The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., has highlighted Nigeria’s energy potential and called for sustained investment in the global energy sector at the 17th International Energy Forum (IEF) Ministerial Meeting held on October 11, 2026, in Riyadh, Saudi Arabia.
In a statement issued by Nneamaka Okafor, Special Adviser on Media and Communication to the Minister of State for Petroleum Resources (Oil), Lokpobiri was said to have co-hosted the meeting alongside Italy’s Minister of the Environment and Energy Security, Gilberto Pichetto Fratin.
The meeting, themed “Energy Security and Shared Goals in a New Era,” brought together energy ministers, industry leaders and representatives of international organisations to deliberate on global energy security, market stability and investment.
Addressing participants, Lokpobiri emphasised that energy security depends on strategic planning, resilient infrastructure and sustained investment in production capacity. He noted that investment decisions taken today would determine the reliability and affordability of future energy supplies.
“Energy security is built before a crisis, not during one,” the minister stated, stressing the need for governments and industry stakeholders to create an enabling environment for long-term investment.
Highlighting Nigeria’s energy potential, Lokpobiri advocated a balanced approach that would enable resource-rich developing countries to harness their hydrocarbon resources responsibly while expanding access to cleaner energy sources.
He maintained that African countries should not be forced to choose between economic development and environmental responsibility, arguing that both objectives could be pursued through appropriate policies and sustained investment.
The minister also underscored the importance of investor confidence, regulatory stability and predictable government policies in attracting capital to the energy sector.
“I often say in Nigeria that capital is blind; it goes where it is welcomed,” he remarked, urging governments to establish transparent and reliable regulatory frameworks that encourage investment and provide confidence in contractual agreements.
Lokpobiri further called for diversification of energy sources, supply routes and infrastructure, noting that oil and gas would continue to play significant roles in the global energy mix alongside renewables, hydropower and nuclear energy.
He urged stakeholders to translate discussions at the ministerial meeting into concrete action, stressing that sustained investment, international cooperation and affordable energy access were essential to building a resilient global energy system.
The minister said these measures would also help unlock Nigeria’s vast energy opportunities and strengthen the country’s contribution to global energy security.