Lokpobiri Touts Nigeria’s Oil Sector Reforms, Invites Global Investors at UNGA 2025
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has declared that the country’s oil industry is “ripe for investment” as sweeping reforms under President Bola Tinubu’s administration reposition the sector for growth.
Speaking at a United States Nigerian Council forum on the sidelines of the United Nations General Assembly (UNGA) in New York, Lokpobiri highlighted the progress achieved since the passage of the Petroleum Industry Act (PIA), which he described as a game-changer for investor confidence.
“The time to invest is not just now, it is ripe,” Lokpobiri posted on X, underscoring Nigeria’s readiness to anchor West Africa’s energy needs and serve as a continental hub.
The Minister said Nigeria has significantly ramped up production, backed by competitive fiscal policies, streamlined regulations, and improved operational frameworks. He added that the government is balancing its reliance on fossil fuels with a strong commitment to cleaner, more sustainable exploration, in line with the Paris Agreement.
“We are committed to leveraging our fossil fuel reserves to finance our energy mix, while fully aligning with the Paris Agreement on cleaner, more sustainable exploration,” he said.
Lokpobiri urged U.S. investors and global partners to take advantage of Nigeria’s enabling environment, describing the country as a reliable energy partner.
Analysts say Nigeria’s reform momentum, coupled with global demand for secure energy supplies, could attract new inflows of capital into exploration, refining, and related infrastructure. For Nigeria, the push signals a renewed bid to transform abundant natural resources into long-term economic growth.
