From Femi Folaranmi, Yenagoa
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, 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.
Speaking during a keynote remark at the United States-Nigeria Council’s session on oil sector collaboration, held on the sidelines of the on-going United Nations General Assembly (UNGA) 2025 in New York, Senator Lokpobiri highlighted the country’s renewed policy focus and expanding market potential.
“At the heart of Nigeria’s renewed energy agenda is a clear and deliberate policy direction – to open our oil sector to deeper, smarter, and more strategic partnerships, and the time to invest is not just now, it is ripe.
“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”, the minister stated.
Lokpobiri explained that all inactive blocks during the period of no investments are in the basket now and up for grabs.
While acknowledging the longstanding relationship with the US and US companies, he stressed that beyond these relationships, there are new opportunities for new investors, both in the upstream sector and other sectors.
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.
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