UNGA 2025: Lokpobiri Urges Global Investors To Invest In Nigeria

 

The Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D, has called on 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, the Honorable Minister  highlighted the country’s renewed policy focus and expanding market potential.

In a keynote  address 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 within the week, Lokpobiri stated that the time to invest was not just now, but was also ripe.

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.

Senator 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 emphasized 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.

A statement by Nneamaka Okafor

SA Media and Communication to the Minister reads: “The heart of Nigeria’s renewed energy agenda is a clear and deliberate policy direction: to open our oil sector to deeper, smarter, and be  more strategic.

"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.

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

“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.

“We are fully aligned with the Paris Agreement, and remain committed to cleaner, more sustainable exploration. 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.” The statement concluded.