The Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has delivered a stirring call to action at the 2025 Nigerian Oil and Gas (NOG) Conference, urging industry stakeholders to convert Nigeria’s abundant petroleum assets into measurable output rather than leaving them dormant or underutilised.
Speaking during the opening ceremony of the conference themed “Accelerating Energy Progress Through Investment, Global Partnerships and Innovation”, Lokpobiri stressed that the time for lofty promises and vague commitments in the oil and gas sector is over.
What Nigeria now requires, he emphasised, is bold and collaborative action that reflects genuine commitment to national development.
“Every year, the NOG week gives us a mirror, a chance to reflect on where we are, a compass to define where we want to go, and a map to strategise how to get there,” he said. “This year… we are compelled to do more than just talk. We are compelled to act boldly and collaboratively.”
Senator Lokpobiri did not mince words in expressing dissatisfaction with the current state of oil production in Nigeria. He warned that the Federal Government would no longer tolerate operators who lack the capacity—either financial or technical—to maximise the value of their upstream oil and gas assets.
“It is no longer acceptable for critical national resources to remain in the hands of companies that lack the technical or financial capacity to optimise them,” he declared. “Worse still are those who use such licenses merely as a lever to access scarce capital, only to divert it to unrelated ventures.”
Calling for a total paradigm shift, the Minister emphasised that Joint Ventures and Financial/Technical Services Agreements (FTSAs) must not be misused as mechanisms for complacency or monopoly.
“Let’s be clear: Joint Ventures and FTSAs are not weapons to hold the sector hostage. They are frameworks built on trust that you will act in the nation’s best interest. If you cannot, it’s time to step aside or step up through partnership.”
Lokpobiri revealed that President Bola Ahmed Tinubu has mandated the newly constituted board of NNPC Ltd to undertake a thorough review of all existing operatorship arrangements in the upstream sector. He said the move aims to unlock value from dormant and shut-in assets.
“The era of dormant fields and underperforming assets must give way to action. Unlock dormant and untapped assets. Re-enter shut-in wells. Convert dormant licenses into measurable output,” he stated.
Citing a concerning trend, the Minister noted that Nigeria’s oil production before the enactment of the Petroleum Industry Act (PIA) was higher than current figures, despite the incentives and reforms introduced since then.
“This cannot be a Governance problem. I want to put it to you, the operators, what happened? How did we get here? And more importantly, what are we going to do differently?” he asked pointedly.
Lokpobiri reflected on last year’s conference, where stakeholders passionately vowed to increase oil production. A year later, he questioned what tangible improvements had occurred.
“Yet today, we find ourselves asking: what has truly changed? What tangible difference has been made?” he said. “The Federal Government has implemented far-reaching reforms… but the question remains: where is the output?”
He issued a stern reminder that improving Nigeria’s global standing in oil production is no longer optional but essential.
“If we are serious about ramping up production and reclaiming Nigeria’s rightful place among leading oil producers, then every operator must show cause—by performance, not promises,” he insisted.
The Minister also addressed the abuse of Nigeria’s Local Content Act, lamenting a past in which politically connected but technically incapable firms cornered contracts only to subcontract them.
“With the advent of President Bola Ahmed Tinubu, we are returning to the true tenets of the Act—one that allows companies, both large and small, to coexist and operate side-by-side,” he assured. “The era of briefcase contractors winning jobs only to sublet them to technically capable firms is coming to an end.”
Highlighting Nigeria’s growing role in global energy diplomacy, Lokpobiri emphasized the importance of partnerships, innovation, and regional integration. He reaffirmed Nigeria’s commitment to engaging international institutions such as APPO, IEC, and OPEC, as well as driving Africa’s prosperity through cooperative ventures.
“We therefore see global partnerships as a central pillar in our national energy strategy,” he said. “We welcome partners who understand the Nigerian context and are committed to mutual value creation.”
On the progress of the African Energy Bank—a pan-African initiative aimed at financing energy projects across the continent—Lokpobiri expressed optimism.
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“We are firmly on course and steadily approaching our official launch… Nigeria, as host country, has fulfilled all its legal and ancillary obligations,” he disclosed. “Africa is not asleep. We are determined to take our place in the global energy financing space.”
Concluding his address, Lokpobiri urged stakeholders to move beyond ceremonial dialogue and convert ideas into impactful execution.
“This is not just a conference. It is a call to action. A call to move from rhetoric to results,” he declared. “We have the resources. We have the talent. And now, we are building the right environment.”
He concluded with an appeal for urgency, unity, and vision:
“Let us accelerate progress not for ourselves alone, but for the millions of Nigerians whose lives depend on the value we create in this industry. May the conversations, partnerships, and solutions that emerge from this gathering lead to action that outlives this room and shapes the future of our great nation.”
