From Seyi Tayese, Yenagoa
Nigeria has reaffirmed its commitment to attracting sustainable, long-term investments into its petroleum industry, with the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D., highlighting the country’s vast hydrocarbon resources, ongoing sectoral reforms and strategic position as a gateway to Africa’s energy market.
The Minister stated this while chairing Nigeria’s investment forum, themed “Nigeria – The New Energy Investment Frontier,” and participating in a ministerial panel on global energy at the 25th World Petroleum Congress, held in Riyadh, Saudi Arabia.
Addressing global energy stakeholders, Lokpobiri emphasized the need to pursue energy security and energy mix simultaneously, with investment serving as a critical driver of both objectives.
“From Nigeria’s perspective, our answer begins with a simple principle: energy security and energy mix must be pursued together, and investment must remain at the center of both,” he stated.
He noted that Nigeria’s investment proposition extends beyond its substantial oil and gas reserves to include a large domestic market, a skilled and increasingly specialized workforce, established infrastructure, maritime access and opportunities to reach the wider African market.
As of January 2026, Nigeria’s official reserves stood at approximately 37 billion barrels of oil and condensate and 215 trillion cubic feet of natural gas, providing significant opportunities for industrialization, job creation and economic diversification.
The Minister further highlighted the Petroleum Industry Act 2021 and subsequent government initiatives as critical measures to strengthen regulatory clarity, improve project economics and enhance investor confidence. He also underscored growing opportunities across upstream operations, gas development, liquefied natural gas, refining, petrochemicals and energy infrastructure.
According to him, Nigeria is committed to maximizing domestic value addition by progressively expanding its refining and gas-processing capacity to support manufacturing, power generation and broader economic growth.
“Nigeria remains open to serious, long-term energy investment. We invite capital, technology and strategic partnerships to transform our energy resources into industrial growth, job creation and shared prosperity,” Lokpobiri said.
He reaffirmed the Federal Government’s commitment to continuously improving the investment climate and fostering partnerships that will strengthen Nigeria’s energy security while contributing to a stable, inclusive and sustainable energy future for Africa and the global community.
