Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has urged global investors to take advantage of emerging opportunities in the country’s oil industry, citing bold reforms, rising production output, and improved investor confidence as drivers of growth.
Speaking at the United States–Nigeria Council’s session on oil sector collaboration on the sidelines of the United Nations General Assembly (UNGA) 2025 in New York, Lokpobiri said Nigeria’s renewed policy direction had opened the sector for “deeper, smarter, and more strategic partnerships.”
“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,” the minister stated.
According to him, previously inactive oil blocks are now available for development, while new opportunities are open in both upstream and other areas of the sector. He noted that Nigeria, under Tinubu’s leadership, has achieved significant progress over the past two years, driven largely by the Petroleum Industry Act (PIA), which he described as a “robust, investor-friendly legal framework.”
“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,” he added.
Lokpobiri also assured investors of Nigeria’s commitment to global climate goals, stressing that the country would leverage fossil fuel revenues to support its energy transition. “We are fully aligned with the Paris Agreement, and remain committed to cleaner, more sustainable exploration,” he said.
The minister, in a statement issued by his Special Adviser on Media and Communication, Nneamaka Okafor, affirmed that the government was determined to sustain an enabling environment that would attract both U.S. and global investors.
