SEN. LOKPOBIRI SAYS NIGERIA READY FOR FRESH ENERGY INVESTMENTS

Sen. Heineken Lokpobiri, the Minister of State for Petroleum Resources, Oil, has said Nigeria is now better positioned to attract long-term investment in the energy sector, stressing that readiness goes beyond the size of the country’s hydrocarbon reserves.

Sen. Lokpobiri stated this while delivering his ministerial address at the opening of the Nigeria International Energy Summit, NIES 2026, held at the State House Banquet Hall in Abuja. He said Nigeria’s wide spread of deepwater, shallow water and onshore assets must be supported by clear policies and a stable business environment to attract investors.

According to him, the Federal Government is deliberately improving policy clarity and predictability to build investor confidence and ensure competitiveness within the global energy market. He noted that these efforts are already yielding results, as Nigeria secured four out of Africa’s seven major Final Investment Decisions between 2024 and 2025.

The minister said recent gains in the petroleum sector reflect ongoing reforms under the administration of President Bola Tinubu, including the implementation of the Petroleum Industry Act and the removal of fuel subsidies. He added that these reforms have helped stabilise the market, increase rig activities, conclude divestment deals and stimulate growth in the downstream sector.

Sen. Lokpobiri said with reforms taking shape and leadership commitment driving progress, Nigeria is open for business. He invited local and international stakeholders to partner with the country in building a profitable and sustainable energy future for Africa.

Reported by Bright Okpo