Nigeria’s ongoing reforms in the petroleum sector are yielding tangible results, with increased production, rising investor confidence, and renewed global interest positioning the country as a preferred destination for energy investment.
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D., highlighted these milestones during the Ministerial Panel Briefing at NOG Energy Week, where he outlined the Federal Government’s strategic efforts to leverage evolving global energy dynamics for sustainable growth.
Speaking during the Ministerial Panel Briefing at NOG Energy Week, the Minister said recent geopolitical developments have highlighted the strategic importance of energy security and created fresh opportunities for countries that are prepared to meet growing global demand.
According to him, the reforms undertaken under the #RenewedHope administration of President Bola Ahmed Tinubu have deliberately positioned Nigeria to attract long-term investment into the petroleum sector.
“We have spent the last three years making sure that when the world comes looking, we are ready,” the Minister stated. “Our rig count has grown from about 14 to almost 60, while production has increased from roughly one million barrels per day to about 1.8 million barrels per day, including condensates. Projects that had been stalled are moving again, new investments are coming in, and investor confidence is steadily returning.”
Sen. Lokpobiri emphasized that beyond increasing production, the government’s priority is to create certainty and efficiency for investors by ensuring that regulatory processes support, rather than hinder, investment.
“What excites me most is creating an environment where investors can move quickly from acquiring an asset to producing from that asset. Government should never become the bottleneck; our responsibility is to facilitate investment while upholding the highest standards,” he said.
The Minister added that Nigeria remains committed to implementing policies that promote stability, regulatory certainty, and responsible resource development, while creating greater value for the economy. He noted that sustained reforms, improved infrastructure, and stronger investor confidence would continue to drive increased production, job creation, and long-term prosperity, further consolidating Nigeria’s leadership in Africa’s petroleum industry. Is Strengthening Investor Confidence And Positioned For Long-Term Global Energy Relevance
Nigeria’s ongoing reforms in the petroleum sector are yielding tangible results, with increased production, rising investor confidence, and renewed global interest positioning the country as a preferred destination for energy investment.
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D., highlighted these milestones during the Ministerial Panel Briefing at NOG Energy Week, where he outlined the Federal Government’s strategic efforts to leverage evolving global energy dynamics for sustainable growth.
Speaking during the Ministerial Panel Briefing at NOG Energy Week, the Minister said recent geopolitical developments have highlighted the strategic importance of energy security and created fresh opportunities for countries that are prepared to meet growing global demand.
According to him, the reforms undertaken under the #RenewedHope administration of President Bola Ahmed Tinubu have deliberately positioned Nigeria to attract long-term investment into the petroleum sector.
“We have spent the last three years making sure that when the world comes looking, we are ready,” the Minister stated. “Our rig count has grown from about 14 to almost 60, while production has increased from roughly one million barrels per day to about 1.8 million barrels per day, including condensates. Projects that had been stalled are moving again, new investments are coming in, and investor confidence is steadily returning.”
Sen. Lokpobiri emphasized that beyond increasing production, the government’s priority is to create certainty and efficiency for investors by ensuring that regulatory processes support, rather than hinder, investment.
“What excites me most is creating an environment where investors can move quickly from acquiring an asset to producing from that asset. Government should never become the bottleneck; our responsibility is to facilitate investment while upholding the highest standards,” he said.
The Minister added that Nigeria remains committed to implementing policies that promote stability, regulatory certainty, and responsible resource development, while creating greater value for the economy. He noted that sustained reforms, improved infrastructure, and stronger investor confidence would continue to drive increased production, job creation, and long-term prosperity, further consolidating Nigeria’s leadership in Africa’s petroleum industry.