeria’s upstream sector is showing signs of strong recovery. The “Project One Million Barrels” initiative, launched in October 2024, has raised daily crude oil production to between 1.7 and 1.83 million barrels per day, with a notable increase of 300,000 barrels per day in July 2025 alone.

    Additionally, the number of active drilling rigs has grown from 31 in January to 50 by July 2025, a clear signal that reforms are unlocking value across the sector.

    Of particular note were the recent asset divestments by International Oil Companies (IOCs), which the Minister said have unlocked over $5.5 billion in Final Investment Decisions (FIDs) within months.

     “These are not just transfers of assets; they are transfers of confidence, capability, and ownership.

    The divestments have already added approximately 200,000 barrels per day to national production.”

    In the broader African context, Lokpobiri urged the continent to retain more value from its hydrocarbon resources by focusing on infrastructure, industrial development, and localized value chains.

    He noted that Africa spends over $120 billion annually on hydrocarbons, largely through imports, calling it a missed opportunity for economic transformation.

    He advocated for stronger intra-African collaboration and financing, emphasizing that Africa holds nearly $4 trillion in domestic capital, including pension and insurance funds. “The question is no longer about the availability of funds, but how we can channel them into productive investments on our continent,” he said.

    Addressing the topic of the global energy conversation, the Minister called for balance and equity. He insisted that the narrative must shift toward a diverse energy mix, not the abandonment of any resource.

    “The focus should be on availability, accessibility, and affordability of all forms of energy,” he stressed. He made it clear that Nigeria, like other nations, will continue to utilize its oil resources responsibly while building a diversified and sustainable energy base.

     Lokpobiri reaffirmed Nigeria’s role as a leading energy player in Africa. “We are offering opportunities at scale, reform with consistency, incentives with clarity, local participation with respect, and a vision that modernizes with purpose,” he declared.

    To global investors, he extended a direct invitation: “Come to Nigeria. Be part of the energy revolution.” With strong reforms, ambitious targets, and an open-door policy, Nigeria is charting a bold path forward in Africa’s energy future.

  • Lokpobiri to global investors: be part of Nigeria’s energy success story

    Lokpobiri to global investors: be part of Nigeria’s energy success story

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has told global investors that now is the time for U.S. and global investors to become part of Nigeria’s energy success story.

    He said, “Now is the time for U.S. and global investors to become part of Nigeria’s energy success story.”

    The minister tasked the global investors to seize emerging opportunities in Nigeria’s rapidly transforming oil sector, citing strong reforms, enhanced production capacity, and regional influence as key drivers of growth.

    Speaking during a keynote remark at the United States–Nigeria Council’s session on oil sector collaboration, held on the sidelines of the ongoing United Nations General Assembly (UNGA) 2025 in New York, Lokpobiri highlighted the country’s renewed policy focus and expanding market potential.

    His Special Adviser on Media and Communication, Nneamaka Okafor, made this known in a press statement yesterday.

    The statement quoted the minister as saying, “At the heart of Nigeria’s renewed energy agenda is a clear and deliberate policy direction: to open our oil sector to deeper, smarter, and more strategic partnerships. “The time to invest is not just now — it is ripe.

    “Recall that for over ten years, prior to the coming of President Bola Ahmed Tinubu, Nigeria did not have any new investment in the oil sector, but with the reforms we have carried out, which have created an atmosphere that is globally competitive and attractive, we now have new investments running into billions of dollars”, the minister added.

    “All inactive blocks during the period of no investments are in the basket now and up for grabs. We have a longstanding relationship with the US and US companies. Beyond these relationships, there are new opportunities for new investors, both in the upstream sector and other sectors.”

    The Minister noted that, under the leadership of President Bola Ahmed Tinubu, Nigeria’s oil sector has witnessed significant progress over the past two years, including increased production output and a more attractive investment climate.

    Read Also: Lokpobiri, others for energy sustainability conference

    “Thanks to bold reforms and globally competitive fiscals, Nigeria has significantly ramped up production and repositioned itself as a dependable energy hub across West Africa and the continent,” he said.

    Lokpobiri attributed this transformation to the successful implementation of the Petroleum Industry Act (PIA), which he described as a “robust, investor-friendly legal framework” that is driving growth and restoring investor confidence.

    He also emphasised Nigeria’s commitment to energy transition efforts, affirming that the country would continue to leverage its fossil fuel reserves to finance its energy mix, while adhering to international climate agreements.

    “We are fully aligned with the Paris Agreement, and remain committed to cleaner, more sustainable exploration,” he said. “Our doors are open, our laws are clear, and our environment is conducive — now is the time for U.S. and global investors to become part of Nigeria’s energy success story.”