Abuja, Nigeria – Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has emphasized the critical role of the downstream sector in driving economic transformation across Africa. Speaking at the 2025 Nigeria International Energy Summit (NIES2025) panel discussion on Shaping Africa’s Downstream Future, Lokpobiri underscored the need for a well-structured downstream sector to ensure that benefits from upstream and midstream advancements reach the grassroots.
He highlighted Nigeria’s recent achievement in fully deregulating its downstream oil sector, a move that has paved the way for enhanced transparency, competitiveness, and private sector participation. According to him, the deregulated environment presents vast opportunities for investment, making Nigeria’s oil industry more attractive to both local and foreign investors.
“The full deregulation of our downstream sector has unlocked new frontiers for growth and inclusivity,” Lokpobiri stated. “This transformation serves as a clarion call for investors to harness the immense potential within our oil industry.”
During the summit’s Exhibition Tour, indigenous firms showcased innovative products aligned with the government’s vision of a thriving oil and gas value chain. Lokpobiri noted that while significant progress has been made, there is still room to expand development, enhance local capacity, and drive industry-wide growth.
The minister reiterated the administration’s commitment to ensuring that Nigeria’s oil and gas reforms translate into tangible benefits for the people, reinforcing the downstream sector’s role as a catalyst for economic development.
The Nigeria International Energy Summit (NIES) remains a premier platform for industry leaders, policymakers, and stakeholders to discuss the future of Africa’s energy sector and explore opportunities for sustainable growth.
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