The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called on the National Assembly to reduce the frequency of invitations extended to international oil companies (IOCs) and other key players in the oil and gas industry, saying such actions could hinder investment and disrupt operations.

Speaking in Abuja on Tuesday while declaring the 2025 Nigeria Oil and Gas (NOG) Energy Week open, Lokpobiri described some of the legislative summonses as unnecessary and counterproductive.

“Part of the complaints in the industry is about the frequent summons at the National Assembly and that should be reduced,” the minister said. “What is the business of summoning the IOCs on procurement issues that happened many years ago. They should not be summoned for frivolous reasons.”

Lokpobiri, a former senator, urged lawmakers to thoroughly evaluate the necessity of such hearings and consult widely before proceeding. He warned that poorly considered actions could send the wrong signal to investors.

The minister also disclosed that Nigeria is currently producing about 1.745 million barrels of crude oil per day (bpd) and is targeting two million bpd by the end of 2025. He added that the 2025 national budget is based on a production estimate of 2.06 million bpd.

“We can succeed when we work together l,” he said. “I urge the Nigerian National Petroleum Company Limited (NNPC Ltd.) to change its target ambition to producing above two million barrels by 2025.”

According to Lokpobiri, the oil sector has seen a shift since 2023 when he assumed office, noting that a decade of stalled investment caused by legal and structural challenges has been reversed through targeted reforms that have restored investor confidence.

In his remarks, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated that Nigeria has over 200 trillion cubic feet of proven natural gas reserves. He said the government is determined to unlock the sector’s potential through the “Decade of Gas” initiative.

Ekpo said the initiative is geared towards transforming the country’s vast gas resources into socio-economic value by boosting industrialisation, power generation, domestic LPG usage, gas-to-transport adoption, and gas export.

The theme of the 2025 NOG Energy Week, organised by DMG Events, is “Accelerating Global Energy Progress through Investment, Partnerships, and Innovation.”