- According to him, the country has maintained stability in its upstream sector for over a decade
- Lokpobiri noted that Nigeria had previously struggled to attract investments, but recent fiscal reforms, clearer regulations
- Lokpobiri further stated that efforts are ongoing to strengthen both the upstream and downstream segments of the industry
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has called on global investors to channel their investments into Nigeria’s energy sector, assuring them that recent government reforms have created a stable and attractive business environment.
Speaking at the CERAWeek by S&P Global in Houston, Eko Hot Blog gathered that Lokpobiri highlighted Nigeria’s crude oil as among the best globally and said ongoing engagements with major international oil firms are yielding positive signals.
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He disclosed that discussions have been held with leading companies such as Shell, Chevron, TotalEnergies, Eni, and ExxonMobil, many of which are now considering Nigeria as a priority destination for future investments.
According to him, the country has maintained stability in its upstream sector for over a decade, a factor he said strengthens investor confidence.
Lokpobiri noted that Nigeria had previously struggled to attract investments, but recent fiscal reforms, clearer regulations, and improved legal frameworks have repositioned the country as a competitive destination.
He added that Nigeria’s participation at the global conference was aimed at promoting the country as a reliable alternative for energy investments, especially amid uncertainties in other regions.
The minister also revealed that he held bilateral meetings with several oil companies on the sidelines of the event, reiterating the government’s message that Nigeria is open for business.
He credited the administration of President Bola Tinubu for driving reforms that have revitalised investor interest in the sector.
Lokpobiri further stated that efforts are ongoing to strengthen both the upstream and downstream segments of the industry, positioning Nigeria as a key player in ensuring global energy supply stability.
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